Global #cryptocurrency

​Ethereum (ETH) has recently been trading 25% above its eight-month low of $2,112, which was reached on August 5, 2024. Despite this rebound, notable analysts are suggesting that the altcoin may face significant downward risks in the near future.

Recent election disclosures have shed light on former President Donald Trump’s significant involvement in the cryptocurrency and NFT markets. According to filings, Trump holds between $1 million and $5 million in Ether (ETH).

In a notable shift towards digital asset investments, South Korea’s National Pension Service (NPS) has acquired 245,000 shares of MicroStrategy, valued at $33.75 million, during the second quarter of this year.

Recent data from Arkham Intelligence reveals a significant transaction involving 10,000 BTC, valued at approximately $600 million, which has been transferred to Coinbase Prime, the institutional arm of the well-known cryptocurrency exchange.

Alabama Representative Mike Shaw, R-Hoover, has announced his intent to introduce legislation aimed at regulating cryptocurrency and blockchain technology in the state.

Ethereum (ETH) is currently exhibiting several bearish signals, driven by technical analysis, on-chain data, and recent market activities. The cryptocurrency has recently crossed a crucial resistance level and is now trading at $2,622, marking a 4% decline over the past 24 hours.