Ethereum's price movement today can be attributed to a combination of factors, including the anticipation surrounding President-elect Donald Trump's potential executive order on cryptocurrencies and the expiration of significant Ethereum options. Rumors suggest that Trump may prioritize crypto as a national agenda, potentially creating a more favorable regulatory environment. This speculation has fueled optimism in the market, contributing to Ethereum's upward trajectory. Additionally, the expiration of approximately $3 billion in Bitcoin and Ethereum options today has heightened market volatility, prompting traders to adjust their positions and strategies.
The introduction of Ethereum staking by Swiss bank PostFinance has also played a role in today's price movement. By offering Ethereum staking, PostFinance allows its customers to earn passive income from their ETH deposits, which could increase demand for Ethereum. Dr. Alexander Thoma, head of digital assets at PostFinance, emphasized the transparency and security of their staking service, which is integrated with the bank's existing offerings. This development positions Ethereum as a more attractive investment option for traditional banking customers, potentially driving further interest and investment in the cryptocurrency.
Ethereum's price has risen by 3.10% today, reaching a high of $3409.98.