The total market cap of the crypto market now stands at $2.707T. Since November 5, the day of the US presidential election, the market has surged by at least 22.15%. Notably, the Bitcoin market has seen a growth of 19.54%, and the Ethereum market a rise of 31.14%. The big question now is whether this post-election momentum can take the prices of top cryptos to new heights.
Crypto Market’s Post-Election Growth
On November 5, the crypto market opened with a total market cap of $2.216T. By the close of the day, it grew by 2.12%. On November 6, it surged by 8.91%, pushing the price to a peak of $2.468T. Since then, it has climbed steadily. Yesterday, the market registered a gain of 4.37%.
Bitcoin and Ethereum: Post-Election Performance
Both of the top two cryptos have experienced growth during the post-election period. On the day of election, the BTC market opened at around $67,884.01. On November 6, the market witnessed an impressive growth of 8.95%, breaking past the previous all-time high level of $73,000+. Yesterday, it displayed a notable rise of 4.82%, crossing above the crucial level of $80,000.
On-chain data shows a rise in total BTC supply held by short-term holders – a trend historically seen during bullish periods.
On November 5, the Ethereum market opened at around $2,397.36. The next day, it increased by at least 12.35%. Since November 7, the market has reported a growth of 15.37%. However, in the last 14 hours, the ETH market has suffered a decline of 1.2%. Right now, the ETH price stands at $3,141.34 – slightly lower than yesterday’s closing price of $3,182.33.
Top Crypto Performers Post-Election
Among the top cryptos, Dogecoin has posted the highest seven-day growth of 88.2%. Cardano follows closely with a 73.6% increase. Solana has seen a growth of 28.6%. Lido Staked Ether has displayed a rise of 27.2%.
The market cap of all the cryptocurrencies, excluding Bitcoin and Ethereum, was around $584.705B on November 5. On November 6, the market cap grew at least 7.18% in a single day. Since November 5, the market cap has climbed by nearly 23.34%.
In conclusion, the crypto market’s latest rally is driven by renewed interest in major assets. As altcoins show strong gains, the market may be gearing up for further growth.
Earn more CFN tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://cryptoforum.news0
CFN Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed