【Market Overview】
With Trump's victory in the U.S. presidential election, the entire cryptocurrency market experienced a surge yesterday.
BTC once again broke its historical high, surpassing 76,000 this morning, while the altcoin market skyrocketed, with all altcoins generally rising by over 15%. The overall market capitalization of the cryptocurrency market also increased by 200 billion USD yesterday. Indeed, it was like a New Year celebration for the cryptocurrency market.
Currently, we can see that the FOMC meeting of the Federal Reserve will commence tomorrow morning. According to current estimates, a rate cut of 25 basis points seems to be a done deal, and these positive factors are continually stimulating the cryptocurrency market to reach new heights this week.
At the same time, the entire DeFi ecosystem, with Trump's rise to power, will likely unlock more strategies and policies in the future. For example, we saw UNI surge over 35% yesterday, AAVE close to 30%, and LDO up by 40%. Therefore, indeed, DeFi is the biggest beneficiary of this wave of policy changes.
The entire MEME sector is also not lagging behind, with DOGE rising 20% in a single day and NEIRO surging 60%. However, the meme coins in the Trump ecosystem experienced a widespread crash. After the news of Trump's victory broke, TRUMP peaked at 4.8, but as the news spread, TRUMP faced a significant drop and is now below 2. FIGHT also fell by 50% in a single day, while Harris's meme HARRIS dropped to zero. However, Musk's pinned hamster Punt more than doubled in a single day.
Overall, ETH in the staking sector also received favorable policy news with Trump's rise to power, leading to a significant surge, with tokens like EIGEN, PUFFER, and LDO experiencing gains of up to 40%.
