Official Trump (TRUMP) gained over 28% in a single move, reflecting the latest move of World Liberty Fi. The platform announced USD1 would launch on the Enso chain.
Official Trump (TRUMP) rallied by over 28% to $7.96. The token went vertical, rising close to a one-month high. This is the first significant recovery rally for TRUMP in the past three months, erasing a big share of the recent losses.
The meme token reflected the milestone for World Liberty Fi, where the platform launched its stablecoin USD1 on the Enso chain. The stablecoin will also become a part of the Dolomite DeFi infrastructure.
TRUMP performed even better than the native WLFI token, which only added 3.7% to $0.15. Both assets have widespread listings and representation on Binance, but TRUMP was the more active token.
TRUMP had its strongest rally in over six months, though it was still not enough to erase the previous losses and the months-long slide. Despite this, TRUMP once again became the leading Solana meme token, flipping Pudgy Penguins (PENGU).
The meme token also reports 629,330 holders, and is seen as potentially undervalued and capable of making a return. However, TRUMP is yet to reclaim its previous double-digit prices.
Whales are accumulating TRUMP
Trading data also shows TRUMP started expanding even before the official news came out, once again pointing to potential insider trading. Additional data showed that TRUMP buying started in the past day, even earlier than the news.
In the past week, another whale also allocated $4M to accumulating TRUMP. Additional data shows whales are more active on TRUMP and MELANIA tokens, with repeated purchases in the past day.
MELANIA had an even more dramatic rally of over 47%, rising to $0.09 in the past few hours. Both tokens have significant whale holdings and a previous history of team wallets trading.
USD1 grows as a multi-chain token
USD1 still has over 80% of its supply on BNB Smart Chain, around 10% on Ethereum, 6.8% on Solana, and a small representation on TRON. Recently, the token was also added to Aptos on October 6.
The token has a total supply of around $2.6B. Following the addition to Enso, the token will use the platform’s infrastructure for easier cross-chain activities. Enso will boost the transfers of USD1 to different chains and protocols. USD1 is also building new liquidity pools and is getting integrated into the wider app, DEX trading, and lending ecosystem.
USD1 aims for a wider DeFi representation, as currently over 72% of its volumes are on the Binance exchange. Around 12% of USD1 activity is on smaller exchanges. The token is also represented on Uniswap, PancakeSwap, Raydium, Meteora, and other small DEXs. So far, USD1 has not shared plans for launching on Base, though there have been calls for expansion.
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