The Trump Election Effect Continues to Ferment, Ethereum Reaches a High of $3,157 Today, Setting a New Three-Month High. Amidst Ethereum’s Surge, BitMEX Founder Arthur Hayes Allegedly Purchases ETH Through Wintermute. Santiment Analyzes That Ethereum is Expected to Reach a New All-Time High in This Bull Market.
(Previous Context: Bitcoin Breaks Through $77,000 to Set a New High, Ethereum Approaches $3,000! The Trump Effect Continues, and the Three Major U.S. Stock Indices Also Break Historical Records.)
(Background Supplement: Bitcoin Breaks Through $76,800 to Set a New High, Ethereum Stands at $2,900, Fed Cuts Rates by 0.25%, and U.S. Stocks Mostly Rise.)
Since Trump’s election, the cryptocurrency market has surged for consecutive days. Not only has Bitcoin broken through $77,000, setting a new all-time high, but the long-dormant Ethereum has also shown strong momentum, reaching a high of $3,157 today, setting a new three-month high. This has reversed the ETH/BTC rate, which had been repeatedly setting new lows, now reported at 0.04053, with a 4% increase in the past 24 hours.
Arthur Hayes Buys ETH
Amidst Ethereum’s surge, according to on-chain analyst Yu Jin, BitMEX founder Arthur Hayes allegedly purchased ETH through Wintermute. In the past 14 hours, he received 1,071.7 ETH ($3.31 million) from Wintermute, and Arthur Hayes’ trades are frequently conducted through Wintermute.
Notably, Arthur Hayes recently expressed his views on the prospects of Ethereum and Solana in 2025. When asked which he would choose between the two, he stated he would choose Ethereum because, despite Solana’s significant growth in revenue and transaction volume, “the bigger you are, the harder it is to grow beyond the law of large numbers.” With transaction fees decreasing 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 stance is quite different from his position before the U.S. presidential election. Before the election, he stated that he preferred Solana over ETH, citing that Ethereum was too slow and needed a narrative shift to change people’s perception of its underperformance in recent months. He mentioned that Solana has a more forward-thinking approach and acts quickly, potentially outperforming Bitcoin when the market rises.
Further Reading: Arthur Hayes: I Favor Solana Over ETH, Election Results Don’t Matter, “Fed Rate Cut” is the Key.
Will Ethereum Set a New High?
Santiment published an analysis stating that over the past eight years, Ethereum has mostly maintained its position as the second-largest cryptocurrency by market capitalization. As Ethereum’s price reached the $3,120 range, it finally showed growth momentum.
Santiment shared whale transaction data indicating a significant increase in the activities of key stakeholders in Ethereum. These addresses’ activities also helped Ethereum’s price reach a 14-week high recently. Additionally, Ethereum’s trading volume has also risen to $10.4 billion in recent days:
