The votes are still being counted, but after winning in Pennsylvania, Donald Trump is almost certain to win the election. The cryptocurrency market is reacting with complete euphoria.
Bitcoin has set a new all-time high of $75,361, despite being below $70,000 just yesterday. Ethereum also saw over a 7% gain in a single day.
Solana Overtakes BNB to Reclaim Fourth Place
Solana is soaring, gaining 14% and overtaking BNB to become the fourth-largest cryptocurrency once again, after Bitcoin, Ethereum, and Tether. This impressive leap showcases Solana’s growing influence and the shifting dynamics within the crypto market.
Dogecoin’s Going To The Moon
Dogecoin is up an astounding 20%. This surge seems linked to Donald Trump’s willingness to let Elon Musk create a Department of Government Efficiency. Elon Musk has been posting the acronym of this institution, D.O.G.E., multiple times. While the exact connection is unclear, it has generated new hype for Dogecoin – and many other memecoins, as almost all of them are seeing double-digit gains.
Everything In Green
Other cryptocurrencies are also soaring. Uniswap is up 28%, AAVE is over 20%, and SUI is up 17%, coming close to its all-time high. Except for a slight 0.1% drop of Monero, every single cryptocurrency from the top 100 is up. The entire crypto market cap has increased by 12%, while the trading volume has almost tripled compared to yesterday.
With such high excitement and increased trading volumes, it’s hard to predict what the final outcome of this euphoria will be. The current enthusiasm shows a strong positive sentiment among investors. It’ll be interesting to see how this momentum develops in the coming days.
