• Dapps: 16.23K
  • Blockchains: 78
  • Active users: 66.47M
  • 30d volume: $303.26B
  • 30d transactions: $879.24M

Bitcoin Hits Record High Post-Trump Victory

user avatar

by

2 hours ago

Bitcoin reached a historic peak following Donald Trump's re-election, also spurring records in the crypto ETF market.

Impact of Trump's Victory on Crypto Markets

Trump's victory served as a major catalyst for the rise in cryptocurrencies. Sylvia Jablonski, CEO of Defiance ETFs, indicated that the Trump administration's stance on crypto favors risk assets and supports the growth of digital assets.

The themes around the Trump trade for crypto are deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on parts of government like financial institutions and the Fed — or at least an alternative for decentralized currency — and overall support of risk assets and the growth of crypto ... is really what’s making it grow.Sylvia Jablonski

Record IBIT Trading Volume

BlackRock’s iShares Bitcoin Trust (IBIT) set a trading volume record of $4.1 billion, surpassing well-known stocks like Berkshire Hathaway and Netflix. Eric Balchunas, a Bloomberg ETF analyst, noted that this was the biggest volume day for IBIT, marking a 10% increase in value.

Prospects for New Crypto ETFs

The surge in Bitcoin ETF trading volumes indicates increasing institutional interest. Analysts believe Trump's victory could lead to a wave of new crypto ETFs. 2024 has seen a growth in regulatory filings for ETFs holding altcoins like Solana, XRP, and Litecoin.

The impact of Trump's re-election on the cryptocurrency market underscores the potential for further growth and development in the industry.

0

Share

Other news

Eimantas Barauskas on Monitok: The Hybrid Exchange Transforming the Market

Eimantas Barauskas discusses Monitok's key features, achievements, and market position.

user avatar

12 minutes ago

COTI Coin forges important partnerships: a new era of growth

COTI Coin announced significant partnerships with leading protocols, potentially driving cryptocurrency growth.

user avatar

12 minutes ago

Grass Reaches Record Highs Following Successful Airdrop

Grass cryptocurrency has soared by 2405% post-airdrop, capturing significant market attention.

user avatar

12 minutes ago

OpenAI Triumphs in Copyright Lawsuit

OpenAI successfully defended against copyright infringement claims by news outlets in court.

user avatar

12 minutes ago

Notcoin: Current Decline and Growth Potential

Notcoin's decline amid crypto industry trends. Potential comeback - technical analysis.

user avatar

13 minutes ago

Jupiter (JUP) Price Forecast: Growth Potential Until 2030

Discover the price forecasts of the Jupiter token for 2024-2030 and its potential in DeFi on the Solana blockchain.

user avatar

13 minutes ago

dapp expert logo
© 2020-2024. DappExpert. All rights reserved.
© 2020-2024. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.