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
