Ethereum Price To Rally To $5,000 After Trumps Election Win, Binance Coin Surges, While New Altcoin Goes Viral
The path for the predictions of Ethereum at $5000 could be clear now that the pro-crypto Trump administration can do away with the infamous SECs Gary Gensler, who has wrongly asserted at various times that everything except for Bitcoin is a security. Meanwhile, Binances BNB coin inches closer to its all-time high and is the third largest coin by market capitalization, and Cutoshis CUTO coin goes up as it reaches stage 3 of presale.
Ethereum Price Surges As Trump Victory Sparks Regulatory Optimism
While Bitcoin has been mooning thanks to investment from the BTC Spot ETFs, Ethereum investors got spooked by the apparent lack of interest in the ETH Spot ETFs. This saw the price of Ethereum dip to lows of $2223 in September this year. ETH ETF providers had no way to include staking rewards, especially since this could change the offering into a security, bringing it under the jurisdiction of the anti-crypto SEC.
However, the recent Trump victory means that SEC chair Gary Gensler and Co. are going to need new jobs, and a much friendlier regulatory environment as crypto is on the way.
As Ethereum continues its development, powering not just Ethereum but all the layer 2s and 3s based on it, this all points to a bullish trajectory for ETH. And the market is reflecting that, with ETH at $3127, up 30% this week.
Data from Santimant and IntoTheBlock suggests that whales have been accumulating Ethereum throughout the dips and are still doing so.
Given this and the continuation of inflows into the Ethereum Spot ETFs, the often-cited price prediction of $5000 seems very possible, especially as Bitcoin continues to hit all-time highs.
Binance Coin Nears All-Time High Amidst Regulatory Relief
Binances BNB coin famously started as an ICO for just $0.15, and raised $15 million. The coin is now getting closer to its all-time high of $707. Binance, which was once the go-to app for most retail crypto traders, has been another casualty of the over-regulation of the SEC and other bodies.
First, they came after their payment processors, making it impossible for countries like the UK to cash out from Binance. Then they went after Paxos, who provided Binances BUSD stablecoin. Finally, they came after Binances CEO CZ, a key figure in crypto. These problems should now go away under the Trump administration.
However, FTX is reportedly suing Binance for $1.74 billion, and while this may affect BNBs price in the short term, Binances PR team hit back saying the allegations are meritless.
CZ, who was recently released from prison, tweeted his happiness that Binance has been doing fine without him saying that it is every founders dream.
Cutoshis Gamified Community Engagement Pushes Presale To Stage Three
Cutoshi is a meme coin DeFi project, built on the Ethereum blockchain.
The aim is to bring the benefits of DeFi to the growing market of memecoin traders. They are making this happen with a DEX platform, utility-based NFTs, a learning academy to teach people the skills they need to make the most out of DeFi, and the ability for people to provide liquidity in the future.
Cutoshi recently announced the commencement of their $CUTO farming program, where people can do quests and get rewarded for community participation and meme creation. The more points people accrue, the more they can swap them for CUTO tokens. Theres a gamified element to make it more fun, as a leaderboard is being created with extra prizes for the most active members.
Cutoshi has just entered stage 3 of its presale, up by 88% this week.
Given that the project is based on a sound idea, and has 7 more stages to go before it launches, the price of CUTO is likely to steadily rise over the coming weeks and months.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
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Text source: Crypto Daily™
