The cryptocurrency market experienced a notable uptick as Donald Trump appeared poised to return to the White House. Bitcoin hit a new all-time high, while Solana surpassed Binance Coin as the fourth-largest cryptocurrency. The results of the US presidential elections, with Trump gaining a substantial lead, caused bitcoin to skyrocket from $69,000 to $75,358.
Over-leveraged short traders were harmed, as the total value of liquidations shot up to over $500 million. Bitcoin’s market cap is now above $1.460 trillion, and its dominance over the alts has maintained its position at just shy of 57%. Alternative coins were calm for a few days but have since changed, with Solana being among the top performers from the larger caps, having soared to $185 and surpassing BNB as the fourth-largest digital asset.
Dogecoin is the leader in terms of daily gains from this cohort of assets, possibly due to Elon Musk’s affiliation with Trump. The cumulative market cap of all crypto assets has added more than $200 billion since yesterday and is up to $2.570 trillion on CG.
