Bitcoin reached a brand new ATH of $89,500 right now because the crypto market continues to develop following Donald Trump’s US election.
This pushed its whole market cap to $1.735 trillion, that means the main cryptocurrency now formally has a better market cap than silver, which sits at $1.711 trillion.
During the last week, the market has completed extremely properly, with Bitcoin rising a complete of 26.85%, altcoins are following go well with. Ethereum (ETH) and Solana (SOL) have each spiked over 30% within the time interval as we enter a bull run.
This has led whales to micro-cap tokens, whose excessive volatility permits them to expertise huge surges in worth with market actions. Chief amongst these are Pepe Unchained, Crypto All-Stars, and Flockerz, three presales seeking to launch within the bull run.
US Election Outcomes Propel the Market to New Heights
The largest contributing issue to the market rally is undoubtedly the US election. Donald Trump had firmly positioned himself because the pro-crypto candidate within the election, promising to make the US the “crypto capital of the planet.”
Amongst his guarantees is the alternative of the chair of the SEC (Securities and Alternate Fee), Gary Gensler. The elimination of Gensler, who led efforts to extend oversight on the crypto market throughout Joe Biden’s presidency indicators extra regulatory readability and leeway for the crypto sector.
Trump has additionally spoken on the Bitcoin convention in Nashvillle on July twenty seventh. The Trump presidency additionally offers extra religion for usually tradFi gamers like BlackRock to have interaction extra with Bitcoin ETFs, pouring extra funds into the area. Within the days after the election, Bitcoin ETFs noticed a number of the highest buying and selling volumes ever.
All of this has contributed to an enormous surge in every day buying and selling quantity. Right this moment, Bitcoin’s every day buying and selling quantity sits at $153.64 billion – a 92.52% improve since yesterday. This reveals investor curiosity nonetheless hasn’t dried up with Bitcoin posting a brand new all-time excessive right now.
Meme Coin House Soars to $105 Billion Market Cap
With Bitcoin on the rise many investor’s consideration is turned to the meme coin sector, well-known for its daring worth actions. Because the election, the area has nearly doubled in market cap, going from round $55 billion to an enormous $105 billion.
The largest participant within the area, Elon Musk-endorsed Dogecoin (DOGE) has grown 36.53% over the day, and has greater than doubled in worth over the week, rising 132.82% as much as $0.4.
That is partially as a result of truth Elon Musk is intently affiliated to Donald Trump, with over $100 million in donations to his identify, and Musk being anticipated to affect the president’s staffing choices.
This has led to many neighborhood members, together with Jeremyybtc, an X (Twitter) guru with over 176,000 followers to invest Dogecoin might attain $1 this cycle.
doge would be the largest runner of this bull run
elon musk publicly comes out because the co founding father of dogecoin
trump and elon each talked about integrating dogecoin as a giant a part of america’s financial system
1 $doge = $1 pic.twitter.com/7wATJmCh8V
— Jeremy (@Jeremyybtc) November 10, 2024
With most high meme cash up 50% or extra over the week, whales are new tokens with untapped potential to chase 10x to 100x returns.
Meme Coin ICOs are on Hearth – Flockerz, Pepe Unchained, and Crypto All-Stars Entice Whale Consideration
One of many largest meme coin presales of the yr – Pepe Unchained (PEPU) – had a whale drop $35,000 into the presale yesterday.
The undertaking has raised over $27,2 million over the course of its presale on the again of its high-quality aesthetic and layer 2 utility. The PEPU chain goals to revolutionize ETH meme cash by offering 100x sooner transactions with minimal gasoline charges. With the presale exceeding the developer’s expectations, they’ve unveiled a grant program to make sure the token launches to a thriving ecosystem.
99Bitcoins, a YouTube channel with over 700,000 subscribers just lately highlighted the token, calling it the “subsequent Pepe” and anticipating huge returns.
Flockerz (FLOCK), however, is a brand new presale creating the world’s first vote-to-earn meme coin. It provides a number of the highest staking rewards within the area, with a 1146% APY. This implies holders can 11x their token holdings over a yr, with every of them contributing to their voting energy within the FlockTopia DAO.
Lastly, Crypto All-Stars (STARS) is a utility-focused meme coin bringing cooperation to meme coin staking with its MemeVault. The MemeVault will enable customers to stake all of their meme cash on one platform, with scaling rewards primarily based on how a lot STARS the staker holds.
With the meme coin market at its hottest, any considered one of these has a stable likelihood at going 10x on launch.