Ether Blows Past $3K, Builds Bullish Momentum After Trump's Election Win and Fed Rate Cut
Summary
Ether (ETH) surged past $3,000, marking a 23.39% increase this week, outperforming Bitcoin's 11.2% gain. The total crypto market capitalization rose by 13.5% to $2.5 trillion. The rally is driven by hopes of relaxed regulations under Trump's administration and the Fed's rate cut, which enhances ETH's appeal as an internet bond with staking rewards. The Fed reduced rates by 25 basis points, favoring ETH over traditional yields. Deribit options pricing indicates continued bullish momentum for ETH. BlackRock’s iShares Ethereum Trust ETF saw a $60 million inflow, the highest in three months. ETH remains below its 2021 peak.
