Ethereum News: Trump-Backed World Liberty Financial Plans to Launch USD-Backed Stablecoin, Amid Speculation on ETH Price Reaching $12K

In a significant move that could shake up the decentralized finance (DeFi) sector, President Donald Trump’s backed World Liberty Financial has announced plans to launch its own U.S. dollar-backed stablecoin. This comes amid ongoing discussions in Congress about legalizing stablecoins and speculation about Ethereum’s price reaching new heights.

Trump’s World Liberty Financial Joins Stablecoin Goldrush

World Liberty Financial, a decentralized finance protocol backed by President Donald Trump, intends to launch its own U.S. dollar-backed stablecoin, World Liberty Financial USD (USD1), on both Ethereum and Binance’s BNB Chain. With Trump back in office and a bill to legalize stablecoins being considered by congressional Republicans, the team feels the time is right for the president to enter the stablecoin sector.

ETH Price’s Road To $12K: Historic RSI Lows Signal This

Ethereum whales purchased a total of 470,000 ETH in seven days, according to Santiment data, while the RSI indicator reached its lowest level in years. The ETH price has been consolidating between $1,850 and $2,150. Large investors have been accumulating Ethereum during its March price dip, hinting at a potential longer-term market shift. Technical indicators and institutional activity suggest an upcoming rally for Ethereum.

Tokenized Treasuries Hit $5B Milestone, Fidelity Eyes Tokenized Money Market Fund

The market value of tokenized U.S. Treasuries surpassed $5 billion this week, driven by inflows into asset management giant BlackRock’s and digital asset firm Securitize’s market-leading product. Crypto tokens backed by U.S. Treasuries are at the forefront of the tokenization trend, captivating global financial behemoths and digital asset firms. Fidelity Investments, seeking to create a tokenized money market fund, filed for regulatory approval last week to launch its Fidelity Treasury Digital Liquidity on the Ethereum blockchain.

Ether Faces Potential Decline Toward $1,200

The cryptocurrency market is facing headwinds as Ethereum struggles with declining activity, signaling potential further price setbacks for Ether (ETH). Analysts are closely monitoring Ether’s performance as it remains vulnerable to external market pressures and internal supply dynamics. A COINOTAG expert stated, “As long as transaction volumes remain low, Ethereum’s price could continue to see downward pressure.” Ethereum’s price is under pressure in a declining market, with transaction volumes down and inflation in ETH supply posing a threat to further downside. Recent data indicates a significant decline in Ethereum’s network activity, as transaction fees and daily transactions fall to levels not observed in recent times.