According to Nansen Data, the Donald Trump -backed company, World Liberty Financial, has purchased Ethereum (Ethereum of $ 10 million (ETH). The purchase coincides with the asset that experiences a substantial price increase. ETH’s price has recycled the $ 3300 level and collects 7.3% in the last 24th. 14-day diagrams and 28.1% compared to the previous month. While the rally has come as a relief for investors, ETH is still down by 4.2% since July 2024.
Ethereum moves full steam forward
ETH’s latest rally comes in the middle of a market surveillance. The Cryptocurrency market broke out after Bitcoin (BTC) hit a new highest time of $ 122,838 on July 14.
Also read: ETHEREUMS $ 4000 targets: 2 game-changing ETH catalysts
Will the asset suffer $ 4000 next?
Ethereum (ETH) has not traded over the $ 4000 mark since December 2024. The ETH’s December rally was followed by BTC who hit a new top. We could also see a similar pattern this time.
There is also a possibility that ETH will meet a correction. The current cycle has seen a significant decline in retail investors. The Federal Reserve’s decision not to lower interest rates may have driven retail players to hibernation. The lack of retail players can lead to rally braking.
