The United States has transferred Ethereum worth $ 219,000 to Coinbase, arousing fears of a potential sale. ETH’s price has not been affected, but the community has a lot of unanswered questions.
On the surface, it looks like a tiny amount compared to the ETH stock of $ 650 million in the federal government. However, this is his first transfer of assets to an exchange recently after President Trump took office, and it can be a warning panel.
Why do the United States move Ethereum?
It is well known that the American government maintains a huge stock of bitcoin, which it has seized in various criminal companies. Whenever he liquidates some of these assets, market movements and crypto enthusiasts take note everywhere. Today, Arkham Intelligence has discovered that the United States has moved around $ 219,000 to Ethereum in Coinbase:
For the moment, it is not clear why it has happened. Under President Biden, the federal government liquidated tons of Bitcoin last year and Coinbase transfers were a key alert of these sales. In response, Trump proposed to make a reserve of American crypto, and his plan explicitly includes altcoins like Ethereum.
So why does this transfer occur? Several commentators immediately supposed that the United States planned to have this Ethereum. After all, even if ETH is in a stable place at the moment, it has experienced almost six consecutive months of decline directly beforehand.
Since President Trump took office, the federal government has only transferred tokens to an exchange on another occasion. This incident, however, was an even smaller amount, and it took place less than a week after its inauguration. Now, however, it has been in power for months, and the White House is working actively on a crypto reserve.
In other words, the United States may plan to liquidate more Ethereum in the future. Of course, this is a tiny transfer, but it could be an important alert signal. Indeed, any transfer from the government to the exchanges is a major reversal of policy, especially if the ETH will be in the crypto reserve.
However, it is important to keep this decision in perspective. The US government is currently holding more than $ 650 million in Ethereum, but it has transferred less than $ 220,000 to Coinbase. He only moved assets he seized from Chase Senecal’s crook in 2022, but did not even move all his confiscated token. This theory of liquidation of ETH can be unrealistic or exaggerated.
Currently, there are many unanswered questions about this Ethereum transfer of the American government. Until now, this news has not brought up much ETH’s price, we hope, meaning a lack of Fud investor. Nevertheless, this uncertainty could lead to future discomfort.
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