Booms in the Crypto Market As Ethereum Soars 70% in Just One Month, Trump’s Business Makes Huge Profits
The cryptocurrency market is experiencing a spike in activity as its entire market capitalization has for the first time surpassed $4 trillion. Ethereum is currently making news with an amazing increase following a robust surge in Bitcoin. The second-largest cryptocurrency in the world has increased by a staggering 70% in the last month and by 20% in only five days. In fewer than 30 days, its market capitalization has increased by $150 billion.
According to reports, World Liberty Financial, the corporation of US President Donald Trump, has made large investments in Ethereum. Trump is alleged to have benefited greatly from the recent price increase. At the moment, Bitcoin is trading at $118,071.65, and Ethereum is trading at $3,538.23. Institutions have bought $5 million worth of Ethereum in the past day alone.
The GENIUS Act Fuels the Rally
The GENIUS Act, a landmark piece of American legislation that President Trump signed last Friday, is the main driver of this cryptocurrency surge. As a result of the legislation, investors now have more confidence and excitement, which has accelerated “Crypto Week.”
These days, people view cryptocurrencies as more than just a speculative or dangerous investment. Ethereum ETFs have seen investments totaling $2.9 billion (Rs 24,650 crores) so far in July, whilst Bitcoin funds have drawn $5.5 billion (Rs 46,750 crores).
Trump’s Fresh Ethereum Investment
Sources claim that Trump’s business just made an Ethereum investment of about $10 million (Rs 85 crores). According to Nansen’s blockchain data, World Liberty Financial purchased 3,007 Ethereum for $3,325 each. The business had bought 4,468 ETH in March, so this isn’t their first significant investment.
Meme Coin Brings In Millions
Trump has made impressive personal gains on his $TRUMP meme coin in addition to Ethereum. Between January and mid-June, he made $150 million (Rs 1,275 crores) from the cryptocurrency, according to crypto analytics firm Gauntlet.
A planned “coin unlock” this week might add $100 million (Rs 850 crores) to his cryptocurrency holdings, according to research portal Messari.