- World Liberty added more Ethereum, pushing total holdings to 77,226 ETH worth $296M as altcoin market momentum grows fast.
- Altcoin market cap hit $1.39T and broke a key bullish pattern, signaling strong growth potential beyond previous highs.
- Gate became the second-largest USD1 holder as Launchpad demand surged, strengthening confidence in WLFI’s stablecoin and altcoins.
World Liberty Financial (WLFI) has continued its aggressive Ethereum accumulation strategy, purchasing 256.75 ETH for $1 million at $3,895 each. This latest buy brings the project’s total holdings to 77,226 ETH, valued at approximately $296 million.
Consequently, the portfolio now reflects an unrealized profit of nearly $41.7 million. This follows a series of large purchases last week, including $2 million spent on 561 ETH and another $13 million used to acquire 3,473 ETH. Besides these, WLFI bought 3,000 ETH for $10 million and 1,580 ETH for $3.5 million in May.
Altcoin Market Displays Strong Bullish Signals
The altcoin market has also gained momentum. Carl Moon pointed out that the TOTAL2 market cap chart, which excludes Bitcoin, is confirming a bullish “cup and handle” formation. This technical pattern formed between 2021 and 2024 and signals strong upward potential.
Source: Carl Moon
Currently valued at $1.39 trillion, the altcoin market is approaching its previous $1.6 trillion peak. Moreover, the breakout from a falling wedge within the handle formation further strengthens bullish sentiment.
Moon’s analysis suggestes that alternative cryptocurrencies could soon enter a bull phase. Additionally, the chart shows a 138% gain since the market’s recovery from the 2022 lows.
Gate Becomes Major USD1 Holder
Meanwhile, Gate, a leading global exchange, has announced a major milestone with WLFI’s USD-backed stablecoin USD1. On-chain data revealed that Gate is now the second-largest holder of USD1 among centralized exchanges, trailing only Binance. This surge in holdings follows the July 26 launch of Ika (IKA) on Gate Launchpad, which supported contributions in USD1 and Gate Token (GT).
The IKA Launchpad campaign drew user participation, attracting over 200 million USD1 and 5.33 million GT, worth $97.5 million. Additionally, Gate now holds approximately $170 million USD1 on BNB Smart Chain and $20 million on Ethereum, ranking first among exchanges on that chain.
World Liberty’s strategic Ethereum buys and the rising USD1 adoption reflect growing confidence in altcoins. Consequently, analysts expect these developments to strengthen the cryptocurrency market as it edges toward new highs.
