World Liberty Financial (WLFI), a decentralized finance platform reportedly linked to U.S. President Donald Trump, recently acquired $48 million worth of Ethereum (ETH) in a buying spree before Trump's inauguration. This purchase highlights Ethereum's attempt to overcome a period of underperformance and has drawn renewed attention to the cryptocurrency. Market watchers are speculating on the future trajectory of Ethereum as it gains momentum. At present, Ethereum is trading at $3,299.17, with a 24-hour loss of 0.65% but a weekly gain of 2.8%. AI models predict that Ethereum could reach $3,750 by Q1 2025 in a bullish scenario, depending on market momentum. WLFI's aggressive buying spree and its staking of nearly 5,000 ETH show its commitment to the Ethereum ecosystem. Derivatives data on Ethereum indicates both bullish sentiment and reduced activity in the market. Technical analysis indicates a potential breakout for Ethereum, and the endorsement of Ethereum's value proposition by Bitcoin advocate Michael Saylor further fuels interest. Increased trading volumes and broader market participation are crucial for maintaining bullish momentum. Ethereum could retrace to $3,000 in a bearish scenario. If WLFI's activities inspire broader institutional adoption, Ethereum may experience a significant rally.



Other News from Today