US government deposits ETH worth over $200,000 to Coinbase Prime.
Crypto community experiences a spark in increased altseason sentiments.
Analysts expect to see ETH pump to new ATH targets between $6,000 and $12,000.
Expectations for ETH to start pumping soon are growing more and more every day. With Q3 in full bullish swing, analysts expect ETH to begin pumping and trigger the altseason peak phase soon. Several other factors support this expectation as well, the latest of which is the US government depositing ETH worth over $200,000 to Coinbase Prime, igniting sentiment for ETH hitting a new ATH soon.
US Government Deposits ETH Worth Over $200,000 to Coinbase Prime
The US government has been highly encouraged to join the crypto accumulation bandwagon that most countries and financial institutions have already joined. So far, the leading BTC accumulators are the government of El Salvador under Nayib Bukele’s leadership, Strategy led by Michael Saylor, one of Bitcoin’s greatest advocates, and BlackRock, one of the largest asset managers in the world.
While some countries like Germany decided to sell their BTC instead of holding onto all the BTC they acquired through busts, other countries chose to either hold or accumulate even more. The USA is on the verge of heavily buying crypto assets. So far, President Trump announced the formation of a Strategic Crypto Reserve, a reserve that holds all its acquired crypto assets through busts.
Soon after the announcement, Saylor advised the party to accumulate as much BTC as they could until they secure about 20% of the Bitcoin supply. However, despite the urging, the US government has yet to start its heavy accumulation. Meanwhile, others have begun to accumulate ETH instead of BTC, believing it to be the better investment in terms of price profits, as ETH is yet to begin its this bull cycle, unlike BTC, which has pumped quite a lot.
https://twitter.com/CryptooIndia/status/1942270777321247170
BlackRock happens to be among the most active ETH accumulators alongside ETH whales. As we can see from the post above, it may be that the US government is testing the waters for ETH. Presently, the US government has deposited over $200,000 worth of ETH to Coinbase Prime and tested a $10 transaction. This led to high speculation from the crypto community, is this the trigger needed for the altcoin pump?
ETH ATH Targets Set for Bullish BreakoutsAs we can see from the responses to the post, many speak of how governments don’t test for fun and that every small move on-chain is a rehearsal for scale. Others are anticipating that the entity is waiting for ETH price to pump and then take profits when the price of ETH hits new ATH targets as high as $6,000 to $12,000, as many analysts expect the pioneer altcoin to hit this bull cycle.
