World Liberty Financial purchased 1,587
$ETH worth $3.5 million as the 16% rise in ETH price comes with strong institutional interest.
Ethereum's massive 16% jump in the past 24 hours has fueled institutional interest, with Donald Trump's DeFi project World Liberty Financial scooping up another 1,587 ETH, worth $3.5 million earlier today.
This comes after a strong reversal in ETH price, with daily trading volume rising 15% to over $37 billion, passing $2,200.
World Liberty Financial Drives Institutional Ethereum Interest
As the price of ETH fluctuates wildly, institutional interest in the largest altcoin is gathering steam.
According to data from Arkham Intelligence, a wallet associated with Donald Trump's DeFi project World Liberty Financial has purchased 1,587 Ethereum coins with a fresh investment value of $3.5 million.
The project has been accumulating Ethereum heavily over the past few months, with project lead Eric Trump sharing a bullish outlook for the asset in the past.
Although the price of
$ETH has corrected more than 40% since the start of 2024, the sharp return below $1,800 has renewed institutional interest and buying.
The recent purchase of World Liberty Financial highlights that the major players are seeing the possibility of a bottom formation and a strong upside potential from here. In the last 24 hours,
Abraxas Capital, a prominent investment firm, bought 49,644 ETH, worth about $92 million, from major exchanges Binance and Kraken.
On the other hand, the Ethereum Foundation announced an investment of $32 million in Q1 2025, aimed at boosting growth and innovation in the ETH ecosystem.
Analysts are taking ETH price action forward.
With a 16% gain on the daily chart, ETH price reached critical resistance at $2,200, with daily trading volume up 125% to $38 billion.
Additionally, Coinglass data shows that ETH futures open interest rose 16 percent to $26.31 billion, with 24-hour liquidation rising to $283 million, of which $235 million is in short liquidation.
Renowned crypto analyst Ali Martinez noted $2,380 as a key supply bottleneck for Ethereum (ETH).
According to Martinez, breaking this level could act as a catalyst for a new bull rally, adding significant upside momentum.
Crypto analyst Rekt Capital has highlighted a promising rebound in Ethereum's dominance in the cryptocurrency market.
According to the analyst, the current price action is very similar to the movement observed in September 2019, as marked in the leftmost part of the orange circle pattern on the chart.
The analyst added that the
$ETH price may continue to fluctuate in the $2,200-$3,900 range.
The UK-US trade agreement has also sparked an additional $1.8 billion in demand for ETH. This recent purchase from World Liberty Financial may lead to further institutional demand.
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