As investors responded to expectations that Donald Trump would take the US presidential election, crypto markets saw a notable increase Tuesday night.
As Donald Trump's victory in the US presidential election became increasingly apparent on Tuesday night, crypto markets experienced a surge. Bitcoin's price quickly ascended in response to this news, reaching a new all-time high of approximately $75,000.
After peaking at $73,000 in March, Bitcoin had been trading below that level recently due to ongoing anxiety related to the election. This sharp increase highlights the significant impact that political events can have on crypto valuations, especially in the context of changing laws and regulations.
Throughout the summer, Trump and the Republican Party expressed their support for crypto with public endorsements, garnering strong backing from the industry. This support follows years of frustration among crypto creators and investors regarding the restrictive policies implemented by the Biden administration. Many believe that the regulatory landscape under the Democrats stifled innovation and hindered the growth of the industry.
As Trump and the Republicans signaled a more pro-crypto stance, industry participants rallied behind the campaign in anticipation of the incoming administration relaxing regulations and fostering a more favorable environment for crypto endeavors.
While Bitcoin surged, crypto proponents celebrated the news on social media platforms. With Democrat Gary Gensler at the helm, the Securities and Exchange Commission (SEC) is largely expected to face a shift in leadership soon. Gensler is a polarizing figure in the crypto space, with several executives accusing him of hindering growth through burdensome regulations. A potential change in the SEC leadership could herald a new era for the crypto industry, bringing forth regulations that nurture expansion and loosen the grip on digital assets. The prospect of Gensler's departure further fueled optimism among crypto enthusiasts.
In addition to the presidential race, pro-crypto Republican Bernie Moreno secured an Ohio Senate seat, defeating Democratic incumbent Sherrod Brown. The crypto industry poured tens of millions into Moreno's campaign due to his staunch support for digital assets. Brown, who previously served as the chairman of the powerful Senate Banking Committee, was known for his anti-crypto stance. His loss in this election serves as a clear indication of the shifting attitudes in American politics toward cryptocurrency.
With Moreno's victory, the crypto sector gains another ally in Congress who is likely to champion policies that uplift the industry and shield it from laws that would stifle its growth.
Furthermore, Polymarket, a crypto-based prediction market, seemed to get it right as Trump's chances of winning increased throughout the election night. The platform had consistently predicted a Republican victory in the weeks leading up to Election Day. Polymarket began the day with a 58% prediction for Trump, which soared to 90% as the results poured in.
Polymarket's prediction of the election outcome showcases the potential of blockchain-based forecasting markets. For many, it highlights how decentralized platforms can be utilized to monitor election trends and gauge public sentiment.
The above is the detailed content of Crypto Markets Surge on Election Night. For more information, please follow other related articles on the PHP Chinese website!

Ouyi OKX is the world's leading digital asset trading platform. 1) Its development history includes: it will be launched in 2017, the Chinese name "Ouyi" will be launched in 2021, and it will be renamed Ouyi OKX in 2022. 2) Core services include: trading services (coin, leverage, contracts, DEX, fiat currency trading) and financial services (Yubibao, DeFi mining, lending). 3) The platform's special functions include: market data services and risk control system. 4) Core advantages include: technical strength, security system, service support and market coverage.

APP software that can purchase mainstream coins includes: 1. Binance, the world's leading, large transaction volume and fast speed; 2. OKX, innovative products, low fees, high security; 3. Gate.io, a variety of assets and trading options, focusing on security; 4. Huobi (HTX), low fees, good user experience; 5. Coinbase, suitable for novices, high security; 6. Kraken, safe and compliant, providing a variety of services; 7. KuCoin, low fees, suitable for professional traders; 8. Gemini, emphasizes compliance, and provides custodial services; 9. Crypto.com, providing a variety of offers and services; 10. Bitstamp, an old exchange, strong liquidity,

Quantum Chain (Qtum) is an open source decentralized smart contract platform and value transmission protocol. 1. Technical features: BIP-compatible POS smart contract platform, combining the advantages of Bitcoin and Ethereum, introduces off-chain factors and enhances the flexibility of consensus mechanisms. 2. Design principle: realize on-chain and off-chain data interaction through main control contracts, be compatible with different blockchain technologies, flexible consensus mechanisms, and consider industry compliance. 3. Team and Development: An international team led by Shuai Chu, 80% of the quantum coins are used in the community, and 20% rewards the team and investors. Quantum chains are traded on Binance, Gate.io, OKX, Bithumb and Matcha exchanges.

Quantum chains can be traded on the following exchanges: 1. Binance: One of the world's largest exchanges, with large trading volume, rich currency and high security. 2. Sesame Open Door (Gate.io): a large exchange, providing a variety of digital currency transactions, with good trading depth. 3. Ouyi (OKX): operated by OK Group, with strong comprehensive strength, large transaction volume, and complete safety measures. 4. Bitget: Fast development, provides quantum chain transactions, and improves security. 5. Bithumb: operated in Japan, supports transactions of multiple mainstream virtual currencies, and is safe and reliable. 6. Matcha Exchange: a well-known exchange with a friendly interface and supports quantum chain trading. 7. Huobi: a large exchange that provides quantum chain trading,

Platforms that support Qtum trading are: 1. Binance, 2. OKX Ouyi, 3. Huobi, 4. Gate.io Sesame Open Door, 5. Siren, 6. Coinku, 7. Bit stamp, 8. Coinku, 9. Bybit, 10. Gemini, these platforms have their own characteristics and advantages.

The quantum chain (Qtum) transaction process includes three stages: preliminary preparation, purchase and sale. 1. Preparation: Select a compliant exchange, register an account, perform identity verification, and set up a wallet. 2. Purchase quantum chains: recharge funds, find trading pairs, place orders (market orders or limit orders), and confirm transactions. 3. Sell quantum chains: Enter the trading page, select the trading pair and order type (market order or limit order), confirm the transaction and withdraw cash.

Exchanges that support cross-chain transactions: 1. Binance, 2. Uniswap, 3. SushiSwap, 4. Curve Finance, 5. Thorchain, 6. 1inch Exchange, 7. DLN Trade, these platforms support multi-chain asset transactions through various technologies.

Suggestions for choosing a cryptocurrency exchange: 1. For liquidity requirements, priority is Binance, Gate.io or OKX, because of its order depth and strong volatility resistance. 2. Compliance and security, Coinbase, Kraken and Gemini have strict regulatory endorsement. 3. Innovative functions, KuCoin's soft staking and Bybit's derivative design are suitable for advanced users.

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Article

Hot Tools

mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),

SecLists
SecLists is the ultimate security tester's companion. It is a collection of various types of lists that are frequently used during security assessments, all in one place. SecLists helps make security testing more efficient and productive by conveniently providing all the lists a security tester might need. List types include usernames, passwords, URLs, fuzzing payloads, sensitive data patterns, web shells, and more. The tester can simply pull this repository onto a new test machine and he will have access to every type of list he needs.

VSCode Windows 64-bit Download
A free and powerful IDE editor launched by Microsoft

Dreamweaver CS6
Visual web development tools

MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.