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Ethereum Whale Wakes Up After 8 Years as Crypto Market Surge Begins

Another crypto bull run looks set after Donald Trump was elected as the next US president. The positive market reaction to the news has seen top coins like Bitcoin and Ethereum attain new highs. While Bitcoin crossed the $80K mark to reach a new all-time high, Ethereum crossed the $3K zone. 

Ethereum investors have been bullish, increasing the coin’s market cap to over $357 billion. But, an Ethereum whale who was holding 398,891 ETH in their wallet started moving their coins to sell on exchanges. In other news, the Lunex (LNEX) presale has raised over $2 million. Is it set to outshine Ethereum soon? Let’s find out. 

An Ethereum whale sells their coins after 330% gains 

An unknown crypto whale with ETH holdings worth over $1.1 billion has reportedly started selling off his crypto after eight years of inactivity. According to Lookonchain, the whale started moving funds on Thursday, a day after the election results caused a bullish crypto move.  

The whale started accumulating ETH in 2016 at around $3.5 per token and stored them in 28 wallets. These wallets had been dormant since 2016, but after the recent surge, the trader sold at a profit of around 330x. 

ETH nears $3K as price momentum builds 

Ethereum has gone up by over 23% in the past month, reaching a new market cap of over $357 billion. At the time of writing, the Ethereum price is nearing $3,000 after the recent surge that has seen the entire crypto market excited for the future. 

Experts believe the recent leap in ETH demand is political, especially since President-elect Donald Trump made big promises to crypto users during the run-up to the elections. Some promises include firing the SEC chair, Gary Gensler, increasing Bitcoin mining activities in the US, and creating a strategic Bitcoin reserve that will see America buy 200,000 BTC over the next five years. 

Moreover, the ETH/USD technical indicators, like the moving averages and oscillators, show a “strong buy” sentiment among ETH traders. 

Evidently, Trump’s win has caused a new wave of optimism among crypto traders and investors, which is evident in the market’s high fear and greed index. As momentum builds up, it’s crucial to note that, unlike Bitcoin, which attained a new all-time high, Ethereum is about over 30% down compared to its 2021 all-time high price of around $4,800. Regardless of the bullish crypto patterns, it looks unlikely that ETH will break that price and set a new one. 

Lunex investors maximize the bullish crypto waves 

While there are doubts about Ethereum’s future, Lunex has already proven doubters wrong with its successful presale. The presale, which began recently, has raised over $2 million. 

The massive interest in LNEX is due to its powerful DeFi cross-chain platform that allows asset exchange from one blockchain to another without hassles. 

The Lunex Network decentralized exchange (DEX) boasts better scalability, faster transactions, and cheaper fees than other Layer-1 solutions. It achieves these using a non-custodial system that allows an instant flow of assets across multiple chains. 

The token is selling for just $0.002, which is a bargain compared to its potential rewards. Plus, the DeFi market will be one of the most impacted next year if the Trump-led administration ushers in friendlier crypto regulations. 

You can find more information about Lunex Network (LNEX) here:

Website: https://lunexnetwork.com

Socials: https://linktr.ee/lunexnetwork