Market Cap of All Cryptos Rises by $1Trn since U.S Election
Since the U.S. presidential election, the crypto market capitalisation has increased by more than $1 trillion, a review of trading data showed. The market cap of all cryptos was hovering around $2.3 trillion before the election and now settles near $3.4 trillion in days.
The cryptocurrency market is trading positively on Monday despite the inability of Bitcoin to hit the $100,000 jackpot. The Orange coin is still doing well at $98,500 as struggle to breach its resistance level increased.
According to information from CoinMarketCap.com, the global crypto market cap rose to $3.38 trillion, a 2.02% increase over the last day. The total crypto market volume over the last 24 hours has also reached $205.5 billion, which makes a 3.24% increase.
The total volume in DeFi traded on the exchange settled at $15.35 billion, accounting for 7.47% of the total crypto market 24-hour volume. In addition, the volume of all stable coins placed was $184.38 billion, which is 89.72% of the total crypto market 24-hour volume.
Most cryptocurrency are trading in the green during early trading hours on Monday. Ethereum has jumped 2.3% to $3,426, and Dogecoin—a so-called meme token that Trump ally Elon Musk has touted in the past—was up 1.8% to just over 43 cents.
Since Trump’s victory over Kamala Harris on November 5, the digital asset space has added a whopping $1 trillion to its valuation. Most of that has trickled into Bitcoin, which has gained 42% for the time span.
Trading data showed that the second largest crypto asset, Ethereum, has been trading at its highest levels since late July, hovering around $3,470.
However, Cardano (ADA) is showing weakness today, trading at $1.051, down 1.2% over the last 24 hours. Reduced trading volume and several onchain signals suggest that ADA could slip lower soon, some crypto analysts said.
Cardano-ADA price has been up more than 225% since Nov. 5, when Americans went to the polls in an election that saw Republican Donald Trump emerge victorious. #Market Cap of All Cryptos Increases by $1Trn since U.S Election Naira Plunges on Suboptimal FX Intervention
