The newly tradeable World Liberty Financial (WLFI) token derailed after the initial flourish on Monday.
WLFI Falters After Initial Burst
WLFI, the governance token of the Trump family-backed decentralized finance platform, began trading at $0.228 and rose to a high of $0.46 in the next half an hour, according to CoinMarketCap.
However, it retreated sharply during the day, dropping to roughly $0.24 as of this writing, reflecting a 46% decline from the highs. On an intraday basis, the token rose 7.9%.
Major cryptocurrency exchanges such as Coinbase and Binance listed the token on their platforms. The trading volume skyrocketed past $4 billion in the last 24 hours, making it the ninth-most traded cryptocurrency.
As of this writing, it has amassed …