Donald Trump’s Election Victory and Its Impact on the Crypto Market
Donald Trump’s win in the US presidential election triggered a wave of FOMO (Fear of Missing Out) in the cryptocurrency market. This allowed the price of Bitcoin to reach an all-time high above $76,000. The altcoin market also had its share of this rise; Particularly positive news created significant increases in the value of tokens. The announcement by leading crypto exchange Coinbase that it would list a token on the futures market was an important factor in this increase.
Coinbase and RAY-PERP Agreement
Coinbase announced that it will add support for Raydium Perpetual Futures through Coinbase International Exchange and Coinbase Pro. It was announced that the RAY-PERP market will open on November 14, 2024 at 12:30 or later. This announcement created great excitement among investors and a significant increase in the price of the RAY token was observed. RAY increased from $ 3.71 to $ 5.05 during the day, showing an increase of approximately 31%. At the time of writing, RAY was trading at $4.87. However, there was a significant increase of 84% in the transaction volume of the RAY token. This situation clearly shows that the interest of investors and traders in this token is increasing.
Trump’s Crypto Policies and Market Sentiment
Donald Trump frequently expressed his support for the cryptocurrency industry during the election campaign. He promised improvements to the regulation of cryptocurrencies. Trump’s promises included supporting the development of crypto-based financial products, loosening restrictions on digital assets and creating a national Bitcoin reserve. These promises were widely received positively, with many crypto users viewing Trump’s election victory as a bullish sign for the industry.
Social Media and the Bullish Sense
Discussions on social media platforms show that bullish sentiment is growing. Altcoin Buzz analyst highlights that rising Fear of Missing Out (FOMO) could be a major catalyst for the next bull run. At this point, how users perceive Trump’s cryptocurrency policies is also of great importance. Users see Trump’s promises as a step towards creating a friendlier crypto environment, which has a positive impact on market sentiment.
Trump’s Cryptocurrency-Based Promises
- Supporting US-based crypto mining
- Opposing the creation of a Central Bank Digital Currency (CBDC)
- Defending self-custodial rights for crypto users
These promises of Trump are considered a great ray of hope by many crypto investors. Users are driven by the belief that such policies will increase the value of cryptocurrencies and enable them to gain wider acceptance. As a result, a more optimistic view has emerged about the future of cryptocurrencies under Trump’s leadership.
Conclusion
Donald Trump’s victory in the presidential elections had a huge impact on the cryptocurrency market. Bitcoin reaching its all-time high and the appreciation of altcoins are concrete examples of this effect. Offering new products by exchanges such as Coinbase increases the interest of investors and positively affects market sentiment. Trump’s cryptocurrency policies and promises strengthen the positive atmosphere in the industry and create a basis for possible future rises.
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