Donald J. Trump’s victory in the U.S. Presidential Election and the election of several pro-cryptocurrency lawmakers have contributed to the global crypto market surpassing $3 trillion for the first time since Russia’s invasion of Ukraine. The market value of cryptocurrencies reached a high of $3.2 trillion on November 14, according to CoinGecko.
The surge in value can be attributed to expectations of more favorable U.S. regulation, which could boost the entire cryptocurrency sector. Bitcoin’s market cap currently stands at $1.81 trillion, representing 57.86% of the crypto market dominance, followed by Ethereum, Tether, Solana, BNB, and Dogecoin.
