Summary:
Trump's election has energized the cryptocurrency market.
Ether surged from $2,400 to $2,800, a 16% increase.
$52 million flowed into spot Ether ETFs post-election.
Solana's price jumped from $160 to $196, a 22.5% increase.
A New Wave in Cryptocurrency
Donald Trump's return to the White House has generated excitement throughout the cryptocurrency market.
Photo: JTSorrell (Getty Images)
Ethereum's Rally
Ether, the second-largest cryptocurrency by market capitalization, has been rallying alongside Bitcoin. On Election Day, Ether was trading around $2,400, but it has surged to $2,800 – a more than 16% bump in just two days.
Additionally, spot Ether ETFs (exchange-traded funds) have experienced renewed inflows following Trump's victory, reversing a period of sustained outflows. According to data from crypto ETF tracker Farside, investors poured $52 million into spot Ether ETFs on November 6.
Illustration: BackyardProduction (Getty Images)
Solana's Significant Growth
Solana, regarded as a competitor to Ethereum, has experienced significant growth over the years, driven by its speed and efficiency. User activity on the Solana blockchain has surged, making it a popular platform for hosting decentralized applications.
After Trump’s victory, the price of Solana surged from $160 to $196, marking a 22.5% increase in just two days.
Illustration: Dennis Diatel Photography (Getty Images)
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