Ethereum Classic ETC/USD has gained roughly 12% to $20.26 since Tuesday evening amid Donald Trump winning the 2024 presidential election.
Trump’s win, coupled with the Republican Party regaining Senate control, hints at a shift in U.S. economic policies, potentially involving corporate tax cuts, trade tariffs and measures to combat inflation—factors that could influence both traditional and digital markets.
What To Know: A key driver behind Ethereum Classic’s rally is Trump’s pro-crypto stance, including his vision of the U.S. becoming a “Bitcoin superpower.” This renewed focus on cryptocurrencies as a store of value and inflation hedge has sparked investor interest in digital assets like Ethereum Classic, seen as a secure alternative to newer, more volatile coins.
Trump’s anticipated economic policies could increase inflation, with experts predicting up to a 2.4% rise, pushing investors toward cryptocurrencies as a way to safeguard against the dollar’s decline.
As the digital asset market continues to mature, the convergence of regulatory shifts, M&A activities, and adoption trends will define the future of this dynamic field. Benzinga’s Future of Digital Assets event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.
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