A crypto wallet reportedly tied to World Liberty Financial (WLFI)—a project sometimes associated with the Trump family—has sold off a large amount of Ethereum (ETH), sending ripples through the crypto community.

Blockchain analytics firm Lookonchain reported that 5,471 ETH, worth about $8.01 million at the time, was sold in a single transaction. The sale price was $1,465 per ETH, drawing attention not only for its size but because it likely represents steep losses for the seller.

Related: Trump-Linked World Liberty Financial Announces USD1 Airdrop Test

WLFI Faces Significant Loss on ETH Sale

If this wallet connection is accurate, the sale marks a major realized loss for WLFI holdings. The project is believed by some market watchers to have originally purchased a larger sum of 67,498 ETH at an average price near $3,259 per token, totaling an initial investment around $210 million. Comparing the sale price to that average purchase price indicates a loss of over 55% on the ETH sold. 

Based on current market prices around $1,400-$1,500 per ETH, the remaining reported WLFI holding still faces a substantial paper loss exceeding $100 million. WLFI previously gained attention partly due to its reported links with the Trump family. 

Related: Pro-XRP Lawyer Deaton Predicts XRP Will Flip Ethereum by End of Year

Eric Trump was named in some reports as a “Web3 ambassador” for a related project. His earlier public bullishness on Ethereum now contrasts sharply with the asset being down more than 40% since some of those comments were made, according to TradingView data.

Ethereum Price Remains Under Pressure

As per the data from CoinMarketCap, Ethereum trades at $1,488.08, down more than 5% in the past 24 hours. The token faces significant resistance levels overhead, including the 21-day Exponential Moving Average (EMA) at $1,796 and the 50-day EMA at $2,068. 

According to prominent analyst Ali Martinez, ETH could continue to crash until it reaches the $1,200 price tag, where the second-largest digital asset could find its “footing.” 

The daily chart confirms a very low Relative Strength Index (RSI) reading near 25.61, signaling that ETH is currently deeply oversold. While oversold conditions can sometimes precede bounces, the RSI’s downward direction suggests a potential retest of the $1,200 support level remains possible.