The leading cryptocurrency has reached a new all-time high near $75,000 as Donald Trump was confirmed as the winner of the U.S. presidential election.
Trump was elected as the 47th president of the United States, marking a remarkable political comeback for the former president, who previously refused to accept defeat, incited an insurrection at the U.S. Capitol, faced felony charges, and survived two assassination attempts during his campaign before returning to the White House.
Running as the Republican candidate, Trump narrowly defeated Vice President Kamala Harris in a tight election, securing 71 million votes (51%) compared to Harris’s 66 million votes (47.5%), according to data from The Associated Press (AP).
Bitcoin surged by more than 10% on Tuesday night (U.S. Eastern time), breaking past its previous high of $73,700 as preliminary election results signaled Trump’s victory. Amid this bullish momentum, Bitcoin reached an all-time high of $75,361 in early Wednesday trading.
Broader Cryptocurrency Market Rises as Bitcoin and Major Assets Hit Yearly Highs
Solana (SOL) was among the top performers, rising nearly 15% in the past 24 hours. SOL reached a high of $187.93 early Wednesday, marking a new multi-year high, though still below its all-time record of $260 set in November 2021.
Dogecoin (DOGE) also rose, gaining almost 20% over the period. While it didn’t reach yearly highs, DOGE climbed to a bullish $0.21, a level last seen in March, during a market upswing.
Uniswap (UNI) saw an even stronger daily gain, up just over 30% to $9. Other tokens, including Avalanche (AVAX), Chainlink (LINK), Sui (SUI), Aave (AAVE), Pepe (PEPE), and Dogwifhat (WIF), also posted significant gains.
Ethereum (ETH), , the second-largest cryptocurrency by market capitalization, rose to $2,640, with a nearly 9% increase over the last 24 hours and an 11% year-on-year gain.
