ETH, LINK and AAVE rally after purchase from Trump-backed World Liberty

• Trump’s World Liberty multisig wallet spends $12 million buying Ethereum, Chainlink and AAVE.
• ETH price increased 2% following the purchase, while LINK and AAVE rally more than 20%.
• The move follows the recent announcement in November that World Liberty is adopting Chainlink and AAVE for its DeFi platform.

Donald Trump-backed DeFi platform, World Liberty Financial (WFLI), spent $12 million on Ethereum (ETH), Chainlink (LINK), and Aave (AAVE) on Thursday, sparking a 2% rise in ETH and over 20% rallies in LINK and AAVE.

In November, WFLI already announced the integration of Chainlink and Aave into its Decentralized Finance (DeFi) ecosystem.

Donal Trump’s company crypto buying spree

According to Lookonchain data on Thursday, Trump’s World Liberty Financial multisig wallet spent a total of $12 million USDC stablecoin in purchasing $10 million to buy 2,631 ETH, $1 million to buy 41,335 LINK and $1 million to buy 3,357 AAVE.

ETH price increased by 2% following the news, while LINK and AAVE rallied more than 20% in the early European session on Thursday.

ETH, LINK and AAVE chart. Source: CoinGecko

On November 14, WLFI announced that it would adopt the Chainlink standard for on-chain data and cross-chain connectivity as a secure way to bring DeFi into the next mass adoption stage. 

Moreover, on November 27, the platform’s DAO proposed deploying a World Liberty Financial Aave v3 instance on Ethereum Mainnet. This development would bring over-collateralized borrowing & lending to more users in DeFi.