WLFI Token Plunges Amid Early Unlocks and Controversy
World Financial Liberty (WLFI) token experienced a significant drop.
Several factors led to this sharp decline. Early WLFI token unlocks played a crucial role. On September 1,20% of presale tokens became available,flooding the market with liquidity. Many early investors quickly sold their tokens, contributing to the price drop. Additionally, the WLFI price dropped over 20% in a single day, extending a multi-week downturn.
Early token unlocks and whale dumping were key factors in this decline. on September 1,20% of presale tokens became available,leading to a surge in liquidity. Many early investors quickly sold their tokens, contributing to the price drop.
Controversy also played a role. The WLFI team froze tokens belonging to Justin Sun, a major backer. This action damaged trust in the project. Additionally,WLFI sold 100 million tokens to Hut 8,a Bitcoin mining firm,for $25 million on October 4. Although this was a small fraction of the $3.6 billion market cap, it raised concerns about insider selling.
The crash affected other Trump-related projects. The Official Trump (TRUMP) memecoin lost 3.1% on the day, adding to a monthly decline of 18%. TrumpCoin (DJT), unrelated to the Trump family, fell by 38.4%.
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