⚠️ Crypto Clash: Trump Loads Up While Korea Dials Back 💰

📰 News

💰 Trump Backed World Liberty Financial Buys 3,400 Ethereum As Corporate Demand Soars for ETH

World Liberty Acquires 3.4K ETH

According to Lookonchain data, President Donald Trump’s crypto project, World Liberty Financial, has spent $13 million USDC stablecoin to purchase 3,473 ETH, at $3,743 per token. The latest purchase has brought the platform’s total Ethereum holdings to 73,616 ETH, valued at approximately $275 million. World Liberty Financial has accumulated these tokens at an average price of $3,272, resulting in an unrealized profit of over $33 million.

Last week, WLF bought Ethereum tokens worth $10 million, coinciding with the altcoin’s bullish rally. Reportedly, the platform amassed 3,007 ETH at an average price of $3,325 per token. Previously in May, as CoinGape reported, WLF purchased 1,587 Ethereum coins worth $3.5 million.

Large-scale Ethereum purchases by institutional entities like World Liberty Financial can significantly influence market dynamics. Following this move, the Ethereum price has seen a notable increase of 2% over the past day, with the token hitting a daily high of $3,763 earlier today. Ethereum is currently facing a bullish momentum, boasting massive surges of 20% and 67% over the past week and month, respectively.

⚠️ S. Korea’s FSS Asks ETFs to Cut Coinbase And MicroStrategy Stocks

South Korea Tightens Grip on Crypto Investments

According to the recent Korean Herald report, South Korea’s FSS has cautioned asset managers to rebalance their ETFs and decrease exposure to companies like Coinbase and Strategy. The regulators advised these platforms “not to excessively include” crypto stocks like COIN and MSTR in their portfolios.

Notably, the FSS directive reaffirms the 2017 guidelines on virtual currencies, emphasizing that regulated financial institutions are still prohibited from investing in digital assets. This move seems to contradict previous indications that South Korea’s regulator was exploring ways to ease digital asset trading requirements, instead reinforcing strict rules on crypto investments.

Further, the FSS guidelines prohibit financial institutions from holding, buying, or investing in virtual assets, as well as acquiring them as collateral. An official stated,

Recently, there has been a trend of deregulation related to virtual assets in the U.S. and Korea, but there have been no specific laws or guidelines established yet. This means that existing guidelines should be followed until the new system is complete.

Reportedly, South Korea has been exhibiting a positive shift, transitioning away from its informal ban on institutional crypto trading. Especially following the election of pro-crypto President Lee Jae-myun, the country has accelerated its efforts to revamp its crypto regulations. As CoinGape reported earlier, South Korea announced plans to recognize crypto firms as venture companies, offering access to government support, tax benefits, and financial incentives.

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📊 Markets

🚀 Canary’s SUI ETF Application Advances With SEC- Analyst Predicts All time High In August

Technical Indicators Turn Bullish for SUI

Market data indicate growing confidence in the potential approval of the SUI ETF. According to Glassnode, SUI’s open interest in futures markets has soared to a record $1.2 billion, making it the sixth largest crypto by futures OI, trailing only Bitcoin, Ethereum, Solana, XRP, and DOGE.

Adding to its bullish momentum. Crypto expert Scient noted that SUI is forming a new base, hinting that it might consolidate briefly before aiming for fresh all-time highs in August.

Currently trading around $3.95, SUI price remains well above its 200-day moving average of $2.73. The relative strength index (RSI) stands near 66, suggesting there’s still room for further gains before becoming technically overbought.

If SUI can decisively break the key $4.00 resistance zone, traders see the following targets around $4.20–$5. Should the SUI ETF secure approval and market sentiment remain bullish, projections of $5.5 to $6 aren’t off the table.

📊 Analysts Forecasts $2 Target for FARTCOIN Price As On-chain Data Shows Mega Whale Accumulation

Analysts Bullish on Fartcoin Price as Big Investors Step In

Crypto analyst Maison Ghost in a recent X post, fueled Fartcoin’s growing bullish momentum with a bold prediction, claiming the meme coin could soar to $2 within the next 7 days. Meanwhile, the trading platform TrendSpider also pointed to what it called a “clean technical setup” on the charts, suggesting the token is poised for a breakout.

Social media influencers have amplified the optimism. Crypto enthusiasts have said that Fartcoin hasn’t even started pumping yet, while others have pointed out that the token’s daily active user count has been steadily rising for months.

These forecasts come after a well-known cryptocurrency analyst called attention to the creation of a bullish candle pattern on its chart. This suggests that the meme coin could hit $2.28 in the near future, as reported by CoinGape.