Ethereum Drops 25% Amid Market Crash, Trump’s WLF Loses $75 Million
Ethereum experienced a 25% decline in the last 24 hours, trading at $2,582 after hitting a low of nearly $2,100. Liquidations in Ethereum reached $612.99 million, contributing to a total market loss of $2.27 billion.
Key points regarding Donald Trump’s World Liberty Financial (WLF) amid the market crash:
- WLF holds 70.76K ETH tokens valued at $183.52 million.
- WLF's second-largest asset is 646.71 WBTC worth $67.98 million.
- Losses from Ethena include 5.779 million ENA tokens valued at $3.39 million.
- Total losses for WLF stand at $75.11 million, with $69.846 million in unrealized losses and a realized loss of $5.264 million.
- A report indicates a $51.7 million loss in WLF's fund due to market fluctuations.
Ethereum is at risk of further declines, having broken below the 23.6% Fibonacci level at $2,640. A close below this level may lead to a drop toward the $2,000 mark.
Ethena is currently priced at $0.588, down 26%, and aims to maintain support above $0.50. There are indications it could rebound towards the 200-day EMA line at $0.73.
In summary, Ethereum's substantial drop and significant liquidations impact both the crypto market and WLF's financial standing, raising concerns over continued unrealized losses influenced by broader market volatility and recent tariff hikes by Trump.