CDS Crypto News Ether Bull Run Accelerates After Positive News from Fed and Trump Election Win
Crypto News

Ether Bull Run Accelerates After Positive News from Fed and Trump Election Win

141
Ether Bull Run Accelerates After Positive News From Fed And Trump Election Win

Ether Bull Run Builds Amid Fed Rate Cut and Pro-Crypto Election Outcome

Ether Bull Run Builds Amid Fed Rate Cut And Pro-Crypto Election Outcome

When a struggling asset receives a positive update, it can generate strong bullish momentum and frequently outperform the overall market. After the Fed rate cut earlier this week and pro-crypto Donald Trump’s win in the U.S. election, Ethereum‘s native token, Ether, is experiencing this phenomenon.

Ethereum Outshines Bitcoin with 21.85% Weekly Gain: Fed Rate Cuts and Regulatory Hopes Drive Rally

According to CoinDesk data, ETH, the second-largest cryptocurrency in the world by market value, jumped beyond $3,000 on Saturday, hitting its highest level since August 2. This week’s price increase of 21.85% is the most since May and significantly outpaces Bitcoin’s 11.2% growth.

Two things may have contributed to ETH’s market-beating gain. First, there is optimism that the Trump administration will loosen regulations pertaining to the digital assets sector, which might encourage expansion in the Ethereum-dominated field of decentralized finance. The Fed rate cut cycle is another equally significant aspect that makes ether a more attractive internet bond by providing a fixed-income return through staking incentives.

ETH Price Rise Likely to Persist Amid Fed Rate Cut and Rising ETF Inflows

The Federal Reserve slashed the benchmark borrowing cost by 25 basis points on Thursday, bringing it down to a range of 4.5% to 4.75% after making an unprecedented 50 basis point cut in September. The so-called Fed-ether yield disparity has gotten less in favor of ETH as a result of the rate cut. It appears that the ETH rise will continue based on the current pricing of ether options displayed on Deribit.

Additionally, inflows into ETFs that track spot ether have increased. Farside Investors reports that BlackRock’s iShares Ethereum Trust ETF (ETHA) saw an inflow of about $60 million on Friday, the largest within the last three months.

For more up-to-date crypto news, you can follow Crypto Data Space.

Ether Bull Run Accelerates After Positive News From Fed And Trump Election Win
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Pepe Price Soars 30% After Robinhood Crypto Lists Memecoin for Spot Trading

Pepe Price Soars 30% After Robinhood Crypto Lists Memecoin for Spot Trading

Bitcoin Surges to New Highs After Trump’s Win: Analysts Predict 2024 BTC Price Outlook

Bitcoin Surges to New Highs After Trump’s Win: Analysts Predict 2024 BTC...

Bonk Price Soars: Key Support Level Holds as Cryptocurrency Bull Run Gains Momentum

Bonk Price Soars: Key Support Level Holds as Cryptocurrency Bull Run Gains...

Musk and Ramaswamy Tasked by Trump to Improve Government Efficiency Under Historic D.O.G.E. Initiative

Musk and Ramaswamy Tasked by Trump to Improve Government Efficiency Under Historic...