Home Tags Posts tagged with "uselection"
Tag:

uselection

Story

Trump Wins Second Term: What It Means for Crypto

by Ouess
written by Ouess

In a significant election outcome, Donald Trump has won a second term as U.S. President. Buoyed by donations and votes from the digital asset sector, Trump’s campaign gained strong support from the crypto community.

He now moves into office with just three more electoral votes from traditionally red states, defeating Kamala Harris, the Democratic candidate.

Trump’s Outreach to the Crypto Industry

While crypto wasn’t a major campaign issue, Trump actively courted the digital asset sector. He spoke at major crypto events, visited a crypto bar, and even pledged to replace Securities and Exchange Commission (SEC) Chair Gary Gensler, signaling a potential regulatory shift. By contrast, Harris shared only general statements about supporting innovation without delving deeply into crypto policy.

Trump’s Path to Victory and Republican Senate Control

Key projections from networks like ABC, CBS, and NBC show Trump winning Pennsylvania’s critical 19 electoral votes and Alaska’s three, securing the presidency. Trump also leads the popular vote—a rare feat for a Republican candidate. Alongside Trump’s win, Republicans have taken control of the Senate, flipping crucial seats in Ohio and West Virginia.

Pro-Crypto Promises for Trump’s Upcoming Term

During his first term, Trump’s administration proposed crypto-friendly measures like a special-purpose broker-dealer license. This time, Trump has pledged further pro-crypto policies, including promises to “make Bitcoin in the USA.” His campaign outreach to the crypto community also included pledges to free Silk Road developer Ross Ulbricht, a figure with strong support in certain crypto circles.

Authoritarian Themes and Economic Policies

Trump’s campaign also leaned into themes of “America First,” with promises of mass deportations and tariffs on imports. These economic policies signal a strong shift in U.S. relations with global trading partners, potentially impacting the broader market and crypto space.

In sum, Trump’s second term could bring new dynamics to U.S. crypto regulation, with the potential for both expanded opportunities and significant shifts in policy direction.

0 comment
0 FacebookTwitterPinterestEmail
Story

Bitcoin Surges Above $70K Amid Election Volatility

by Ouess
written by Ouess

Bitcoin has surged past the $70,000 mark, reaching $70,017 despite a recent dip to $66,835. This increase comes amid heightened market volatility as the U.S. election draws near.

With experts forecasting sharp price fluctuations, Bitcoin’s climb may signal renewed confidence among traders.

Cryptocurrency Market Sees Gains

Bitcoin isn’t the only asset on the rise. DOGE spiked by 13%, while SHIB gained 8% in the last 24 hours. Meanwhile, other coins, like Ethereum, have been more stable. As traders brace for election results, many are reentering the market following a sell-off fueled by volatility concerns.

How Election Tensions Are Shaping the Market

The looming election results have intensified market volatility, leaving some traders facing liquidation risks on low-leverage positions. Former President Trump’s social media posts, urging voter turnout, are also seen as adding to the market’s current sentiment swings.

https://twitter.com/realDonaldTrump/status/1853809363149852915

Key takeaways:

  • Bitcoin’s price broke $70K, reflecting strong market optimism.
  • DOGE and SHIB saw notable gains, with traders actively responding to political events.
  • The election outcome could significantly impact cryptocurrency prices, as high volatility is expected in the days ahead.

As traders remain on high alert, the unfolding political landscape may continue to impact Bitcoin and other cryptocurrencies, signaling a period of potential gains and fluctuations.

0 comment
0 FacebookTwitterPinterestEmail
Story

Crypto Inflows Surge Amid Rising U.S. Election Tensions

by Ouess
written by Ouess

Crypto investment inflows reached $901 million last week, a step back from the prior week but part of a rising trend fueled by the upcoming U.S. elections.

As political tensions build, Bitcoin attracted nearly all inflows, pulling in $920 million, while short-Bitcoin positions saw minor outflows. This shift suggests strong investor confidence in Bitcoin’s future trajectory.

U.S. Political Climate Spurs Crypto Investment

According to CoinShares, the U.S. political landscape is helping sustain positive inflows into digital asset investment products. October has already become the fourth-largest month on record, with $27 billion in year-to-date crypto inflows—almost triple 2021’s previous high of $10.5 billion. As these numbers show, crypto investments are gaining traction amid increasing anticipation of political shifts in the U.S.

James Butterfill, a CoinShares researcher, links this growth directly to U.S. election dynamics, highlighting that recent polling boosts for Republicans appear to be driving investor optimism. “We believe current Bitcoin prices and flows are heavily influenced by U.S. politics, particularly linked to recent Republican polling gains,” states the CoinShares report.

Crypto Investment Inflows, Source: CoinShares

Election Polls Influence Investor Sentiment

Recent U.S. polling trends, especially in swing states, seem to be a key factor in rising crypto inflows. Data from Polymarket shows Republicans gaining strength in crucial states, leading investors to anticipate potential regulatory shifts favorable to digital assets. In prediction markets, Donald Trump currently leads against Kamala Harris, with Trump polling at 66.2% to Harris’s 33.7%.

Republicans vs. Democrats Balance of Power Gauge, Source: Polymarket

As Americans approach election day, crypto interest remains strong, with investors closely tracking political developments that may impact Bitcoin and other assets.

Bitcoin as a Hedge Against Uncertainty

This surge in Bitcoin investments illustrates how investors are viewing the cryptocurrency as a hedge against the economic uncertainty tied to election outcomes. If the political climate shifts, regulatory and tax policies could turn favorable for crypto markets, further amplifying inflows.

In the lead-up to the election, crypto investors are positioning Bitcoin as a stable asset amidst turbulent times. With political sentiment shaping the market, digital assets could see further gains in the weeks ahead.

0 comment
0 FacebookTwitterPinterestEmail
Story

How the U.S. Election Could Impact Bitcoin’s Price

by Ouess
written by Ouess

As the U.S. election approaches, crypto enthusiasts are speculating on how it could influence Bitcoin’s (BTC) price. According to a recent report by broker Bernstein, the election result could lead to very different outcomes for the world’s largest cryptocurrency.

Bitcoin Could Surge if Trump Wins

If Donald Trump secures victory in November, Bitcoin is predicted to hit new highs. Bernstein estimates BTC could skyrocket to $90,000 by the fourth quarter. Trump has been a vocal supporter of digital assets, consistently advocating for the U.S. to become the “crypto capital of the world.” His policies could potentially include a national Bitcoin stockpile, the appointment of a crypto-friendly SEC chairman, and increased focus on Bitcoin mining.

Kamala Harris Victory Could Lead to Bitcoin Decline

On the other hand, if Kamala Harris wins, Bitcoin may drop to as low as $30,000. The report suggests that Harris has not addressed crypto in her speeches, indicating a possible lack of focus on the industry. This could cause Bitcoin to test its lower support levels, possibly falling into the $30,000-$40,000 range.

Macro and Regulatory Headwinds

For the past three years, the crypto market has faced macroeconomic challenges and regulatory scrutiny. A Trump victory could introduce positive regulatory changes that might spur innovation and bring users back to blockchain-based financial products, Bernstein analysts noted.

0 comment
0 FacebookTwitterPinterestEmail
Memecoin

TRUMP Meme Token Surges to Over $1 Million: Unraveling the Speculative Trend

by Ouess
written by Ouess


Arkham’s data tracking reveals that a memecoin called MAGA TRUMP, initially valued at a few cents, has skyrocketed to over $2 and the holdings of Mr.Trump crypto wallet labeled with Donald Trump’s name have skyrocketed.

It’s important to note that the issuance of the TRUMP token is not directly associated with the former U.S. President; however, some individuals are treating these tokens as a speculative bet on Trump’s ongoing presidential campaign.

These tokens were initially distributed in August, with Trump’s wallet receiving $7,100 worth of TRUMP from the developers between August and October 2023. Sending tokens to the wallet of a well-known figure is a common marketing strategy among meme coin creators to attract attention and generate buying interest.

TRUMP USD chart Source : CoinmarketCap

Although the token prices remained relatively stable for months after issuance, recent successes in the primaries have revived Trump’s presidential prospects for the 2024 elections. Consequently, these speculative tokens experienced a surge, jumping from 19 cents in November to over $2 on Wednesday. The market capitalization of these tokens reached over $85 million on that day.

It’s worth noting that there are several other Trump-themed meme tokens on various blockchains, but only one subset has managed to build a significant community. Simultaneously, the value of Trump’s wallet has soared to $2.5 million, consisting of $750,000 each in ether (ETH) and wrapped ether (WETH), along with small amounts of various other tokens, most of which were likely sent to the wallet without solicitation.

0 comment
0 FacebookTwitterPinterestEmail
Story

Vivek Ramaswamy Halts Presidential Bid: Impact on Crypto Policy and Regulatory Clarity

by Ouess
written by Ouess

Vivek Ramaswamy, who had promised to streamline the Securities and Exchange Commission (SEC) and shape a clear digital assets policy if elected President, has decided to halt his campaign for Republican leadership following a fourth-place finish in Iowa.

Expressing gratitude to his supporters in his concession speech, Ramaswamy announced his endorsement of former President Donald Trump. He revealed plans to join Trump at a rally in New Hampshire to discuss their shared vision for the country’s future.

Ramaswamy’s crypto strategy, outlined during his campaign, focused on protecting software developers and unhosted digital wallets. He advocated for treating most cryptocurrencies as commodities and reducing the SEC’s influence in the crypto sector.

In an earlier interview with CoinDesk TV, Ramaswamy highlighted the need for regulatory clarity, emphasizing the importance of rescinding regulations that target legal activities in the crypto space. He expressed concerns about the regulatory state overreaching and interfering with legitimate practices.

During a Republican leadership debate in December, Ramaswamy emphasized the necessity for regulations to catch up with the rapidly evolving landscape of digital assets. He pointed out flaws in the current framework, citing examples like SBF’s actions with FTX.

Ramaswamy criticized SEC Chair Gary Gensler, stating that it was embarrassing that Gensler couldn’t confirm before Congress whether Ethereum is considered a regulated security. He viewed this uncertainty as another instance of the administrative state overreaching its boundaries.

Notably, Ramaswamy owns between $100,001 and $250,000 worth of bitcoin (BTC) in a Coinbase (COIN) account and holds between $15,001 and $50,000 in ether, according to a disclosure earlier this year.

0 comment
0 FacebookTwitterPinterestEmail

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy
Social Media Auto Publish Powered By : XYZScripts.com
Skip to content