Ethereum Price Rises 12% Amid Easing Trade War Tensions and Whale Accumulation
Ethereum has rebounded by 12%, surpassing $2,800 after a market correction. Key factors for this recovery include:
- Easing trade war tensions as President Trump delays tariffs on Canada and Mexico
- Increased accumulation by Ethereum whales
- Significant investments in Ethereum by major projects
Market Response to Trade War Developments
The broader crypto market, including Bitcoin and other altcoins, recovered following Trump's decision to postpone new tariffs on Mexican and Canadian goods. This delay was confirmed after negotiations with the leaders of both countries.
Whale Accumulation of Ethereum
During Monday's dip to $2,500, Ethereum whales purchased significant amounts. Notably, Donald Trump’s DeFi project acquired 1,826 ETH for $2.738 million, totaling around $150 million spent on 45,405 ETH since January 19. The 1inch Investment Fund also bought 7,289 ETH for approximately $10.44 million. Analyst Ali Martinez suggests that sustaining the price above $2,700 is crucial for maintaining a bullish trend.
Sovereign Wealth Fund Includes Ethereum?
Trump signed an executive order to create a Sovereign Wealth Fund, which may diversify its portfolio with assets like Bitcoin and Ethereum, although details remain unspecified.
David Sacks Press Conference
David Sacks will hold a press conference on America’s cryptocurrency leadership, outlining strategic plans for digital assets, regulatory policies, and innovation incentives.