Emily Walker
Ethereum (ETH) has seen a significant rise, exceeding $3,400 today, marking its second day of outperforming Bitcoin (BTC). In the meantime, the decentralized finance (DeFi) project World Financial Liberty (WFL), associated with Donald Trump, is amassing more ETH.
Ethereum Hits $3,400, Investors Celebrate
The momentum seems to be turning in favor of Ethereum, with a notable increase of 4.4% within the last 24 hours as it surpasses the $3,400 mark. Analysts express optimistic predictions regarding further price growth in the near term.
Crypto analyst Ted mentioned that ETH is entering a short-term phase of growth and may reach $4,000 before encountering significant resistance. It is anticipated that ETH could climb to $4,500 in February, with potential for a new all-time high (ATH) by March, especially if WFL’s purchasing spree continues.
WFL has been rapidly increasing its ETH holdings, acquiring $10 million worth of ETH recently, as noted by Ted again. This came after a previous purchase of 6,041 ETH, valued at $20 million under current market conditions.
Furthermore, Joseph Lubin, CEO of ConsenSys, hinted at possible future ventures on the Ethereum blockchain involving the Trump family. Specifics regarding these ventures are still unclear.
Crypto trader Altcoin Scholar discussed the positive price trend of ETH, noting that it’s forming a large ascending triangle pattern. A breakout above the resistance around $4,000 could lead ETH to new all-time highs.
Reaction of Ethereum Whales
To assess the market’s sentiment toward Ethereum, observing the trading patterns of major holders or ‘whales’ is useful. These significant investors can provide insights into the asset’s expected future value.
Recent data indicates large-scale accumulation among ETH whales, with significant purchases totaling over $1 billion from January 10 to January 17.
Additionally, 13 new ‘mega whales’—each possessing over 10,000 ETH—have entered the market, indicating growing confidence from institutional investors and high-net-worth individuals. Concurrently, the Ethereum platform continues to attract new user registrations.
Nevertheless, not all whales share this optimistic outlook. Recently, one substantial holder sold off more than 10,000 ETH at a loss exceeding $1 million. Currently, ETH is trading at $3,422, reflecting a 4.4% increase over the last day.
