Ethereum price hits a new high, a first in three months - Latest cryptocurrency news
Today, the price of Ethereum (ETH) skyrocketed, setting a new record three months after Trump's election as the next president of the United States.
Ethereum (ETH) price surged today, reaching the highest point since Trump’s victory three months ago. This major political news has brought a lot of joy to the market, and ETH also benefited, with prices soaring.
How is ETH doing recently?
In just one day, ETH rose by 8%, soaring to $2867, which is the first time since early August. Bitcoin, on the other hand, wasn’t as strong, only increasing by 2.7%. Solana and Binance, according to CoinGecko data, rose by just 5.3% and 3.3%, respectively.
What impact does Trump's election have?
Trump and the Senate Republican majority won, and many representatives who favor cryptocurrency were also elected to Congress. This has led to more optimism for Ethereum. Data expert Carlos Mercados stated that this indicates a better regulatory environment, and Ethereum is likely to see a significant increase.
Recent events, to put it simply:
The rise in Ethereum prices is largely due to the political shift after Trump’s election. On November 6, $52.3 million flowed into the spot ETH ETF, marking the fifth highest since its launch. Everyone is hoping that decentralized finance (DeFi) can ignite once again. With Trump’s election, the political landscape has changed, making Ethereum's upward trend more stable, and the cryptocurrency realm may be on the verge of significant changes, creating new opportunities.
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