WLFI Open Interest Soars to $800M Ahead of Launch
WLFI Open Interest Nears $1 Billion as Launch Approaches
Speculation surrounding World Liberty Financial’s WLFI token is intensifying as its September 1 launch date nears. Futures contracts tied to WLFI now reflect over $800 million in open interest, signaling substantial trader activity even before spot trading begins.
Surge in Trading Volume
CoinGlass data reveals a significant uptick in WLFI's derivatives market:
- Open interest increased by 68% in the last 24 hours, reaching $809.3 million.
- Trading volume jumped by 141% to $1.76 billion.
Binance accounts for the majority of this activity, with Hyperliquid and Bitget also showing notable trading volume.
Whale Trader Makes $1 Million Profit
Onchain Lens reported strong bullish momentum for WLFI contracts on Hyperliquid. One notable trader, holding over 8.6 million WLFI (approximately $3.2 million), initially saw paper gains of $644,000. Updated estimates indicate that profit has climbed to nearly $1 million.
The trader is using 3x leverage, amplifying both potential gains and risks, reflecting a strong conviction in WLFI’s future performance.
OKX Prepares for WLFI Trading
Major crypto platforms are gearing up for the WLFI launch. OKX recently announced the conversion of its WLFI pre-market contracts to perpetual futures and has enabled deposits for the token.
Disclaimer: Trading cryptocurrencies involves substantial risk. Conduct thorough research and consider your risk tolerance before trading WLFI or any other digital asset. Platforms like Codeum offer smart contract audits and KYC services that can provide valuable insights into token security.