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  • Former President Donald Trump reportedly holds between $250,000 to $500,000 in Ethereum (ETH).
  • Trump’s involvement with Ethereum correlates with his NFT ventures which raised over $8.9 million.

After diving deep and cross-checking with trusted sources like Forbes and Binance Feed, our team has uncovered that former US President Donald Trump has a sizeable chunk in Ethereum. This fun tidbit has certainly stirred some buzz in the cryptocurrency world!. Notably, the assets, valued between $250,000 to $500,000, are linked with his NFT venture launched post his tenure at the White House.

NFT Ventures: A Lucrative Move?

After leaving office, Trump unveiled a “limited edition collection” of 44,000 NFTs. These cartoon-styled trading cards portraying Trump in diverse avatars, from hunter camouflage to superhero outfits, saw an overwhelming response, selling out in a day. With a partnership under the banner NFT INC LLC, Trump witnessed another success with a second batch of these cards, also selling out promptly.

With these sales, Trump amassed over $8.9 million. Specifically, he earned a sizable $298,000 as licensing fees from this venture. All these transactions were processed under the entity CIC Digital, which also manages Trump’s Ethereum wallet.

Ethereum’s Market Performance and Potential Growth

With the current Ethereum stats from CoinMarketCap, ETH is valued at $1,848.13. In the recent past, the cryptocurrency exhibited a 0.05% gain, and its weekly progress stands at a positive 1.05%. However, despite this progress, the trading volume for Ethereum has dropped by 15.44%, settling at a daily volume of $3,145,343,749.

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Technical analysis indicates that if Ethereum maintains its upward momentum and surpasses the 50-day EMA line set at roughly $1,860.86, it might target the next resistance at $1,915. Achieving this could pave the way for the crypto asset to ascend to $1,980. Conversely, if Ethereum faces a dip below the 9-day EMA line, it may fall to a potential $1,775 in the ensuing week.

The SEC’s Stance on Cryptocurrency

Although Trump had previously expressed skepticism about cryptocurrencies, terming them as “highly volatile” and “based on thin air”, his foray into Ethereum is undeniable. While the Securities and Exchange Commission has been vigilant about crypto-related activities, especially targeting celebrity endorsements, it remains lenient towards NFT ventures. This could mean Trump’s new venture is less likely to attract any legal complications.

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