Ethereum

Victory

Donald Trump

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-reaches-three-month-high-after-trumps-victory/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Reaches Three-Month High After Trump’s Victory</a> 
Ethereum (ETH) price soared today to its highest level in three months following the election of crypto-friendly Donald Trump as the next president of the United States. The significant political event has bolstered market sentiment, triggering a notable increase in ETH’s value.
<h2 id="eth-s-surge-and-performance">ETH’s Surge and Performance</h2>
In the past 24 hours, ETH witnessed an 8% increase, reaching $2,867, a level not seen since early August. According to CoinGecko data, ETH’s recent gains outpaced Bitcoin ‘s 2.7%, Solana ‘s 5.3%, and <a href="https://en.coin-turk.com/hacker-loses-assets-worth-50-million-after-600-million-bnb-heist/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/monero-price-drops-as-binance-announces-delisting/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> Coin’s 3.3% increases.
Research analyst Aurelie Barthere from Nansen commented via Telegram, “Ethereum is attracting attention with expectations of a DeFi resurgence following Trump’s victory.”
<h2 id="trump-s-influence-on-the-crypto-world">Trump’s Influence on the Crypto World</h2>
Expectations for growth are supported by Trump’s victory, the Republican majority in the Senate, and the election of several crypto-friendly members in Congress. Data scientist Carlos Mercados predicts a new era of acceleration, backed by favorable regulations.
Trump and his family maintain close ties with the Ethereum-based DeFi protocol World Liberty Financial, which launched its first token sale a month before the presidential election. The governance community of leading lending protocol Aave largely supports the distribution of Trump-supported protocol as an Aave example to provide stablecoin liquidity for Ethereum.
The ETH/BTC pair, which measures the price performance between the two coins, rose from 0.034 to 0.037 since Wednesday. According to SoSoValue data, net inflows of the spot ETH ETF on November 6 amounted to approximately $52.3 million, marking the fifth largest daily figure since its launch in July.
Barthere noted that net inflows of spot ETH are a significant indicator of demand. “This statistic helps measure the broad adoption of ETH, which has not yet occurred meaningfully since the launch of the ETH ETF.”
The rise of Ethereum is driven by expectations of political changes following Trump’s victory, potentially leading to shifts in the <a href="https://en.coin-turk.com/india-enhances-oversight-of-major-crypto-exchanges/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> and the emergence of new opportunities.
The post <a href="https://en.coin-turk.com/ethereum-reaches-three-month-high-after-trumps-victory/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Reaches Three-Month High After Trump’s Victory</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Ethereum Reaches Three-Month High After Trump’s Victory

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