Ethereum's native token, Ether, is experiencing its best weekly performance since May, with a nearly 16% increase to around $2,880 on November 7. This surge comes after pro-crypto policies promised by Donald Trump, the president-elect, following his electoral victory, which contrasts with the more restrictive stance of the current administration. Trump's personal holdings of 495.279 ETH valued at $1.41 million have further encouraged positive market sentiment. Additionally, the Michigan State Retirement System disclosed a $10 million investment in Ethereum exchange-traded funds (ETFs), suggesting growing institutional confidence in Ether's potential. The price rally is also supported by technical patterns, indicating that ETH could reach as high as $3,600 if it maintains its upward momentum. Investors are advised to conduct their own research, given the inherent risks in trading cryptocurrencies.

Source 🔗