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 complete market cap to $1.735 trillion, that means the main crypto token now formally has a better market cap than silver, which sits at $1.711 trillion.
Over the past week, the market has accomplished extremely nicely. Bitcoin has grown a complete of 26.85%, and altcoins are following swimsuit. Ethereum (ETH) and Solana (SOL) have each spiked over 30% within the interval as we enter a bull run.
This has led whales to micro-cap crypto tokens, whose excessive volatility allows them to expertise large surges in worth with market actions. Chief amongst these are Pepe Unchained, Crypto All-Stars, and Flockerz, three presales trying to launch within the bull run.
US Election Outcomes Propel the Market to New Heights
The most important 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 substitute 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 Nashville on July twenty seventh. The Trump presidency additionally offers extra religion for sometimes tradFi gamers like BlackRock to interact extra with Bitcoin ETFs, pouring extra funds into the area. Within the days after the election, Bitcoin ETFs noticed among the highest buying and selling volumes ever.
All of this has contributed to an enormous surge in day by day buying and selling quantity. At this time, Bitcoin’s day by day buying and selling quantity sits at $153.64 billion – a 92.52% enhance since yesterday. This exhibits 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 value actions. Because the election, the area has nearly doubled in market cap, going from round $55 billion to an enormous $105 billion.
The most important 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 partly because of the 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 selections.
This has led many group members, together with Jeremyybtc, an X (Twitter) professional with over 176,000 followers to take a position Dogecoin might attain $1 this cycle.
With most prime 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 Fireplace – Flockerz, Pepe Unchained, and Crypto All-Stars Appeal to Whale Consideration
One of many greatest meme coin presales of the yr – Pepe Unchained (PEPU) – had a whale drop $35,000 into the presale yesterday.
The venture 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 quicker 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 right into a thriving ecosystem.
99Bitcoins, a YouTube channel with over 700,000 subscribers not too long ago highlighted the crypto token, calling it the “subsequent Pepe” and anticipating large returns.
Flockerz (FLOCK), alternatively, is a brand new presale creating the world’s first vote-to-earn meme coin. It provides among the highest staking rewards within the area, with an 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 permit customers to stake all of their meme cash on one platform, with scaling rewards based mostly on how a lot STARS the staker holds.
With the meme coin market at its hottest, any considered one of these has a strong likelihood at going 10x on launch.