Former United States President Donald Trump’s project, World Liberty, has invested $9.88 million in Ethereum (ETH). The project has been accumulating ETH since Trump’s inauguration.
On January 27, 2024, blockchain security firm Arkham Intelligence announced on X (formerly Twitter) that Trump’s project had recently invested in ETH. They revealed that the project had purchased 1,623 ETH worth $4.99 million. Since then, the project has bought over a billion dollars worth of ETH, showing the potential of Ethereum.
Data from analytics firm CoinGlass showed that exchanges have seen a significant outflow of $273 million worth of ETH. This suggests potential accumulation and a good opportunity to buy, which could lead to an upward rally.
Despite a recent price drop of 7.10%, ETH’s trading volume has increased by 220% in the past 24 hours. This indicates that investors may be taking advantage of the lower price.
Technical analysis suggests that ETH is in a bullish position, forming a falling wedge pattern on the daily time frame. Experts predict that ETH could increase by 30% to reach $4,100 and by 6% to reach $3,350 in the future. However, this prediction takes into account both long-term and short-term ETH holders.
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