When
a
beleaguered
asset
is
met
with
a
burst
of
good
news,
it
can
unleash
powerful
bullish
momentum,
often
outshining
the
broader
market.
Ethereum’s
native
token,
Ether
(ETH),
is
experiencing
this
phenomenon
following
pro-crypto
Donald
Trump’s
victory
in
the
U.S.
election
and
the
Fed
rate
cut
earlier
this
week.
ETH,
the
world’s
second-largest
cryptocurrency
by
market
value,
surged
past
$3,000
on
Saturday,
reaching
the
highest
since
Aug.
2,
according
to
CoinDesk
data.
Prices
have
risen
23.39%
this
week,
the
biggest
gain
since
May,
outperforming
BTC’s
11.2%
gain
by
a
significant
margin.
The
total
crypto
market
capitalization
has
increased
by
13.5%
to
$2.5
trillion.