With Bitcoin's price surging past $75,000, altcoins have started to rebound, as Ethereum's previously faltering price sets a recovery path with a notable 17% uptick over the last month. Adding to the hype is a recent move by an ETH whale who sold some 13,400 ETH, leaving onlookers to speculate a bullish resurgence for ETH. Expert analysts view the move by the whale as a sign of increasing open interest in ETH building up.
Already, Ethereum ETFs have registered a significant increase in investment volume after a pro-crypto Donald Trump won the U.S. election. With excitement over Trump's victory building up, market watchers anticipate further upside for Ethereum as well as an emerging hot new crypto project in DeFi.
Analysts forecast a bullish ETH price prediction as ETH whales take profit
ETH price predictions are all leaning bullish right now despite a previous bearish sentiment that saw ETH’s price stagnate below $3,000. With positive sentiment now sweeping across the crypto market, the price of ETH has surged over 7% in 24 hours and could continue its 17.2% uptick over the last 30 days.
Ethereum’s bloated network and increasing gas fees are among the reasons for its lackluster performance over the past few months despite a bullish crypto market. ETH’s price has remained in the region of $2,500 since August after a market-wide downturn, which saw it face major resistance at the $4K mark.
Compared to Bitcoin's year-to-date gain of 77%, Ethereum's paltry 23% uptick has seen it fall out of investor favor, who have shifted their attention to emerging hot new crypto projects in the world of DeFi. Ethereum’s current price is a drop of 42% from its all-time high of $4,878 back in 2021.
Another reason for ETH's poor performance is the U.S. rising interest rates that rival Ethereum's staking yield. A move by the U.S. government to cut the rate of borrowing capital could act in favor of ETH. Also, as whales take profit, open interest in Ethereum ETFs could increase.
Lunex (LNEX) emerges as the next hot new crypto in DeFi
While Ethereum's ecosystem struggles to reclaim its dominance, a new player in the DeFi world is disrupting the market with its presale, which has already raised over $ 2 million. Lunex is developing a cross-chain transaction network with deep liquidity.
This is a non-custodial DEX and aggregator capable of speedy and secure asset transfers across 50,000 currency pairs. Lunex's multi-chain bridge rivals the speed, efficiency, and liquidity of centralized exchanges while offering the security and anonymity of a DEX.
What’s more, the platform’s LNEX token features low network fees and can be used to govern Lunex’s future trajectory. Currently priced at $0.002, over 1.3 billion LNEX tokens have been sold so far.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
ETH price predictions estimate a price recovery above $4K for the second-largest crypto by market cap. However, it remains to be seen whether Ethereum's network will scale to rival the likes of Solana. It seems that attention is shifting towards DeFi, with projects such as Lunex tipped to surge 100x on launch day.
You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork
