Increased by 4.79% including weekends... New all-time high
Altcoins also surged... ADA regained the 10th position in market cap
);)
rose about 4.79% compared to the previous day due to the sharp influx of buy orders on the 10th and 11th. The total market capitalization of reached $1.59 trillion (about 1,398.5825 trillion won) as of 9 a.m. on the 11th.
The main reason for the sharp rise in price is attributed to the election of former President Donald Trump.
President-elect Trump had emphasized the connection with since the early stages of the presidential election campaign, announcing active support for . As a result, was regarded as a 'Trump-related stock', and the price of has surged about 16% since the election of former President Trump.
Along with the surge in , many altcoins also saw a sharp rise. This is because President-elect Trump promised to dismiss Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), as part of his presidential election pledge.
Chairman Gensler had arbitrarily classified many altcoins, including , as securities, causing a sharp drop in the prices of these altcoins. If Gensler is dismissed, the interpretation is that these altcoins will not be classified as securities.
Based on this, surged about 32% over the weekend and regained the 10th position in the cryptocurrency market capitalization.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
