The price of %Ethereum (CRYPTO: $ETH) has risen 10% and surpassed $2,800 U.S. for the first time since August as investors turn bullish on decentralized finance (%DeFi) under a second Donald Trump presidency.
In recent months, Ethereum has traded in a range of $2,300 U.S. to $2,600 U.S. and trailed the performance of %Bitcoin (CRYPTO: $BTC).
But now, investors appear to be enthusiastic about Ethereum once again after Donald Trump won the U.S. presidential election and will be returning to the White House.
The bullish sentiment comes from Trump’s promises on the campaign trail to make the U.S. a leading hub for cryptocurrencies and reduce regulations for DeFi.
Analysts say they are optimistic that reducing the regulatory burden on crypto will make it easier for DeFi platforms to operate within the U.S.
This could involve clearer guidelines for token offerings and recognizing certain tokens as commodities rather than securities.
Mindshare, which tracks social media sentiment on X/Twitter, has found that the term “DeFi” is leading among other trending topics such as A.I. and meme coins currently.
Ethereum’s price has now risen 20% on the year and is currently trading at $2,818.84 U.S.