Donald Trump's victory in the US presidential election catalyzed a surge in interest in cryptocurrencies like Ether. Analysts forecast a short-term price breakout with a target of $3,200.
Ether Set for $3,200 Breakout
Analysts anticipate a rise in Ether prices to $3,200 due to increased risk appetite after Trump's victory. Positive ETF inflows followed the election results, adding $52.3 million on November 6 and $79.7 million on November 7.
SEC Reform Urged Post-Election
Following Trump's win, Paul Grewal, Coinbase's chief legal officer, urged SEC to change its regulatory approach to focus more on dialogue and innovation rather than litigation. Trump's promise to replace SEC Chair Gary Gensler could affect the crypto future.
Galaxy Digital's Big Trading Day
Amid Trump's victory, Galaxy Digital, a crypto trading firm, recorded its biggest trading day of the year on November 5. CEO Michael Novogratz stated their platform operated at full capacity, trading with counterparts both in the US and abroad.
Trump's victory has significantly impacted the crypto industry, driving interest in Ether and other assets. Industry representatives highlight the need for SEC reform as major firms see trading volume surges.
