With the victory of Donald Trump in the American presidential elections, the world of cryptocurrencies and blockchain is in full euphoria. For the director of Consensys, Joseph Lubin, this could well benefit the Ethereum blockchain which could be free to deploy its full potential.
According to Joseph Lubin, the Ethereum blockchain is ready to soar following Donald Trump's victory
During the 2024 edition of Devcon taking place in Thailand, Joseph Lubin, CEO of Consensys, spoke about the blockchain he co-founded: Ethereum. According to him, the protocol is “ ready to benefit » of the potential benefits of Donald Trump's victory in the US presidential elections.
For the co-founder of Ethereum, “ the United States has been putting obstacles in the way of Ethereum for quite a long time, which caused a lot of fear, uncertainty and doubt “. Joseph Lubin quickly mentioned the Securities and Exchange Commission (SEC) whose conservative policy regarding the regulation of cryptocurrencies has been widely criticized by the industry.
👉 Discover our file on the standoff between the SEC and the crypto industry
“ We have lived for a long time in a world where we are manipulated, a world generously manipulated by the SEC. I think it's pretty clear to say that all of this was driven by the progressive side of the Democratic Party, » said the CEO of Consensys. The latter had already made similar remarks on the American financial policeman last May.
According to Joseph Lubin, Donald Trump's upcoming inauguration as the 47th President of the United States will enable a change in the direction of the SEC that will be favorable to the crypto ecosystem and Ethereum. At present, Gary Gensler is still the president of the regulatory authority, but Donald Trump had promised to fire him once he was elected.
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Ether records a greater increase than Bitcoin (BTC)
Following the announcement of the victory of the Republican candidate in the American presidential electionsthe cryptocurrency market is on the rise. In addition to Bitcoin (BTC) which reached its ATH not far from $90,000, the price of Ether (ETH) also experienced a spectacular increase by almost 40% in one week.
This rise in Ether is more important than that of Bitcoin whose price has “only” increased by 30% over the last 7 days. In the same way, the Ethereum spot ETFs available on American soil have experienced an increase in their net inflow in recent dayseven recording a record with $295 million of net inflows on November 11.
📈 Also read – Our guide to quickly and easily acquiring Ether (ETH)
For Joseph Lubin, this trend suggests a bright future for the Ethereum blockchain :
We have already seen a more favorable rebound in Ether […] SO, Ethereum is better positioned to benefit more than other protocolsI think, especially because this blockchain is simply much larger and more mature than all other ecosystems, except Bitcoin, which is admittedly mature but limited in its scope of action.
In the last 24 hours, ETH saw a 2.23% decline and is trading at $3,169.
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Source: CoinTelegraph
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Surprised by the rise of crypto-assets at the end of the 2010s, I began to closely follow this sector which fascinates me to the greatest extent. When I'm not in football stadiums, rugby stadiums or handball halls, I work on writing relevant articles around cryptocurrencies and more broadly, Web3.
Zacharie Tazrout
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