The U.S. elections have brought significant changes to the crypto industry. Donald Trump's victory, along with the election of pro-candidate candidates, boosts Bitcoin's price and spurs interest in digital assets.
BTC and Crypto Market Rise After Elections
This week, Donald Trump's victory in the U.S. elections was seen as a positive signal for the crypto market. BTC reached a new all-time high, and the election of 242 pro-crypto candidates to congress and 14 senators has fueled the positive sentiment towards digital assets.
Regulatory Expectations and Market Speculations
In light of the election of pro-crypto candidates, expectations are rising about the dismissal of existing SEC lawsuits against crypto companies. There are also discussions about the potential resignation of SEC Chair Gary Gensler under the Trump administration.
Ripple's Developments and Other Changes
XRP's price rose by 14% during the week thanks to Trump's support. Ripple announced plans to launch a Dirham-backed stablecoin in the UAE. Additionally, Dogecoin saw nearly a 50% increase following Elon Musk's role in Trump's cabinet, strengthening investor confidence.
The U.S. elections significantly impacted the crypto market, sparking a surge in Bitcoin and other cryptocurrencies. Investors and analysts continue to monitor these events to understand future regulatory possibilities and market dynamics.
