Inside Trump’s Crypto Holdings: $6.9M Portfolio, With One Altcoin Ready For A Major Rally
26 November 2024 - 2:00PM
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Recent data from market intelligence firm Arkham Intel reveals that
President-elect Donald Trump’s crypto portfolio has seen
significant gains, coinciding with a robust uptrend in crypto
prices following his election victory on November 5. Despite
Bitcoin (BTC) being at the center of Trump’s presidential campaign,
one notable asset among his holdings is Ethereum (ETH), of which he
owns nearly 496 coins. This altcoin has been the standout performer
among his investments, rising 38% over the past thirty days.
Trump’s Crypto Holdings Shine Crypto analyst Michael van de
Poppe pointed out a bullish divergence on Ethereum’s daily chart,
suggesting that the current market dynamics are ripe for further
growth. The analyst identified a key driver behind ETH’s
recent performance: a significant drop in government bond yields.
As these yields decline, van de Poppe suggests that investor
interest in riskier assets like Ethereum tends to increase,
propelling prices higher. Related Reading: Historic Bitcoin Buy:
MicroStrategy Adds 55,500 More BTC To Its Portfolio For $5.4
Billion Van de Poppe elaborated that the ongoing fluctuations in
the yield markets could significantly impact Ethereum’s trajectory.
With Labor Market Week approaching, he speculated that if economic
indicators are weak, the Federal Reserve might implement more rate
cuts. Such actions would likely lead to lower yields, further
boosting Ethereum’s price. Another analyst, Jesse Olson, echoed
this optimistic outlook, noting that Ethereum’s dominance over
Bitcoin is showing signs of a bullish divergence. His analysis
indicates that positive momentum could soon lead to significant
buying opportunities for ETH. As a result of these developments,
Trump’s crypto holdings have surged by nearly $1.6 million within
the past 24 hours, reflecting the positive market sentiment
surrounding Ethereum and other tokens in his portfolio. Major
Investment From TRON Founder In a related development, crypto
entrepreneur Justin Sun has emerged as a major investor in Trump’s
World Liberty Financial, committing $30 million to the
decentralized finance (DeFi) project. Sun, the founder of the
TRON cryptocurrency, declared his support for Trump’s vision of
turning the US into a blockchain hub. He noted, “TRON is committed
to making America great again and leading innovation,” highlighting
the project’s ambition to democratize financial services by
eliminating intermediaries. Related Reading: Ethereum Analyst
Predicts $3,700 Once ETH Breaks Through Resistance World Liberty
Financial, which was launched shortly after Trump survived a second
assassination attempt, aims to raise $300 million at a valuation of
$1.5 billion. However, the project has recently revealed that
its WLF token offerings are primarily being marketed offshore, with
only $30 million set aside for US investors. Once this threshold is
met, the US offering will close, despite having a substantial
amount of tokens still available for sale. Trump is also reportedly
in discussions for the acquisition of the digital asset marketplace
Bakkt Holdings Inc. through Trump Media & Technology Group
Corp., which he controls. At the time of writing, ETH was trading
at $3,435, up 2.4% for the 24-hour period. Featured image from CFR,
chart from TradingView.com
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