World Liberty Financial’s WLFI token saw record profit-taking by long-term holders following a Binance listing event, according to on-chain data. The activity coincided with significant token burns and ongoing legal disputes involving major investor Justin Sun, amidst a price recovery from recent lows.
The WLFI token experienced its largest recorded profit event, with 1.8 billion tokens sold at a profit on May 18. On-chain analytics firm Santiment noted the “age consumed” metric, tracking dormant token movement, hit a record 17.4 trillion.
Santiment linked the activity to Binance launching a USD1/BTC trading pair, which allowed WLFI’s USD1 stablecoin to be used as collateral for Bitcoin futures. The firm stated this created a rare exit opportunity for long-term holders after the token’s prolonged decline.
The token’s price had previously crashed to an all-time low near $0.05 due to governance disputes and a controversial token unlock proposal. Investor Justin Sun called the proposal “one of the most absurd governance scams” he had ever seen and filed a lawsuit against the project.
World Liberty Financial countersued, accusing Sun of running “a coordinated media smear campaign.” Concurrently, analysts flagged several large USD1 burn transactions linked to World Liberty following the Binance listing.
At present, WLFI trades around $0.061, reflecting recent declines. Its market capitalization is approximately $1.9 billion against a fully diluted valuation near $6.1 billion, with about 31.8 billion of the 100 billion total supply in circulation.
