WLFI (World Liberty Financial) down 1.35% in the last 24 hours

Gate News Bot message, November 7th, according to CoinMarketCap data, as of press time, WLFI (World Liberty Financial) is currently priced at $0.12, down 1.35% in the past 24 hours, with a high of $0.14 and a low of $0.11. The current market capitalization is approximately $2.873 billion, a decrease of about $39.2395 million from yesterday.

WLFI is the native token of World Liberty Financial, designed to connect traditional finance with the open economy by offering specialized on-chain products. WLFI holders can influence the platform’s future development through proposals, reviews, and voting. World Liberty Financial is developing next-generation core financial products for institutions and individuals, including an upgraded USD1 stablecoin, the WLFI App for crypto deposits and withdrawals, and crypto asset lending services. The platform also provides cross-chain bridging and swapping tools to support seamless transfer of WLFI across multiple blockchain networks.

Recent important news about WLFI:

1️⃣ Strategic Acquisition of USD1 Tokens
World Liberty Financial has acquired some USD1 tokens as strategic reserves to promote adoption of USD1 on the Solana blockchain. This move indicates the project is actively expanding its stablecoin business, potentially strengthening the overall ecosystem and liquidity of WLFI. However, in the short term, this strategy has not prevented WLFI’s price from declining.

2️⃣ Enhanced Legal Team
World Liberty Financial recently appointed Mack McCain as Chief Legal Counsel. McCain previously served as Chief of Staff and Deputy General Counsel for Regulatory Affairs at Robinhood, bringing extensive legal experience in fintech. This addition is expected to strengthen WLFI’s regulatory compliance capabilities and support future business expansion, though it has not yet had a noticeable positive impact on market sentiment.

3️⃣ Large-Scale Token Burn
On October 28th, World Liberty Financial burned 175 million WLFI tokens, valued at approximately $26.72 million. This move aims to reduce circulating supply and increase token scarcity. While this action may provide some short-term price support, it has not reversed WLFI’s downward trend.

Technically, WLFI’s price has shown volatility recently. Although there was a slight increase on November 5th and 6th, it subsequently declined again, indicating market uncertainty about the project’s prospects. The current price fluctuates between $0.11 and $0.14, and may continue to face downward pressure in the short term.

This message is not investment advice; please be aware of market volatility risks.