The U.S. election of Donald Trump as President led to a surge in the cryptocurrency market, especially Ethereum, which has seen a 9% increase in global market capitalization to $2.43T. The rally was driven by Bitcoin’s price hitting an all-time high of $76,460.15. This has led to a dormant Ethereum whale, who held 11,005 ETH since 2016, selling their tokens and making $30.56M.
Despite the whale’s selling, the Ethereum price remains bullish, currently at $2.8k, with a market capitalization and trading volume of $336B and $38B, respectively. The whale’s trading strategy is being highlighted as an example of holding for a longer period for heavier profits and not panicking during price dips.
Cryptocurrency analysts are anticipating a further rise in Ethereum price, with some projecting a new all-time high. This is partly due to Bitcoin’s potential rally to $90K or higher and strong buying pressure on Ethereum. Ali, a crypto analyst, shared his views on the ETH price, stating that the token has performed impressively and is moving parallel with his earlier prediction of Ethereum targeting new highs.
He believes the risk-to-reward ratio on Ethereum is too good to pass up for a long position.
Source
<p>The post A Dormant Ethereum Whale Returns to the Market and Makes 30M first appeared on CoinBuzzFeed.</p>
