Key Points
- The total crypto market cap has reached $3.63 trillion, with Ethereum showing a bullish rally.
- World Liberty Finance, affiliated with Donald Trump, has purchased a large amount of Ethereum.
The total value of the cryptocurrency market has reached $3.63 trillion, marking a significant increase of 6.10%. This surge brings the market close to a new all-time high.
Ethereum’s Bullish Rally
Ethereum, in particular, is demonstrating a bullish rally, with an intraday rise of 5.47%. This rally has created a bullish engulfing candle. The question on everyone’s mind is whether this move will push Ethereum’s value above the $4,000 mark.
The price trend of Ethereum on the daily chart indicates a pullback phase. The Ethereum price trend reveals a resistance trendline born out of lower-high formations. Meanwhile, the local support trendline completes a falling-channel pattern.
Currently, Ethereum is maintaining a bullish dominance above the $3,100 zone, despite significant fluctuations. With the intraday recovery, Ethereum undermines the overnight pullback of 2.83% and prepares to challenge the overhead resistance trendline.
Bullish Speculations and Investments
As the broader market turns optimistic, Ethereum’s open interest has surged to $32.65 billion, registering a 5.25% increase. Bullish speculations over Ethereum are on the rise, adding to the market’s optimism.
In the midst of these rising chances for a breakout rally, World Liberty Finance, associated with Donald Trump, has acquired a significant amount of Ethereum. In the past few hours, World Liberty Finance has spent 20 million USDC tokens to acquire 6,041 Ethereum tokens.
The average buying price of the Ethereum tokens comes at $3,311. Current data reveals that World Liberty Finance’s portfolio holds 44.663 Ethereum tokens, amounting to $151.73 million.
Eric Trump, the son of Donald Trump and the Executive Vice President of the Trump Organization, made an optimistic comment regarding the recent Ethereum purchase from World Liberty Finance, stating, “Wait until you see what they do tomorrow.”
Apart from the USDT and USDC stablecoin worth $160 million, the corporation also holds DeFi tokens like Aave, LINK, Wrapped Ethereum, Ethena, Solana, Ondo Finance, and more.
