Impact of US Presidential Elections on the Crypto Market
As we emphasize as Kriptokoin.com, the fluctuations expected to be caused by the US presidential elections in the markets have created a real impact and brought about significant changes in the cryptocurrency world. Especially the increasing probability of Republican candidate Donald Trump to win created a positive atmosphere in the crypto community. This created a strong upward wave for Bitcoin and many altcoins. BTC price attracted the attention of investors by exceeding $ 74,000. Leading altcoins such as Dogecoin also made significant gains from this election atmosphere.
Current Situation in Leading Cryptocurrency Bitcoin Price
Bitcoin (BTC) price increased by approximately 9% in the last 24 hours, reaching $74,366. The lowest and highest levels during the day were recorded as $68,147.62 and $75,011.06, respectively. While BTC’s market value increased to $1.47 trillion, its market dominance increased to 59.60%. This rise occurred despite an outflow of approximately $72.67 million from spot Bitcoin ETFs. Investors consider this strong movement of Bitcoin as a result of market participants’ search for a safe haven. While uncertainties continue about how the post-election scenarios will take shape, the rise of BTC has led to increased confidence in the market.
Latest Status in Ethereum Price
Ethereum (ETH) is currently trading at $2,579, up nearly 7% in the last 24 hours. The lowest and highest levels during the day were recorded as $ 2,402.50 and $ 2,631.72. Ethereum’s market cap is around $310.25 billion. Spot Ethereum ETFs, on the other hand, did not show any noticeable movement in terms of net inflows, indicating that investors’ interest in Ethereum continues. Analysts state that if Ethereum gains strong momentum at technical levels, a new upward wave may be at the door. This may lead to increased investor confidence in Ethereum.
Solana and XRP Price Movements
Solana (SOL) is trading at $184, gaining 16% in the last 24 hours. The low and high levels for the day were $159.38 and $185, respectively. The market value increased to 87.09 billion dollars. This increase indicates that Solana maintains its strong position in the market. Solana’s fast transactions and low costs increase its popularity among investors.
XRP is currently trading at $0.5312, registering a 6% increase in the last 24 hours. The low and high levels during the day were set at $0.5048 and $0.5359. Transfers of $814 million by cryptocurrency whales have sparked remarkable speculation among investors. These transfers could have a significant impact on the future price movements of XRP.
Meme Coin Performances and Winning Cryptocurrencies of the Day
Dogecoin (DOGE) rose 27% in the meme coin sector to $0.2074. At the same time, Shiba Inu (SHIB) is up 11%. Other meme coins such as PEPE, WIF and BONK also gained between 15%-20%. While this rise shows investors’ continued interest in meme coins, it also reminds us of the speculative nature of the market. This rise of meme coins continues to attract the attention of investors.
Besides, Goatseus Maximus (GOAT) price increased by nearly 50% to $0.7005. Among other altcoins, Sui (SUI) increased by 21% and dogwifhat (WIF) increased by 20%. Such increases indicate investors’ willingness to move into higher-risk assets and may affect overall market dynamics.
Cryptocurrencies Showing Decline
TRON (TRX) is trading at $0.1621, down a small 0.21% in the last 24 hours. Monero (XMR) fell to $159 with a loss of 0.2%. These small declines present a calmer outlook than the overall uptrend of the market. However, the effects of this situation on the market should be monitored carefully. Investors should be cautious about the potential future gains of declining cryptocurrencies.
Conclusion
The impact of the US presidential elections caused major fluctuations in the cryptocurrency market. In addition to leading cryptocurrencies such as Bitcoin and Ethereum, significant increases are also observed in altcoins. However, investment decisions should be made taking into account the high volatility and uncertainties of the market. Cryptocurrency investors should minimize their risks by analyzing market dynamics well.
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