Trump’s World Liberty, a prominent investment entity recently purchased $5 million worth of Ethereum (ETH), and total ETH holdings now surpass to $55 million as per Arkham Intelligence.
Trump’s World Liberty has bought another $5 million $ETH, taking his stack up to $55 million
He has also been buying $LINK and $AAVE 👀 pic.twitter.com/zSzPalxWZp
— Milk Road (@MilkRoadDaily) December 12, 2024
Ethereum, being the second largest cryptocurrency by market capitalization, has been gaining traction as the leading blockchain for decentralized finance (DeFi) and smart contracts because of which the institutional investor interest has been increasing day by day. This also indicates continued confidence in the token.
Will ETH Cross the $4K Mark?
According to analysts and various Ethereum price predictions, the token can cross the $4,000 mark by the end of this week but again, there is an resistance level located at $3953 level. If the token breaks this resistance level, the token will definitely cross the $4,000 by the end of this week. After crossing this mark, the resistance levels will be observed at $4,168 and $4,475.
At press time, the price of ETH token stands at $3,968.30 with a pump of 6.2% in the last 24 hours.
Other Accumulations
In addition to World Liberty’s Ethereum holdings, according to the tweet posted by Milk Road, it has also been observed that the investment entity has also been investing in Chainlink ($LINK) and Aave ($AAVE). Chainlink, known for its decentralized oracle network, which plays a crucial role in bridging real-world data with blockchain platforms. Aave, on the other hand, is a leading DeFi protocol that enables users to lend and borrow cryptocurrencies.
Even though no strategy has been disclosed behind these accumulations, but increasing diversification of the cryptocurrencies indicates a calculated bet on the future of the decentralized technologies. By accumulating various cryptocurrencies the firm is solidifying itself as a key player in the industry.
Also Read: Bitwise Predicts Bitcoin Price Will Hit $1 Million by 2029
