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Open interest in the Trump family’s World Liberty Financial (WLFI) token exploded toward $1 billion ahead of a $483 million unlock and listing debuts on exchanges including Binance and OKX, with the token eyeing a potential top-10 crypto ranking
Hours before the unlock, open interest in WLFI contracts hit $950 million, before cooling slightly to $797.88 million as of 3:03 a.m. EST, according to CoinGlass. Trading volume surged over 457% in the past 24 hours, topping $4.77 billion.
The unlock follows a mid-July community vote to make presale WLFI tokens tradable. Previously restricted under compliance rules, tokens will now become transferable at 12 p.m. UTC today on Ethereum, Binance Smart Chain, and Solana.
Major exchanges including Binance, OKX, Gate US, Kraken, KuCoin, and Upbit confirmed listings.
Binance, the largest crypto exchange by volume, has already enabled deposits and will start withdrawals Tuesday, requiring a risk acknowledgment quiz under its “seed tag” designation for high-risk tokens, according to a Sept. 1 announcement by the exchange.
Users who want to access the token will have to complete a quiz acknowledging the risk disclosures.
Among the other platforms that will add WLFI are Gate US, Korea-based Upbit, Bithumb, Kraken, KuCoin, HTX, MEXC, LBank and Bitrue, according to the project’s official X page.
The soaring open interest and trading activity around WLFI comes ahead of a massive token unlock. World Liberty Financial said last week that it will release 20% of the WLFI tokens that were purchased by early investors, which equates to around $483 million.
One of those early investors spent $347K to buy 23.14 million WLFI. Now, the investor is sitting on an unrealized profit of more than $8 million, according to on-chain data cited by Lookonchain in an X post today.
Market watchers are now computing that WLFI could vault into the top 10 cryptocurrencies amid the derivatives frenzy and fresh liquidity hitting the market.
Coinglass data shows WLFI is currently trading just above $0.32 per token. With a circulating supply of 100 billion tokens, the crypto could have a fully diluted value (FDV) of more than $32 billion. This would rank it in the list of the top ten largest cryptos.
Cardano (ADA), ranked at number ten, has a market cap of $29.68 billion. Meanwhile, TRON (9th) and Dogecoin (10th) have respective capitalizations of $32.09 billion and $32.17 billion, according to CoinMarketCap.
It’s not just WLFI that is being welcomed by global crypto exchanges. World Liberty Financial’s USD1 stablecoin has also scored some listings, with Upbit and Bithumb announcing they will add the stablecoin to their platforms.
That’s after the stablecoin officially went live on the Solana network, which World Liberty Financial touted as the blockchain where “capital markets finally move at internet speed.” As part of the launch, World Liberty Financial minted 100 million USD1 on Solana.
Bonk.fun also announced that it will be the official launchpad for USD1, and will help onboard new users. Additionally, World Liberty Financial has shared plans to integrate with Raydium, Kamino Finance, and other decentralized finance (DeFi) protocols.
USD1 was launched in March, and has already become one of the largest stablecoins in the market in terms of capitalization. Data from CoinMarketCap shows the token’s valuation stands at over $2.68 billion, ranking it as the fifth-largest stablecoin.
Largest stablecoins by market cap (Source: CoinMarketCap)
Tether’s USDT and Circle’s USDC remain the largest stablecoins by market cap. USDT, ranked at number one, boasts a capitalization of more than $168.02 billion, while USDC’s capitalization stands at around $71.59 billion.
Read more on InsideBitcoins.com
