Ethereum Classic (ETC) Pumps 12% as Donald Trump Wins the 2024 Presidential Election

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.”

Cryptocurrency Ethereum Classic (CRYPTO: ETC) has surged about 12% to $20.26 since Tuesday evening, as Donald Trump won the 2024 presidential election.

Trump's victory, along with the Republican Party gaining control of the Senate, suggests a change in U.S. economic policies, which could include corporate tax cuts, trade tariffs, and measures to combat inflation. These policies may impact both traditional and digital markets.

Here's what to know: A key factor driving Ethereum Classic's rally is Trump's positive stance on cryptocurrencies, including his goal of making the U.S. a "Bitcoin superpower." This renewed focus on crypto assets as a store of value and an inflation hedge has increased investor interest in digital assets like Ethereum Classic, which is considered a secure alternative to newer, more volatile coins.

Trump's expected economic policies could lead to higher inflation, with experts estimating an increase of up to 2.4%. This could drive investors to cryptocurrencies as a way to protect against the declining value of the dollar.

Ethereum Classic has also gained a strong following due to its decentralized nature and adherence to the original Ethereum vision. As retail investors search for safe havens amid economic uncertainty, the coin's appeal could grow in an environment marked by rising inflation fears.

As the digital asset market matures, the interplay of regulatory shifts, M&A activity, and adoption trends will shape the future of this dynamic sector. Benzinga's Future of Digital Assets event in New York City this November will bring together industry leaders and investors to delve deeper into these developments, providing attendees with insights into the evolving regulatory landscape and the latest market dynamics.

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