Why Ethereum Classic Is Seeing Blue Skies

Zinger Key Points
  • Ethereum Classic is trading higher by 4.1% during Monday's session.
  • Altcoins are surging as Trump’s election hinted at a pro-crypto U.S. policy shift.

Ethereum Classic ETC/USD is trading higher by 4.1% to $23.41 during Monday’s session, and is up 30% over the past week, following a new all-time high for Bitcoin. Shares of several altcoins have experienced a strong uptick following Donald Trump's election victory as the 47th U.S. president, signaling a possible pro-crypto shift in U.S. policy.

What To Know: A recent analysis from Bernstein, advising investors to "buy everything you can" in the crypto market, underscores the growing confidence around digital assets, especially as Trump's administration, along with a Republican-controlled Senate, is expected to push pro-business and potentially crypto-friendly policies.

Ethereum Classic, known for its decentralized governance and historical focus on immutability, stands to benefit uniquely in this environment. Trump's proposed tax cuts and regulatory rollbacks are likely to encourage investments in blockchain projects, with Ethereum Classic appealing to investors seeking both growth potential and a decentralized structure.

Read Also: Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuations?

Bernstein’s bullish report also highlights a favorable regulatory landscape, suggesting that the Trump administration's stance could alleviate previous regulatory concerns, attracting fresh capital into the crypto market.

With inflation risks potentially on the horizon due to Trump's proposed tariffs, Ethereum Classic becomes particularly attractive as a hedge against traditional currency volatility. As ETC's supply is capped, it offers inflation-resistant properties that could appeal to institutional and retail investors alike.

Bernstein’s prediction of a pro-crypto surge in adoption adds further fuel, suggesting Ethereum Classic could capture a share of investor interest as regulatory headwinds fade and mainstream adoption accelerates.

Read Also: Trump’s Historic Return: 7 Ways His Second Term Could Impact The US Economy

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!