Trump-linked DeFi project World Liberty Financial has resumed its crypto purchases as the altcoin season narrative reemerges

Blockchain data shows World Liberty Financial has bought 3.64 million EOS coins, worth $3 million USDT, on the BNB Chain.

World Liberty Financial, the crypto project linked to former U.S. President Donald Trump, has resumed its massive altcoin purchases.

The project completed a transaction on the BNB Chain, swapping 3 million USDT for approximately 3.64 million EOS coins at a rate of $0.824 per coin.

The purchase, which occurred at around 02:15 (GMT+8), saw EOS extending its latest gains even as the overall market cooled after the recent rally.

Trump’s World Liberty(@worldlibertyfi) just spent 3M $USDT to buy 3.64M $EOS at $0.824. debank.com/profile/0xa713...

— Ali Martinez (@ali_speter) January 11, 2024

While Bitcoin showed a slight recovery of 1.80% in the past 24 hours to trade at $103,700, EOS displayed a green daily chart with a rally from the low of $0.769 and stretching to an intraday peak of $0.8643.

The massive accumulation comes as EOS, which has rebranded to Vaulta and upgraded its infrastructure to position itself to dominate web3 banking, and its connection with political entities might amplify EOS’s institutional appeal.

The DeFi project’s purchase was executed on the BNB Chain, and it was spotted by blockchain data aggregator, Debank.

The project is currently holding approximately $386 million in various tokens, including ETH, BTC, and LINK, in its main wallet.

Earlier this year, the project made a significant purchase of 18,000 Solana (SOL) tokens, which were acquired at an average price of $150,000.

At the time, the purchase was executed in a single transaction on the Solana network and involved the complete withdrawal of the entire token balance held by a specific Solana wallet.

The project’s large-scale buying activity reflects its confidence in the selected altcoins, which offers lucrative upside potential for investors hunting hidden gems in the crypto industry.

Moreover, the move might reflect a broader play to support blockchain technologies designed for free-market principles, in line with the project’s political leanings.

However, despite the massive buying pressure, EOS encountered resistance at the $0.86 level, where sellers emerged to stall further gains.

The altcoin has since pulled back to support at $0.82, which could be crucial for buyers to maintain in the short term.

A breakdown below $0.82 would invite more sellers, likely pushing EOS towards the next support at $0.77, which aligns with the 50-day Simple Moving Average.

On the other hand, staying above $0.82 might open doors for EOS to retest the $0.99 resistance, paving the way for a potential rally towards the $1 handle.

Further bullish momentum could propel EOS towards the January 7 highs of $1.045, setting the stage for a continuation of the ongoing altcoin season.

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