Ethereum price has shot up 6% in the last few days, moving past $3,350 as Donald Trump’s executive order to build a national digital asset stockpile comes into effect. This has raised hopes for a potential ETH inclusion in US national reserves thereby triggering hopes of a stronger rally to $10,000 and beyond. Ethereum Price Rally to $10,000 Ahead? As of press time, the ETH price is trading 6% up at $3,406.33 with its market cap also surging past $410 billion while the daily trading volume is up 34% to more than $34 billion. Furthermore, per the Coinglass data , the Ethereum futures open interest is also up to $33 billion, highlighting strong bullish sentiment among traders. Furthermore, the continuous purchases of Ethereum by Donald Trump’s DeFi project World Liberty Financial have also got investors intrigued to do bottom fishing. Ever since the highs above $4,000 on December 16, the Ethereum price has been trading in a downward trending channel. Popular crypto analyst IncomeSharks noted that if Ethereum breaks this diagonal trendline, it could set the stage for a rally to $4,000. Source: IncomeSharks Additionally, Ethereum price chart forms the right shoulder of a significant head-and-shoulders pattern. Crypto analyst Jelle noted the development, hinting at a potential price rally. “Pump incoming? Likely, yes,” Jelle commented. Source: CryptoJelle On the other hand, market analysts are hopeful of an Ethereum price rally to $10,000 and beyond. Crypto analyst Patel predicts a $10,000 target for ETH within the next 6-8 months, suggesting strong growth potential for the digital asset in the coming months. Sources: Crypto Patel Donald Trump’s DeFi Project Holds 74,228 ETH Donald Trump’s DeFi project World Liberty Financial has further pumped up a $10 million investment acquiring another 3,079 Ethereum (ETH) in the past few hours. With this, the DeFi project has expanded its total ETH holdings to 74,228 ETH. Interestingly, of the total ETH holdings, nearly 45% i.e. 32,994 have come only in the past three days, as per the data shared by Spot On Chain . Source: Spot on Chain Over the last four days, World Liberty Financial has invested a total of $181 million across six tokens: Ethereum (ETH), Wrapped Bitcoin (WBTC), TRON (TRX), Aave (AAVE), Chainlink (LINK), and ENA. Apart from World Liberty Financial, overall institutional interest in Ethereum is also growing significantly. Over the past 19 hours, five wallets—likely controlled by a single entity—deposited $29.2 million worth of Tether (USDT) to HTX, formerly Huobi, and withdrew 9,018 ETH at an average price of $3,237.50 during the market dip, reported Spot On Chain. Interestingly, the wallets had previously withdrawn the $29.2 million in USDT from HTX last November, holding the funds for two months before executing this strategic move. This could be another catalyst for the Ethereum price rally ahead. ETH to Be Part of the US National Reserves? On Thursday, Donald Trump signed an executive order to build a national digital assets stockpile. Interestingly, apart from just the Bitcoin reserves, market analysts are expecting the Trump administration to include more digital assets moving ahead. Previously, reports suggested that top altcoins like XRP, ETH, SOL, would also be part of the reserves, In an interview with Fox Business on Tuesday, Crypto Czar David Sacks stated that they haven’t finalized which assets would be part of the national reserve. “Yeah, we’re going to evaluate that. We have not decided to do it yet. We need to study that,” he said. However, with Donald Trump’s DeFi project heavily accumulating Ethereum recently, there’s a high chance of ETH becoming part of the US national reserves, as Trump plans to make America the world’s crypto capital . Trump now owns over $230 million ETH (55,000 ETH and 14,700 stETH) Strategic Ethereum Reserve (SER) — sassal.eth/acc (@sassal0x) January 23, 2025 If this materializes, we could see a sharp surge in Ethereum price all the way to $10,000 and beyond. On the other hand, Vitalik Buterin has invested in a startup named Etherealize to pump up ETH’s popularity on Wall Street. This could potentially drive greater inflows into spot Ethereum ETF over time. The post Could Ethereum Price Reach $10,000 If ETH Becomes a National Reserve Asset? appeared first on CoinGape .
