Trump crypto project acquires $48M in Ether amid market shift

World Liberty Financial, the cryptocurrency initiative backed by Donald Trump, has made significant purchases of Ether (CRYPTO:ETH), acquiring 14,403 ETH valued at $48 million on January 19.

This acquisition comes as Ether shows signs of strengthening against Bitcoin (CRYPTO:BTC), with the ETH/BTC ratio rising by 0.79% to 0.03197 after a previous decline of 18% over six weeks.

Following these purchases, World Liberty Financial's total holdings of Ether have reached 33,630 ETH, worth over $107 million according to Arkham Intelligence data.

The recent uptick in Ether's value coincides with the launch of Trump's memecoin on Solana (CRYPTO:SOL), which initially sparked a rally in the Solana token, pushing it to an all-time high of $270.

However, the motivations behind World Liberty's aggressive accumulation of Ether remain undisclosed.

“Wait until you see what they do tomorrow,” stated Eric Trump, an adviser for World Liberty, hinted at upcoming developments on social media.

Despite fluctuations in Ether's price within the last 24 hours—ranging between $3,133.98 and $3,439.78—the current trading price is around $3,230.

Additionally, interest in Ethereum has surged, with Google Trends indicating a peak in search volumes for the term "Ethereum" on January 19.

The crypto market remains volatile as Trump's initiatives continue to influence investor sentiment and trading activity.

In related news, Melania Trump launched her own memecoin shortly before her husband's inauguration, which quickly gained traction but also faced significant market corrections.

At the time of reporting, the Ethereum (ETH) price was $3,270.49.