The cryptocurrency market has seen a surge in prices following Trump's election, with not only Bitcoin breaking through $80,000 to set a new all-time high, but also the long-stagnant Ethereum performing impressively. Ethereum surged past $3,200 this morning, reaching a new high in the past 3 months. CoinGecko data shows that Ethereum has gained nearly 30% in the past week.
An 86.7% win rate whale buys Ethereum
As Ethereum skyrockets, on-chain data analyst @ai_9684xtpa has monitored that a smart money address with an 86.7% win rate has started to make a move. This address purchased 1,699.88 WETH at an average price of $3,193 this morning, worth $5.42 million, seemingly intending to build an initial position and add to it depending on the situation. This is likely the 16th wave of their trading strategy.
Arkham data shows that this address currently holds 1,700 WETH, 2.9 ETH, and 2.87 million AETHUSDT, with a total position value of $34.16 million.
@ai_9684xtpa's statistics indicate that this smart money address is highly skilled at catching the top, with 13 out of 15 previous trading waves being profitable, a win rate of 86.7%, and a total profit of $5.38 million.
Is the outlook for Ethereum bullish?
Notably, BitMEX founder Arthur Hayes was also recently discovered to have allegedly purchased ETH through Wintermute, receiving 1,071.7 ETH, as his transactions often go through Wintermute.
Arthur Hayes has recently shared his views on the prospects of Ethereum and Solana in 2025. When asked to choose between the two, he stated that he would select Ethereum, reasoning that although Solana has seen significant growth in revenue and transaction volume, "the larger you get, the harder it is to grow at a rate that exceeds the law of large numbers." With decreasing transaction fees and the emergence of L2 solutions, Ethereum has significant potential to drive growth in its transaction volume.
While Arthur Hayes did not provide a specific price target, he expects Ethereum to outperform Solana in the next 12 to 18 months.
Santiment data shows that Ethereum whale transaction volume is surging to new highs since August 4th, helping Ethereum prices reach recent 14-week highs. Ethereum's trading volume has also climbed to $10.4 billion in the past few days, setting a new high since August 4th.
Santiment anticipates that during this bull market, any growth in Bitcoin may result in profits being reallocated to Ethereum, potentially driving Ethereum to new all-time highs. Additionally, Ethereum network activity appears to be very healthy.
