The recent increase in enthusiasm for cryptocurrencies after the election has pushed the price of Bitcoin above $100,000. This euphoria led to even bigger gains in other top coins, pushing the total market value of cryptocurrencies to $3.7 trillion. XRP and TRON recorded the biggest gains last week. Each rose about 60%, with Avalanche rising more than 24%.
It's been a huge week for Bitcoin and other cryptocurrencies, with growing enthusiasm adding to the industry's post-election euphoria.
The world's largest currency soared above the key benchmark of $100,000 on Wednesday night and continued its gains into Thursday, nearing $104,000 before settling around $101,000 as of Thursday afternoon. . These gains are on top of a 2% rise the previous day and a 6% rise last week.
Many other major crypto tokens saw even bigger gains last week.
The biggest gains over the past seven days were in XRP and TRON, each up about 60%, with Avalanche also up significantly by more than 24%.
Cardano and Shiba Inu also recorded double-digit increases, increasing by 21% and 22%, respectively.
These massive gains have swelled the total cryptocurrency market to $3.7 trillion and are on track to reach a whopping $4 trillion as the industry basks in the prospect of deregulation under President-elect Donald Trump. trying to reach.
Trump, who has been a vocal supporter of the industry during his campaign, has already made several pro-crypto moves, including nominating crypto supporter Paul Atkins to head the Securities and Exchange Commission. There is.
If approved, Atkins will replace Gary Gensler. The current SEC chief has been an opponent of unfettered crypto markets during his tenure, alleging securities law violations among the sector's largest companies and filing lawsuits to rein them in.
According to CoinMarketCap data, these are the top 10 cryptocurrencies by market capitalization.
1. Bitcoin
Bitcoin reached six digits for the first time this week. Cesc Maymo/Getty Images
Market capitalization: $1.97 trillion
7 days gain: 4.80%
2. Ethereum
Bitcoin and Ethereum NurPhoto / Getty Images
Market capitalization: $463.47 billion
7 days profit: 7.66%
3.XRP
The XRP cryptocurrency is partnered with Ripple Labs. Jack Taylor/Getty Images
Market capitalization: $134.5 billion
7-day increase: 59.88%
4. Solana
Solana is one of the top altcoins, a group of cryptocurrencies that are smaller than top coins like Bitcoin and Ethereum. iStock;Insider
Market capitalization: $113.59 billion
7 days profit: 0.82%
5.BNB
BNB is a token associated with Binance, the world's largest cryptocurrency exchange. null photo
Market capitalization: $104.16 billion
7 days profit: 9.93%
6. Dogecoin
Dogecoin's most famous backer is Elon Musk, whose posts on X have caused the meme coin to soar in the past. Idreez Abbas/SOPA Images/LightRocket (via Getty Images)
Market capitalization: $64.26 billion
7 days profit: 9.58%
7. Cardano
Cardano and USD DIAMOND visual
Market capitalization: $42.33 billion
7 days profit: 20.53%
8.Tron
Justin Sun, creator of Tron Reuters
Market capitalization: $27.96 billion
7-day increase: 59.79%
9. Avalanche
Avalanche Coin Jakub Porzycki/NurPhoto via Getty Images
Market capitalization: $21.55 billion
7 days profit: 24.08%
10. Shiba Inu
The name Shiba Inu Token comes from the dog breed with the same name Jakub Porzycki/Getty Images
Market capitalization: $18.22 billion
7 days profit: 22.21%
