The U.S. government recently received a transfer of $332,000 worth of Ethereum (ETH) from Coinbase, bringing its total ETH holdings to approximately $281 million.
This transfer is part of a larger trend, as the government’s crypto stash, which is a result of seized assets from criminal activities, now stands at $23.4 billion. The portfolio is dominated by Bitcoin, which accounts for $22.5 billion of the total.
The news comes as Ethereum’s price has shown signs of a rebound, climbing over 3% in the past 24 hours and a total of 17% over the last month, putting it on track for its strongest Q3 performance ever.
Ethereum‘s market activity has seen a major surge, with over $80 billion in 24-hour trading volume and an open interest of nearly $300 billion in derivatives, signaling a market heavily dominated by leveraged positions.
The second-largest cryptocurrency has shown resilience by bouncing back from the $4,280 support zone, a move that analysts view as a healthy consolidation before a potential new rally. With the long/short ratio favoring bulls and major players like Binance holding significant open interest, the market sentiment remains optimistic. The key resistance zone to watch is the $4,500–$4,800 range; a sustained breakout above this level could propel ETH toward the $5,000 mark.
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