Open interest in contracts for the World Liberty Financial token, associated with the Trump family, approached $1 billion just hours prior to a partial token unlock.
On Monday morning, open interest in derivative contracts for the World Liberty Financial (WLFI) token reached nearly $950 million, before settling at $887 million, still showcasing a 45% increase over the past 24 hours, according to CoinGlass.
The trading volume for WLFI derivatives surged over 535% in the last day, hitting $4.54 billion, making it the fifth-most actively traded crypto derivative within that period.
Currently, the token trades at approximately 34 cents across most exchanges, down from a peak of over 40 cents a week ago.
Open interest reflects the number of active, unresolved contracts and indicates robust interest in WLFI ahead of an unlock of roughly 5% of the total token supply anticipated in a few hours.
WLFI value may rank among the top 10 in crypto
If WLFI maintains its trading price around 34 cents, it could achieve a fully diluted market value of $34 billion, given its total supply of 100 billion tokens.
This valuation would position it as the ninth-largest cryptocurrency, replacing Tron (TRX) and knocking Dogecoin (DOGE) out of the top 10, as both currently have market values below $32 billion.
If this price trajectory continues, WLFI’s market cap will be around $1.7 billion, based on the approximate 5 billion tokens expected to be unlocked.
Binance dominates WLFI trading
Data from CoinGlass indicates that Binance has captured the largest share of WLFI derivatives trading, responsible for about half of the total 24-hour trading volume at $2.22 billion across over 10.5 million transactions.
Binance also accounts for about half of the total open interest, with approximately $436.5 million transacted through its platform.
OKX ranks second in terms of trades and trading volume, facilitating nearly 1.1 million trades worth $917.5 million in the past 24 hours.
Tokens set to unlock on Monday
World Liberty announced on Aug. 22 that it would unlock 20% of the tokens acquired by its early supporters on Sept. 1 at 8 am New York time (12 pm UTC) following a mid-July community vote that permitted WLFI to trade.
Prominent exchanges like Kraken and Binance have indicated they will list the token for trading. Initially, these tokens were intended solely for governance of an upcoming Ethereum-based exchange and lending platform.
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The company raised $550 million through previous token sales, which are now about to unlock. In October, it launched a sale of 20 billion tokens at 1.5 cents each to raise $300 million, which was fully sold out by late January, available exclusively to accredited U.S. investors.
Subsequently, they initiated another token sale after the first round concluded, offering 5 billion tokens at $0.05 each, marking a 230% increase from the initial sale, which finished in mid-March and gathered $250 million.
U.S. President Donald Trump holds the title of World Liberty’s “Chief Crypto Advocate,” with his sons Barron, Eric, and Donald Trump Jr. designated as “Web3 Ambassadors.” A family-associated company comprises 75% of the protocol’s revenue.
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