Ethereum big pump 13% 'Whale dumped the goods' ETH short-term peak has been reached?

Driven by the news of Trump's election to Favourable Information, the cryptocurrency market ushered in a celebratory rally, with Ethereum rising 13.18% at one point, surpassing BTC. However, Whale took advantage of the momentum to dump the $24.03 million Ethereum, raising concerns about whether a short-term high has occurred. (Synopsis: ETH/BTC fell below 0.035 to hit a new 3-year low, and Trump's election can't save Ethereum? (Background added: The four major whales dumped $600 million in ETH in a single month, and Ethereum's upcoming Pectra upgrade can save it? After the election of Encryption-friendly Trump and the removal of uncertainty about the presidential election, Cryptocurrency ushered in a celebratory market, and Ethereum even exceeded BTC for a long time. According to Binance spot market data, Ethereum originally accounted for only $2,600 when BTC broke through $75,000 yesterday (6); And while BTC hit an all-time high of $76,400 at about 4 a.m., Ethereum was only close to $2,700. However, when BTC's subsequent rise stopped, Ethereum continued to rise sharply and hit a high of $2837.2 at about 9:30 this morning, now trading at $2817.33, with a rise of more than 13.18% in the past 24 hours. This reversed the ETH/BTC ratio, which has reached a new low, and is now trading at 0.03729, a rise of 3.55% in the past 24 hours. ETH Price Chart Whale takes advantage of the big rise Ethereum, as a representative of altcoins, has a large rise that has not been seen for a long time, coupled with the BTC market proportion is at a high level of more than 60%, the market is full of expectations for the arrival of the "cottage season". However, the ancient Whale began to dump at this time. According to on-chain analyst Ember monitoring this morning, an Address hoarded 11,004.9 ETH at $3.45 per coin 8 years ago and ended its long hibernation today and began selling these ETH in large quantities. From 8 a.m., the Whale has sold 8,699 ETH in two hours, exchanged for 24.03 million USDC, and sold for an average of $2,762. Not only that, according to Aunt Ai's monitoring, an Ethereum ICO Whale holding 150,000 ETH was suspected of dumping 15,000 ETH yesterday (6), worth about $39.38 million. Since September 22, the Whale has accumulated dumping 65,000 ETH worth about $164 million. While Whale's dumping doesn't mean Ethereum can't rise up, as Whale continues to reduce its position, the market is concerned about whether the current Ethereum price has reached a short-term high. Ember Monitors Potential Catalyst for Whale Ethereum Selling ETH This Morning Looking ahead to Ethereum's outlook, one of the most anticipated short-term Favourable Information is the Pectra upgrade. This upgrade includes Prague (executive layer) and Electra (consensus layer) updates and is expected to be available in the first quarter of 2025. Decentralized Finance analysts pointed out that important updates to the Pectra upgrade include: account abstraction: simplifying the Wallet management process and significantly improving the user experience; STAKE Optimization: Provides more flexible options for STAKEs with smaller funding sizes; Scalability improvements: Expand blob capacity by 2-3 times. In response to criticism that L2 growth has led to a decline in mainnet revenue and inflation in ETH, Federico Brokate, vice president of 21Shares, said there is no need to worry. This, he argues, is similar to Amazon's losses for several consecutive quarters in the 1990s. He believes that Ethereum is attracting millions of new users at low cost through its L2 scaling strategy, and eventually the cost of L2 acquisition will become "large enough" for EthereumMainnet revenue to return to pre-Dencun levels. The Ethereum ecosystem maintains a dominant position in the Decentralized Finance space with a top-notch development team and constantly rolling out innovative technologies. Especially in the current hot application narrative, the development prospects of RWA are considered huge, and the main scenario of this application is also concentrated in Ethereum Mainnet. In addition, the Ethereum Foundation recruited 5 full-time fellows in mid-October to focus on exploring "emerging applications" on Ethereum, which is also part of the market's expectations. Ethereum co-founder Vitalik Buterin also continues to comment on the technology roadmap. He recently shared his goals and approach to the Merge, Surge, Scourge, Verge, Purge and Spurge phases that will have a profound impact on the future of Ethereum. Especially in the Surge phase, he emphasized that L1+L2 collaboration will enable Ethereum to reach 100,000 transactions per second, integrate into a unified ecosystem, and further increase the processing power of the mainnet. Related Stories Vitalik Buterin Domineering: Give Me Respect! The Ethereum Foundation sells ETH not to play people for suckerssucker, but to ensure the operation and development of Ethereum is not saved? 21Shares refutes: ETH has great potential! Just like Amazon BTC in the 1990s, BTC broke through $76,400 and reached a new high! Ethereum stands at 2800, Trump wins the market, U.S. stocks soar higher "Ethereum rises 13%" Whale but dumped" ETH Short-term highs have arrived? This article was first published in BlockTempo "Dynamic Trend - The Most Influential Block Chain News Media".