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WLFI spot market launch off to a strong start.

CEX

Written by The Kaiko Research Team

25/08/2025

    Welcome to the Data Debrief!

    Welcome back to the Data Debrief! Today, 20% of Trump’s WLFI (World Liberty Financial) token supply was unlocked, coinciding with the debut of spot markets on several major exchanges, including Binance. Yet much of the market reaction had already been set in motion days earlier with derivative markets experienced significant activity in the days leading up to the spot debut.


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    Chart of the Week

    WLFI spot market launch off to a strong start.

    Today at 12pm UTC, 20% of Trump’s WLFI token supply was unlocked. This event coincided with the launch of spot markets for WLFI on several exchanges, including Binance. However, the market had already begun reacting to the news in early August, as WLFI-USDT perpetual contracts became available across multiple platforms ahead of the spot listings and token unlock.

    Kaiko derivatives data shows that traders were actively positioning in perpetual markets ahead of the launch. Since WLFI-USDT perpetual contracts debuted on Binance on August 23rd, open interest surged from $21 million to over $360 million in just five days.

    At launch, WLFI spot prices initially varied across platforms before stabilizing around $0.35 USDT. Order book data revealed temporary imbalances on Binance and Bybit, with sell-side activity briefly outpacing buy-side demand between 2:00 PM and 2:30 PM UTC. Since then, market depth has improved as market makers recalibrate and trading volumes normalize.



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    Data Used In This Analysis

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