US Government Deposits $200,000 in ETH to Coinbase Prime, Sparking Altseason Hopes

The US government has deposited Ethereum (ETH) worth over $200,000 to Coinbase Prime, a move that has ignited bullish sentiments within the crypto community, particularly around the potential for an altseason. This development comes as analysts and enthusiasts anticipate a significant pump in ETH prices, with targets set between $6,000 and $12,000.

The US government's decision to deposit ETH to Coinbase Prime follows a pattern of increasing interest from governments and financial institutions in cryptocurrencies. While some countries have chosen to sell their Bitcoin (BTC) holdings, others, including the US, are exploring the accumulation of crypto assets. The formation of a Strategic Crypto Reserve by the US government, announced by President Trump, indicates a strategic approach to managing and potentially increasing crypto holdings.

Analysts have noted that the US government's move to deposit ETH could be a test run for larger-scale transactions. The community speculates that this could be a precursor to more significant investments in ETH, given the potential for substantial price appreciation. The $10 test transaction that preceded the $200,000 deposit has fueled expectations that the government is preparing for a bullish breakout in ETH prices.

The crypto community is abuzz with the possibility that this move by the US government could trigger the altseason peak phase. With Q3 already in full bullish swing, the anticipation is that ETH will start pumping soon, potentially reaching new all-time highs. The sentiment is bolstered by the fact that ETH is still in the early stages of its bull cycle compared to BTC, which has already seen significant price increases.

Analysts expect ETH to hit new ATH targets between $6,000 and $12,000, driven by the growing institutional interest and the potential for ETH to outperform BTC in terms of price profits. The US government's deposit to Coinbase Prime is seen as a positive signal for the altcoin market, suggesting that major players are positioning themselves for a bullish run in ETH.