Ethereum

Ethereum Price Surge: Trump’s Executive Order Could Propel ETH to $10,000 and Beyond

Ethereum (ETH) has experienced a notable 6% price surge in the past few days, surpassing the $3,350 mark. The recent jump is linked to Donald Trump’s executive order to build a national digital asset stockpile, fueling optimism among investors. This move could signal the potential inclusion of Ethereum in the US national reserves, which has sparked hopes of a future rally pushing ETH towards the $10,000 milestone and beyond.

As of now, ETH is trading at $3,406.33, with its market cap exceeding $410 billion and daily trading volume increasing by 34% to more than $34 billion. Ethereum’s futures open interest has also surged to $33 billion, signaling strong bullish sentiment within the market.

The growing institutional interest in Ethereum is further bolstered by Donald Trump’s DeFi project, World Liberty Financial, which has been consistently purchasing ETH. The project recently invested $10 million to acquire an additional 3,079 ETH, bringing its total holdings to 74,228 ETH. Notably, 45% of this total, or 32,994 ETH, was acquired within the last three days, further fueling excitement among investors. Crypto analyst IncomeSharks suggests that a break from Ethereum’s current downward trending channel could trigger a rally back to $4,000.

Could Ethereum Price Reach $10,000 If ETH Becomes a National Reserve Asset?
Source: IncomeSharks

In addition, Ethereum’s price chart is forming a right shoulder in a head-and-shoulders pattern, which analysts, including Jelle, believe could indicate an imminent price surge. Furthermore, crypto analyst Patel predicts a potential target of $10,000 for ETH within the next 6-8 months, underlining the strong growth potential for Ethereum.

Sources: Crypto Patel

Trump’s DeFi project’s recent acquisition of ETH, coupled with the growing institutional interest, is stoking further optimism. Additionally, with the Trump administration’s plan to build a digital asset stockpile, Ethereum’s inclusion in the US reserves remains a strong possibility. This could be the catalyst that drives ETH’s price to unprecedented heights.

Also Read: Ethereum Struggles Below $3.5K: Accumulation Soars, Signaling Potential Breakout Ahead

As Ethereum continues to gain institutional traction, coupled with increasing support from figures like Vitalik Buterin, ETH’s future looks promising. If these developments materialize, Ethereum’s rally towards $10,000 could become a reality sooner than expected.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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