The post Donald Trump crypto holdings grow by $1.6 mln following election win appeared on BitcoinEthereumNews.com.

Donald Trump’s crypto portfolio surged $1.6M, driven by Ethereum’s 38% monthly rally. Justin Sun invested $30M in Trump’s blockchain-focused DeFi project, World Liberty Financial. Donald Trump’s recent presidential victory has sparked a notable reaction across financial markets, particularly within the cryptocurrency sector. Trump’s crypto holding surge Following his election win on the 5th of November, data from market intelligence firm Arkham Intel indicated substantial growth in Trump’s crypto portfolio. This surge aligned with a broader rally in cryptocurrency prices, reflecting a market uptrend fueled by renewed investor optimism and policy speculation in the wake of his triumph. Interestingly, while Bitcoin [BTC] has been a focal point of Donald Trump’s presidential campaign, Ethereum [ETH] emerged as a standout in his crypto portfolio. Holding nearly 496 ETH coins, Trump has benefited from Ethereum’s impressive performance, with the asset surging by 38% over the last 30 days. This notable gain highlights Ethereum’s resilience and growing appeal, even as Bitcoin dominates the broader narrative. Analysts weigh in Remarking on the same, crypto analyst Michael van de Poppe noted,  “A massive bullish divergence on $ETH. What is the primary reason it’s outperforming everything today? The Yields on Government Bonds are dropping massively. The $ETH bull market has started.”  Source: Michaël van de Poppe/X Van de Poppe emphasized that the current volatility in yield markets could play a pivotal role in shaping Ethereum’s future price movements. As Labor Market Week draws near, he suggested that weak economic data could prompt the Federal Reserve to consider additional rate cuts. This potential easing of monetary policy would likely drive yields lower, creating a favorable environment for ETH’s price to climb further. Well, Poppe was not the only one sharing this insight and hence, echoing his sentiment, another analyst, Jesse Olson added,  “The ones who think #Ethereum is a dead…

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Filed under: News - @ November 27, 2024 10:28 am