Is Trump’s presidency a bigger win for DeFi than Bitcoin?

Mark O'Donnell
- Research Analyst -
November 8, 2024
CFD, Commodities, Forex, Trading Opportunities

Ethereum is outperforming Bitcoin following Donald Trump’s 2024 presidential victory, with Ether (ETH) gaining momentum.
Trump’s administration is expected to support blockchain-friendly policies, particularly those encouraging DeFi innovation.

Were decentralized finance (DeFi) assets like Ethereum underestimated leading up to the election?

Ethereum is now outpacing Bitcoin following Donald Trump’s 2024 U.S. presidential win, with Ether (ETH) gaining 4% in the past 24 hours (and 14.1% in the past 5 days). Bitcoin on the other hand is down 0.4% in the past 24 hours)

Analysts suggest that the Republican administration’s expected support for DeFi will play a pivotal role in Ethereum’s growth.

Trump has signaled interest in policies that could nurture blockchain technology, encouraging legislative reform to promote DeFi innovation in the U.S.

Bitcoin may hold its status as a store of wealth (and even a potential alternative reserve for the US treasury), but Ethereum’s recent performance suggests it’s increasingly well-positioned to benefit from the changing policy environment.

Economic Calendar

02:15 AM -

13-12-2024

02:45 AM

ECB Interest Rate Decision

02:15 AM -

13-12-2024

02:45 AM

ECB Deposit Facility Rate Decision

12:50 PM -

13-12-2024

01:20 PM

BoJ Tankan Large Non-Manufacturing Index

Japan

View all events →

Most Traded

Trading Opportunities

Finally some relief for the Australian Dollar | FX Research

December 13, 2024

EUR tests support: Fed decision next

December 13, 2024

AUD: Oversold ahead of RBA decision?

December 9, 2024

Yen and Aussie slide | FX Research

December 5, 2024

Limited offer:

Get Free

The TraderKeys keyboard can take your gold trading to the next level, with preprogrammed hot keys enabling you easily execute and modify trades.

Start trading in less than 5 minutes

with no minimum deposit

AWARDED BY THE BEST

FIND US ON

NZ PHONE

+64 9 558 5142

support@blackbull.com

HEAD OFFICE

Level 20, HSBC Tower,
188 Quay Street,
Auckland 1010,
New Zealand

Markets

Platforms

Education

About

Support

Legal

BlackBull Markets is proud to be a Major Partner of the Starship Foundation supporting the vital work of Starship, New Zealand’s national children’s hospital.

BlackBull Markets and its associated entities have access to provide over 26000 tradable instruments to clients across all our Trading Platforms.

Black Bull Group Limited (trading name: BlackBull Markets) is a company registered and incorporated in New Zealand (Company Number 5463921, NZBN 9429041417799) located at Level 20, 188 Quay St Auckland 1010. Black Bull Group Limited is a registered Financial Services Provider (FSP403326).

BBG Limited (trading name: BlackBull Markets) is limited liability company incorporated and registered under the laws of Seychelles, with company number 857010-1 and a registered address at JUC Building, Office F7B, Providence Zone 18, Mahe, Seychelles. BlackBull Markets’ head office is in Auckland, New Zealand. The Company is authorised and regulated by the Financial Services Authority in Seychelles (“FSA”) under license number SD045 for the provision of the investment services.

BlackBull Group UK Limited is registered in the United Kingdom, Company Number – 9556804. Services provided by: BlackBull Group UK Limited (Company Number – 9556804) Address – 6 Thornes Office Park Monckton Road, West Yorkshire, England, WF2 7AN.

Black Bull Trade Limited is a New Zealand limited liability company incorporated and registered under the laws of New Zealand, with NZBN 9429049891041 and registered address Floor 20, 188 Quay Street, Auckland Central, Auckland 1010, New Zealand. Black Bull Trade is registered FSP1002113.

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.

BlackBull Markets does not accept client applications from Canada and the United States.

This offer of services is also not intended for residents of the European Union, the United Kingdom nor any non-resident of New Zealand.

The domain blackbull.com is registered under our company, Black Bull Global Limited.

Black Bull Group Limited is wholly owned by Black Bull Global Limited.

Join Now