Ethereum (ETH) has experienced a 20% surge in value over the past two days following Donald Trump's victory in the US presidential election. This rise has brought attention to Ethereum's decentralized finance (DeFi) sector, which has been rebounding in terms of total value locked (TVL) in DeFi protocols. Analysts suggest that this growth in DeFi is a sign of a "DeFi renaissance" and that macroeconomic factors such as low interest rates will continue to boost the adoption of DeFi. The upcoming 2024 US presidential elections may offer regulatory clarity for DeFi, potentially increasing investor confidence. Ethereum faces competition from other smart contract platforms like Solana, but experts predict that ETH could reach $3,400 if it surpasses certain resistance levels. There has also been an increase in Ethereum whale activity, indicating that experienced ETH holders are accumulating the token. Currently, ETH is trading at $2,806 with a market cap of $338.6 billion.



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