Trump’s Election Effect Continues to Ferment, Ethereum Surges to $3,157 High Today, Reaching a New Three-Month High, and Amid Ethereum’s Surge, BitMEX Founder Arthur Hayes Allegedly Buys ETH Through Wintermute. Santiment Analysis: In This Bull Market, Ethereum is Expected to Reach a New All-Time High.
(Background: Bitcoin Breaks Through $77,000, Setting a New Record, Ethereum Approaches $3,000! The Trump Effect Continues, and the Three Major U.S. Stock Indices Also Break Historical Records)
(Additional Background: Bitcoin Breaks Through $76,800, Setting a New Record, Ethereum Stands at $2,900, the Federal Reserve Cuts Interest Rates by 0.25%, U.S. Stocks Mostly Rise)
Following Trump’s election, the cryptocurrency market has been surging for several consecutive days. Not only has Bitcoin broken through $77,000, setting a new historical high, but the long-dormant Ethereum has also shown a strong upward trend, reaching a high of $3,157 today, marking a new three-month high. This has begun to reverse the previously declining ETH/BTC exchange rate, which is now reported at 0.04053, having surged 4% in the past 24 hours.
Arthur Hayes Buys ETH
Amid Ethereum’s surge, according to on-chain analyst Yu Jin’s monitoring, BitMEX founder Arthur Hayes is suspected of buying ETH through Wintermute. In the past 14 hours, he has received 1,071.7 ETH ($3.31 million) from Wintermute, and Arthur Hayes frequently conducts transactions through Wintermute.
It’s worth noting that Arthur Hayes recently expressed his views on the prospects of Ethereum and Solana in 2025. When asked how he would choose between the two, he stated he would choose Ethereum because, despite Solana’s significant growth in revenue and transaction volume, “the larger you are, the harder it is to grow beyond the law of large numbers.” With decreasing transaction fees and the emergence of L2 solutions, Ethereum has significant potential, which will promote its transaction volume growth.
Although Arthur Hayes does not have a specific price target, he expects Ethereum to outperform Solana in the next 12 to 18 months.
However, this position is quite different from Arthur Hayes’ stance before the U.S. presidential election. He previously stated that he preferred Solana over ETH, as Ethereum was too slow at the time and needed a narrative shift to change people’s perceptions of its underperformance in recent months. In contrast, Solana had a more leading mindset and acted quickly, and when the market rises, its performance could surpass Bitcoin.
Further Reading: Arthur Hayes: I Prefer Solana Over ETH, Election Results Don’t Matter, “Fed Rate Cut” is the Key
Will Ethereum Reach a New High?
Santiment’s analysis indicates that over the past eight years, Ethereum has consistently maintained its position as the second-largest cryptocurrency by market capitalization. As Ethereum’s price reaches the $3,120 range, it finally shows growth momentum.
Santiment shared whale transaction data showing a significant increase in the activity of key Ethereum stakeholders. The activity of these addresses also helped Ethereum’s price reach a 14-week high recently. Additionally, Ethereum’s trading volume has climbed to $10.4 billion in recent days:
