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A New Era For Crypto
Trump Wins, Bitcoin Soars & Altcoins Leading The Rally
A New Era For Crypto - Trump Wins, Bitcoin Soars
The Altcoins Leading The Latest Crypto Rally
Political Meme Coins Surge During US Election Night
And more…
Market Data Prices as of 5:00am ET
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A NEW ERA FOR CRYPTO:
TRUMP WINS BITCOIN SOARS
Donald Trump has clinched victory in the US Presidential Election, with 277 electoral votes, thanks to key states like Pennsylvania, Michigan and Wisconsin.
In response to Trump's lead, Bitcoin and crypto markets have skyrocketed, reaching unprecedented heights.
Earlier yesterday, Bitcoin broke its all-time high, crossing $75,000 to reach $75,011, and later surged to an impressive $75,361.
Why is Trump’s win a bullish signal for Bitcoin?
During his campaign, Trump promoted several pro-crypto policies:
A Strategic Bitcoin Reserve where the US government won’t sell its seized Bitcoin.
Plans to replace SEC Chair Gary Gensler with a pro-crypto candidate.
Creation of a Crypto Advisory Council to establish clear regulations.
Support for US Bitcoin Mining operations to make the US a global leader.
With a Republican sweep of the Presidency, Senate, and House, Trump’s policies could drive a new era for crypto.
Regardless of political views, today marks a significant win for crypto investments.
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THE ALTCOINS LEADING THE RALLY
Amid election night drama, DOGE and SOL stood out with notable gains among leading cryptocurrencies as the crypto market surged.
DOGE shot up by over 25% to approach $0.22, holding at nearly 20% gains in the past 24 hours.
The future is gonna be fantastic
— Elon Musk (@elonmusk)
6:28 AM • Nov 6, 2024
Elon Musk, a prominent DOGE advocate and Trump supporter, proposed a Department of Government Efficiency (D.O.G.E), suggesting streamlined government spending and fiscal management could come under a Republican-led administration.
This concept helped fuel investor interest in DOGE.
Popular trader ‘unipcs,’ who turned bullish on DOGE and D.O.G.E after Elon Musk’s support earlier this year, conveyed to CoinDesk via X today that he expects continued upward momentum for these tokens, as well as bitcoin.
“There is going to be a media frenzy about Elon and how his aggressively backing Trump and the 'Department of Government Efficiency' narrative could have been a deciding factor for a Trump win, and that's going to end up being a key catalyst that fuels both Dogecoin and the D.O.G.E ETH memecoin much higher.”
Additionally, SOL surged around 20%, reaching $188.30, as speculation grew that a pro-crypto administration might favor the approval of a Solana ETF, potentially boosting Solana’s market position.
In July, Rennick Palley, founder of the Stratos crypto venture fund, explained that SOL may be “the next token likely to have an ETF,” supported by a belief among investors that tokens “won't be seen as securities by the Trump administration.”
Early in July, the Cboe submitted 19b-4 filings to the SEC to list possible spot Solana ETFs by VanEck and 21Shares, following initial filings from late June.
🚨 NASDAQ just secured approval for the $SOL ETF!
SEC no longer classifies $SOL as security, and BlackRock is already applying.
Solana bull run is about to ignite and many alts will skyrocket 1000x👇🧵
— 0xNobler (@CryptoNobler)
3:29 PM • Aug 28, 2024
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POLITICAL MEME COIN SURGE DURING
US ELECTION NIGHT
The cryptocurrency markets are known for their high volatility, but U.S. election day brings an extra level of excitement.
Political-themed meme coins are seeing dramatic trading volumes, with tokens tied to candidates and political parties making huge moves.
On the Republican side, the MAGA token has soared, gaining 33% in the past day, driven by speculation around Trump’s chances of winning.
Currently valued at $196 million, MAGA leads among political tokens. Additionally, the Department Of Government Efficiency coin, or DOGE, inspired by Elon Musk’s support for Trump, rallied by an impressive 91%, pushing its market cap past $77 million.
For the Democrats, the Kamala Horris (KAMA) token experienced a steep 86% drop in response to a decrease in Kamala Harris’s odds of success.
Meanwhile, a surprising development saw Jeo Boden (BODEN) gaining 11%, despite President Biden withdrawing from the race.
Election day impacts are not limited to meme coins; the larger market is also reacting. Bitcoin is expected to see gains of up to 3.5% on election night, with trading volumes reaching levels unseen in recent years.
Over 40 new Trump-related tokens have launched on Ethereum, and more than 1,000 have appeared on Solana in the last 24 hours.
Dogecoin is leading among major cryptos, jumping 31% to $0.21, while Bitcoin has surged by 8%, reaching new all-time highs.
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OTHER NEWS:
Bitcoin smashes through $73K as elections rock the markets. Is Trump's potential victory the only thing fueling this surge? 🚀
Japan's FSA is cooking up new "holding order" rules to protect investors. Could this be the blueprint for global crypto safety? 🛡️
Elizabeth Warren keeps her Senate seat with a landslide win over crypto lawyer John Deaton. What does this mean for crypto's regulatory future? ⚖️
Political meme coins go wild: MAGA up 33%, DOGE soars 91%, while KAMA crashes 86%. Why did BODEN buck the trend? 📈
Circle's CEO hints at a massive revolution in global payments. What are they planning? 💫
FOR THE FERTILE MIND…
You are what you read! Here is what we are reading right now…
Cryptosovereignty - Erik Cason
Liberty and Property - Ludwig Von Mises
The Conservative Case For Bitcoin - Mitchell Askew
Debt: The First 5000 Years - David Graeber
MEMES OF THE WEEK
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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