Content provided by JuCoin Labs Crypto Research Institute:
On March 7, U.S. President Trump signed an executive order to establish a Bitcoin Strategic Reserve. This reserve is allocated from seized Bitcoin, and the government will not make additional purchases. In addition, the U.S. has banned the sale of the 198,109 BTC currently held, with Bitcoin being treated as a store of value. Notably, the projects $ETH, $SOL, $XRP, and $ADA mentioned earlier by Trump are not included in the strategic reserve.
After the announcement of the Bitcoin Strategic Reserve, market sentiment was largely negative, as it was seen merely as a storage move without any fresh capital inflows. BTC dropped below US$86,000, and according to Coinglass data, Bitcoin whales continue their deleveraging strategy – the total BTC held by whales has fallen to its lowest level since 2019. However, Trump’s project World Liberty Fi has been steadily increasing its positions. In addition to stablecoins USDT and USDC, its top five holdings include ETH, BTC, TRX, MOVE, and ONDO.
On-chain data shows that apart from ETH, BTC, and TRX which have remained relatively stable, the holdings of other tokens in World Liberty Fi are continuously changing – with MOVE being a recent addition. Below, we analyze several projects related to the Trump family and its ecosystem.
1. $MOVE
$MOVE is one of the projects that World Liberty Fi has recently increased its holdings in. The $MOVE team consists primarily of members from Biconomy, Sui/Mysten Labs, Fluid Finance, and others with deep blockchain technical expertise and industry insight. The original aim of $MOVE was to promote the Move programming language—developed by Facebook (now Meta) for the Libra/Diem project—as the standard for blockchain smart contracts, building a secure, efficient, and highly scalable blockchain infrastructure.
Regarding token allocation, the distribution is as follows:
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Ecosystem and community allocation: 40% (used for incentives, liquidity, and ecosystem funds)
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Initial debt allocation: 10% (used for airdrops and rewards)
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Foundation allocation: 10% (for project development and governance)
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Early contributors: 17.5% (for the development team, marketing, and operations)
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Early supporters: 22.5% (for investors and strategic partnerships)
Token functionality includes staking, gas fees, governance, and liquidity support.
Recently, $MOVE also hosted an AI hackathon and is actively supporting projects in the DeFAI, social, consumer, and security sectors. According to Movement Explorer, the total transaction volume has reached 104,744 so far. It is important to note that the $MOVE mainnet is not yet fully mature, and its ability to support DeFi trading remains to be validated.
$MOVE tokens were launched in September 2024. The all-time high price was US$1.45, while the current price is US$0.49—a decline of 65.8% from the peak. Currently, there are 17,608 on-chain addresses holding $MOVE, with a market capitalization of US$1.18 billion.
Overall Rating: B+ (High potential for development)
2. $ONDO
$ONDO is a project that World Liberty Fi has consistently held. The founder of ONDO, Pinku Surana, previously served as a high-ranking vice president, and other team members come from Wall Street giants such as BlackRock and JPMorgan Chase, bringing rich experience from the financial markets along with blockchain technical skills. $ONDO is also a leading project in real-world assets (RWA) and has received backing from prominent venture capital firms such as Polychain Capital, Pantera Capital, and Coinbase Ventures.
Key assets include:
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OUSD (Ondo USD): A yield-bearing stablecoin based on U.S. Treasuries with an annual yield of about 4-5%.
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OTB (Ondo Treasury Bill): A token mainly used for direct investment in short-term U.S. Treasuries, providing transparent returns.
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OFM (Ondo Fund Management): A fund management product that allows institutional investors to invest in high-quality global bond funds.
Token allocation for $ONDO is as follows:
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Total supply: 1 billion tokens
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Ecosystem and community: 45%
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Team and advisors: 25%
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Investors: 20%
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Treasury reserve: 10%
Initial circulating supply is 22%, with the remaining tokens gradually released via a linear vesting schedule. The token is primarily used for governance, profit distribution, and ecosystem development.
Recently, $ONDO launched Ondo Chain, a Layer 1 built specifically for institutional-grade RWA, further driving ecosystem growth. The Ondo ecosystem has established partnerships with major firms such as BlackRock, PayPal, and Morgan Stanley. $ONDO’s total TVL exceeds US$250 million, with main assets being tokenized U.S. Treasuries and money market funds.
$ONDO tokens were launched in February 2024. The all-time high was US$2.14, while the current price is US$0.96—a decline of 54.8% from the peak. Currently, there are 118,532 on-chain addresses holding $ONDO, with a market capitalization of US$3.05 billion.
Overall Rating: A (High long-term growth potential, suitable for conservative DeFi investors)
3. $AAVE
$AAVE is a project previously held by World Liberty Fi and is a leading lending protocol in the DeFi space. On March 4, $AAVE launched a buyback proposal, which includes an income redistribution mechanism, a token buyback and distribution plan for $AAVE, the Umbrella security mechanism, and the retirement of LEND tokens. The community believes that the new $AAVE buyback proposal will reshape its tokenomics and may usher in DeFi dividends.
The $AAVE team boasts a strong development background. Its founder, Stani Kulechov, has extensive experience in both finance and technology, and the project has received investments from firms such as Blockchain Capital, ParaFi Capital, and Three Arrows Capital. The total supply of $AAVE is 16 million tokens, all of which have been issued with no additional minting. $AAVE tokens are primarily used for governance, fee discounts, staking, and yield generation. The main products include decentralized lending, flash loans, interest rate switching, and collateral support.
Current data indicates that AAVE V3 TVL is around US$8.5 billion, AAVE V2 TVL is around US$2.2 billion, and total TVL exceeds US$10.7 billion, making $AAVE one of the largest lending protocols in DeFi. At the time of writing, total deposits in $AAVE are approximately US$5.5 billion and total borrowings are around US$4 billion, with over 1.5 million user addresses. $AAVE has integrated SonicLabs, and since its launch, its TVL has reached US$1 million per hour.
$AAVE tokens were launched in January 2020. The all-time high was US$666, and the current price is US$191—a decline of 71.3% from its peak. Currently, over 182,534 on-chain addresses hold $AAVE (primarily on the ETH chain), with a market capitalization of US$2.9 billion.
Overall Rating: A+ (Stable long-term growth, a core asset in the DeFi sector)
4. $SUI
$SUI is developed by Mysten Labs, with most core team members hailing from Facebook (Meta). The team’s strong technical background in distributed computing and programming language security has made Sui one of the most notable Layer 1 public chains in the Move ecosystem.
$SUI has a total supply of 10 billion tokens, with an initial circulating supply of about 1.3 billion. The token allocation is as follows:
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Community and ecosystem incentives: 50%
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Investors: 20%
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Mysten Labs team: 20%
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Sui Foundation: 10%
Token functions include transaction fees, staking, governance, and a storage fund.
According to suiexplorer data, $SUI currently has a TVL of approximately US$650 million, over 1 billion total transactions, about 1.2 million daily active wallets, and more than 300 on-chain DApps covering DeFi, NFT, and GameFi. Additionally, the Sui mainnet operates with over 140 active validator nodes, and Sui staking funds exceed US$1.4 billion. On March 6, World Liberty Fi announced that SUI would be included in its strategic token reserve for further exploration.
$SUI tokens were launched in January 2020. The all-time high was US$5.35, while the current price is US$2.6—a decline of 51.28%. Currently, there are 703,800 on-chain addresses holding $SUI, with a market capitalization of US$8.25 billion.
Overall Rating: A- (Large growth potential; watch for ecosystem expansion)
5. $ENA
$ENA, built on ETH, is dedicated to creating a crypto-native, yield-generating stablecoin called USDe, aimed at bridging DeFi, CeFi, and TradFi. The founder of $ENA previously worked at a hedge fund valued at US$60 billion, bringing extensive investment experience in credit, private equity, and real estate, while other team members come from renowned institutions such as Cerberus, AAVE, Blockdaemon, and Kaiko.
The core product of $ENA is the synthetic USD stablecoin USDe, which features yield-bearing assets, transparency, decentralization, and independence from traditional banking systems. Its tokenomics are primarily based on a collateral mechanism – each USDe is backed by an equivalent amount of ETH. This is achieved through a combination of a spot ETH long position and a futures ETH short position to hedge against ETH price fluctuations. Returns are generated mainly from the staking yield of spot longs and the funding rates on futures shorts.
For token allocation, $ENA has a total supply of 15 billion tokens with an initial circulating supply of 1.425 billion. The allocation is as follows:
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Foundation: 15%
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Investors: 25%
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Ecosystem fund: 30%
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Core contributors: 30%
Currently, USDe’s supply is approximately US$6 billion, with over 350,000 users, an annual yield of 67.2%, and daily cumulative revenue exceeding US$6.8 million. On-chain assets for $ENA have grown by 85% in 2024, second only to USDT and USDC.
$ENA tokens were launched in April 2024. The all-time high was US$1.52, and the current price is US$0.44—a decline of 70.79% from the peak. Currently, there are 59,837 on-chain addresses holding $ENA, with a market capitalization of US$1.42 billion.
Overall Rating: B- (Innovative stablecoin based on an Ethereum synthetic USD protocol)
Note: The above content is provided for informational purposes only and does not constitute investment advice. DYOR.
Neason Oliver
