ETH, the indigenous token of the Ethereum blockchain, receives a lot of attention from both the pro-Crypto community and former president of the United States Donald Trump. His project seems to have collected a considerable amount of ETH since his inauguration.
Donald Trump’s investment of $ 5 million in Ethereum (ETH)
On January 27, 2024, Arkham Intelligence, a blockchain-based security company, unveiled X (formerly Twitter) that Trump’s World Liberty Project had recently invested in Ethereum (ETH).
According to the post on X, Arkham revealed that Trump’s project had just purchased 1,623 Ethereum (ETH) worth $ 4.99 million. Since his inauguration, his project has bought more than a billion dollars in ETH, suggesting Ethereum’s potential.
$ 273 million in ETH outflow
Data from the chain analysis company revealed that exchanges had witnessed an outflow of $ 273 million for a considerable ETH, which indicates potential accumulation. This also suggests an ideal buying option with the potential to increase the purchasing pressure and to activate a further upward rally.
With rising interest rates and confidence among investors and long -term holders, the trade volume of ETH has risen by 220% in the last 24 hours. However, ETH is currently trading near $ 3,110 and has experienced a price decrease of 7.10% in the same period.
This record trade volume suggests that investors may benefit from the price decrease.
Ethereum pricing and upcoming levels
According to the technical analysis of experts, the ETH of Ethereum Bullish seems because it has formed a bullish -falling wedge price action pattern on the daily period of time, with the price currently in the lower trend line.
Based on the recent price action and the historical momentum, ETH could rise by 30% to reach the $ 4,100 level and by 6% to reach the $ 3,350 level in the future.
However, this price forecast is based on both ETH holders in the long term and in the short term.
Credit : coinpedia.org
