The native token of World Liberty Financial organized a comeback after the Tron founder Justin Sun’s Token Holdings of 595.109 million WLFI -Tokens had blacklisted.
Sun noted“
“If one of the early major investors in the financial financial data of the World Liberty, I not only contributed capital, but also my trust and support for the future of this project. My goal has always been to grow alongside the team and the community, and to jointly build a strong and healthy WLF ecosystem.
During the operations, however, my tokens were unreasonably frozen. ‘
According to CryptoSlate’s Data, WLFI value rose by almost 4% in the last 24 hours to $ 0.18754 from a low of $ 0.1632. The price recording has added around $ 500 million to the market capitalization of the project, which was from the $ 4.6 billion press.
Coinglass facts Show that crypto traders who speculate at WLFI lost $ 17 million because of the volatile price fluctuations of the digital asset.
In the meantime, WLFI’s price performance has led to an increase of 50% in the open interest volume of token to $ 7.2 billion at the time of writing.
These developments mark a significant turn from fortunes for a digital active that has lost around 70% of its value since it started acting on 1 September.
Sun vs WLFI
On September 4, the WLFI team blocked a wallet address of Sun with 595.109 million WLFI -Tokens worth almost $ 104 million.
According to Onchain -lensIf the WLFI team reportedly blocked the wallet of Sun because of accusations that an interconnected exchange had used customer touring rooms to suppress the price of the asset. The reports were not confirmed from the moment of the press.
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These rumors started after portfolios were connected to the sun that had transferred more than $ 10 million to WLFI -Tokens to exchange. Conor Grogan, a Coinbase director, had marked a transaction on X, proverb:
“A Binance deposit athlete who was affiliated with Justin Sun received more than 60 million WLFI -Tokens worth $ 12 million from HTX yesterday. The 60m WLFI payment represents approximately 52.6% of the total WLFI companies at HTX at the moment of HTX’s Public.
Sun, however, defended the transactions and described them as “a few general exchange tests with very small amounts, followed by an address distribution.” He added:
“There was no purchases or sales involved, so it could not possibly have any impact on the market.”
Sun Slams WLFI
After these actions, Sun criticized the Blocklisting of World Liberty Financial of his tokens in a statement of 5 September shared on X as ‘unilateral’ and ‘unreasonable’.
According to itThe Crypto Venture Actions of President Donald Trump violated the ‘legitimate rights of investors’, and added that such decisions could damage the trust of investors in the project.
He wrote:
“Tokens are holy and inviolable – this should be the most basic value of every blockchain. It is also what makes us stronger and fairer than traditional finances.”
Nansen CEO Alex Svanevik too defended Sun by pointing out that the crypto billionaire was not responsible for the initial price drop of the WLFI when the time stamps of his transactions are investigated.