Recent events surrounding cryptocurrency are linked to former U.S. President Donald Trump, who launched his DeFi platform and meme coin.
Introduction to Trump's Use of Cryptocurrency
During the election cycle, Trump ventured into the crypto sector by issuing a meme coin and DeFi platform even before his inauguration. His family's substantial cryptocurrency holdings sparked curiosity about the correlation between Trump and AAVE Coin.
Decline of AAVE Coin After WLFI Launch
A week after the WLFI launch by Trump's team, tokens became transferable, causing investor dissatisfaction. The price of AAVE Coin started to drop when it was denied that the project would receive a 7-8% allocation from WLFI. "The WLFI team informed WuBlockchain that the claim stating 'Aave would receive 7% of the total WLFI token supply' was false and a hoax."
Fluctuations in AAVE Coin Price
The denial of anticipated allocations led to price volatility for AAVE. AAVE founder Stani Kulechov confirmed the proposal acceptance by Aave DAO, stating, "The proposal created by the WLF team was approved and put to a vote."
In the coming weeks, further fluctuations in AAVE Coin are expected, affecting the cryptocurrency market due to Trump's activities.
