World Liberty Financial Futures (Wlfi)Cryptocurrency linked to President Donald Trump’s family, lost more than 44% of their value on this weekend as businessmen chose to briefly decently financially (Defi) Token.
The Futures began trade of August 23 on the Hyperliquid’s decentralized exchange for $ 0.44. Within a few hours, the price collapsed below $ 0.25 behind significant trading volume.
The debut followed the months of uncertainty. At first, the token was planned to not be moved. In mid -July, however, the The proposal has been revoked. That decision prepared the way for the introduction on the weekend. The distribution of spot and token is due to survive in September.
The current price is to put WLFI at a fully melted amount of $ 24 billion that has dedicated to nearly $ 44 billion, based on a total token supply of 100 billion.
More than $ 59 million in trading volume has been recorded, with $ 57 million in open interest, according to Hyperliquid. Open interest measures the nominal value of open positions in a certain market.
The funding rate is licking down the downside at an annual rate of -35%. When negative rates occur, merchants holding a short position will have to pay holders long, a classic bearish signal.
Negative funding rates are rarely late to the crypto market despite major ownership such as BTC and ETH seller. WLFI’s negative rate shows how entrepreneurs believe that the token is so much appreciated and so much confident in further collapse that they are willing to pay to hold the short position.
