#BinanceTurns8

US Government Deposits ETH Worth Over $200,000 to Coinbase Prime Igniting Bullish Altseason Sentiments

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.