Trump’s Victory Sparks Crypto Market Surge! Whale Influence on Ethereum

Estimated read time 2 min read

On November 6, Donald Trump’s victory in the U.S. presidential election sent waves through the crypto market. Trading volumes spiked as Ethereum whales reentered the market, with ETH climbing to $2,816.

Last 24 Hours: Market Surge in Crypto

The crypto market saw significant momentum in the last 24 hours. Global market capitalization rose by 9%, reaching $2.43 trillion, while trading volume soared to $180 billion. Bitcoin reached $74,899, briefly hitting a new peak at $76,460.15, further boosting the market’s upward movement.

Ethereum Whales Make a Comeback

Ethereum’s price increase of 11% has attracted attention as a long-dormant whale returned to the market. After an eight-year hiatus, this whale sold 11,005 ETH at $2,777, earning $30.56 million. Another whale followed with a substantial $65.63 million ETH transfer to Kraken, creating a cautious tone among some investors.

Ethereum’s Outlook and Analysts’ Perspectives

Despite these sales, ETH continues its upward trajectory. Now trading around $2,800, Ethereum’s market cap has reached $336 billion, with trading volume at $38 billion. Crypto analyst Ali believes ETH could achieve new highs, describing Ethereum as an attractive long-term investment with a favorable risk-reward balance.

The recent introduction of Ethereum ETFs has bolstered positive sentiment for ETH, with analysts pointing to a promising future for Ethereum’s value.

Investors aiming to understand ETH’s future performance are advised to keep an eye on market dynamics and major whale activities. Ethereum’s volatility offers both opportunities and risks, making it essential for investors to stay prepared for market fluctuations.

For further insights into crypto market trends and Ethereum’s potential, stay tuned to Dey There for expert analysis and updates.

Ethereum, crypto market, whale, trading volume, Ethereum ETFs

Emiliano Trejo

Emiliano Trejo has spent the last 9 years immersed in the world of blockchain and cryptocurrencies, becoming a prominent figure in the industry. With a background in economics and a keen interest in decentralized systems, Emiliano has contributed to several groundbreaking projects, including the development of blockchain-based financial products and services. His expertise lies in the intersection of blockchain technology and economic models, where he excels in creating innovative solutions that leverage the benefits of decentralization. At DT NEWS, Emiliano shares his deep knowledge of the global cryptocurrency market, offering insights that help readers understand both the technical and economic implications of blockchain innovations.

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