Bloomberg: Trump's election triggers speculation frenzy in the crypto market, DOGE rises about 50% in nearly 5 days
Recently, investors have been enthusiastic about the prospects of the cryptocurrency industry under US President-elect Trump's leadership, sparking a wave of speculation. A series of small cryptocurrencies outperformed Bitcoin, with Dogecoin (DOGE) rising about 50% in the past five days.
In addition, ADA rose more than 60% during this period due to Cardano founder Charles Hoskinson discussing plans to cooperate with Washington lawmakers on his podcast.
Meanwhile, Polygon (POL), Cosmos (ATOM), Solana (SOL), and Algorand (ALGO) all exceeded Bitcoin's approximately 7% increase within five days.
Caroline Bowler, CEO of digital asset exchange BTC Markets Pty said: "A rising tide lifts all boats; Bitcoin's rise has relatively quickly affected altcoins. The entire crypto industry is expected to be a net beneficiary of the Trump administration."(Bloomberg)
Earlier news confirmed that Charles Hoskinson plans to cooperate with the US government under Trump's leadership to help formulate cryptocurrency legislation. The goal is to create a clear regulatory framework for this industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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