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Solana joins Uniswap as a top performer, gaining 12.7% as U.S. Presidential election results come in.
The latest price moves in bitcoin (BTC) and crypto markets in context for Nov. 6, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Stablecoin and crypto-market structure bills may now see faster progress, the report said.
MicroStrategy and Coinbase both added 12%, with bitcoin miners also gaining more than 10% in pre-market trading.
One of the biggest trends of 2023 among the leading layer-2 projects on Ethereum was the emergence of “blockchain in a box,” where the teams encouraged developers to clone their code to spin up new layer 2s. Now, it appears, one project
Bitcoin dominance approached 61% with Solana dominance also primed to touch record high.
“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,” one trader said.
Buoyed by donations and votes from a digital asset industry he aggressively courted, Trump won a second term to the White House in his third bid for the U.S.’s highest office.
An incoming crypto-friendly Trump administration could make allowing crypto ETFs in the U.S. easier, traders say, boosting SOL’s prices.
Having $169 million to spend on U.S. congressional elections can produce fast results in Washington, as the crypto sector’s campaign-finance blitz this year helped rid it of a powerful Democratic senator who stood in the way of legislation and also populated Congress