As we stated as Kriptokoin.com, the US presidential elections were expected to create fluctuations in the markets. This happened and made a significant impact on the cryptocurrency market. It also created a bullish wave in both Bitcoin and leading altcoins. In particular, the increased probability of Republican candidate Donald Trump’s victory created a positive expectation in the crypto community. BTC price hit $74,000. Many altcoins, including Dogecoin, have made significant gains due to the election effect. Here are the details.
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%. Interestingly, this rise occurred despite an outflow of approximately $72.67 million from spot Bitcoin ETFs.
This strong movement of Bitcoin attracted the attention of market participants. It also revealed the effects of the US election process on crypto. Investors are curious about the attractiveness of the leading cryptocurrency as a safe haven. However, they are wondering how the post-election scenarios will take shape.
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 $ 2,402.50 and $ 2,631.72. The market value of the cryptocurrency is around 310.25 billion dollars. Spot Ethereum ETFs, on the other hand, did not show any noticeable movement in terms of net inflows.
This increase in ETH price shows that the demand for Ethereum, the second largest cryptocurrency in the market, continues. Analysts state that if Ethereum gains strong momentum at technical levels, a new upward wave may be at the door.
Solana and XRP Price Movements
Solana (SOL) is trading at $184, gaining 16% in value 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 crypto money maintains its strong stance in the market.
XRP has also gained 6% and is currently trading at $0.5312. 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.
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%. 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%.
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.
