As the Republican Party led by Donald Trump secured an overwhelming majority in the US presidential elections, cryptocurrencies emerged as a clear winner. Bitcoin (BTC) rose nearly 10 percent to $75,000 during the day, and meme coin Dogecoin jumped 17 percent to hover around $0.1986. Intraday, Elon Musk-backed Dogecoin rose as much as 25 percent.
On Wednesday, Ethereum rose 7.52% to trade at $2,623, Solana climbed 14.61% to trade at $187, and Binance rose 3.55% to trade at 580. $50. Additionally, Ripple (XRP) rose by 5.16 percent, Cardano by 7.63 percent, and Shiba Inu by 5.05 percent.
Interestingly, Donald Trump did a number of things during his campaign to please those in the crypto industry. The former US president spoke at a Bitcoin conference, handed out burgers at a crypto bar and even made industry-appealing statements, like assuring he would fire the chairman of the Securities and Exchange Commission from the United States, Gary Gensler.
Indian crypto players optimistic
This received approval from Indian crypto players.
Raj Karkara, COO of ZebPay, said: “Bitcoin reaching a new all-time high is a revolutionary milestone that highlights the strength and maturity of the crypto market. As we see Bitcoin’s resilience and growing appeal among investors, it reaffirms its position as a traditional store of value and a powerful tool for those seeking financial autonomy, security, and wealth preservation. This new peak reflects accelerated demand for digital assets. As adoption continues to grow, Bitcoin’s impact on the global financial ecosystem will deepen, and at ZebPay we look forward to serving the needs of our customers as they explore the assets’ vast potential digital.
“Bitcoin today hit a new all-time high above $75,000. The path to $100,000 is now set in this bull cycle. Key altcoins will catch up after Bitcoin’s rally and this will coincide with a strong retail adoption similar to November 2021. This cycle is also unique in terms of memecoins – DOGE, SHIB, PEPE, etc. – doing better than others. sets of altcoins, although we continue to advise caution to our investors,” says Vikram Subburaj, CEO of Giottus.
