⚡️UPDATE: $ETH surges over 7% outperforming $BTC and $SOL ga | Laraxen on Binance Square

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⚡️UPDATE: $ETH surges over 7% outperforming $BTC and $SOL gains in the past 24 hours.

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ETH

2,822.2

+7.47%

BTC

74,896.71

+1.17%

SOL

187.85

+1.52%

843

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2. Polymarket Takes Victory Lap While opinion polls canvassing the opinions of American voters indicated that this race was a coin toss, crypto-powered prediction markets told a different story. As polling places began to open at 9 a.m. ET on Tuesday, Polymarket showed a 61.7% chance that Trump would secure a second term. Those odds improved dramatically as results started to trickle in. And as midnight approached, he was given a 95% chance of hitting that magical number of 270 Electoral College votes. A staggering $3.6 billion was wagered on the presidential election, and countless millions more on the outcomes in battleground states. However, those who backed Trump may face a little wait before they get a payout, as the market will only be resolved when the AP news agency, Fox, and NBC all call the result. Polymarket founder Shayne Coplan is clearly vindicated by how his platform performed. It’s a sign that bettors putting their money where their mouths are offer a more accurate picture of future events than statisticians with clipboards.

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1. Bitcoin Hits a New All-Time High In the early hours of Wednesday morning, we learned one thing: BTC hadn’t priced in the impact of a Trump victory. The world’s biggest cryptocurrency hit a fresh all-time high of $75,361.09 as traders digested the news — eclipsing the previous record of $73,750, set back in March. There was also a sea of green among altcoins, with the total market capitalization of all cryptocurrencies racing toward $2.5 trillion for the first time ever. Throughout his campaign, Trump had promised that he would be America’s first pro-crypto president and unveiled a slew of policies designed to court Bitcoiners. In addition to vowing to sack SEC chair Gary Gensler on “day one,” the Republican had also called for the Treasury to treat crypto seized from criminals as a strategic reserve. Trump also declared that he wants all remaining Bitcoin mined in the US and hinted he wants greater control over interest rates, setting the stage for a battle with the traditionally independent Federal Reserve. The “red wave” seen on election night will likely make it easier for the president-elect to achieve some of these ambitions, but fears linger that his economic plan could hit BTC in the long run.

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Trump Wins: 5 Key Crypto Moments from Election Night Donald Trump will be America's next president — but this isn't the only dramatic development sending shockwaves through crypto. Key takeaways: Bitcoin rally shows Trump’s win wasn’t priced in. Industry groups successfully oust anti-crypto candidates. Prediction markets take a victory lap after proving polls wrong. Bloodbath for meme coins across the political spectrum. Countless polls had predicted that the US presidential race was on a knife edge, with a razor-thin margin separating Donald Trump and Kamala Harris. However, as the results began to pour in, it quickly became clear that Trump was on course to retake the Oval Office, with Republicans also seizing control of the Senate. This resounding win is fueling speculation that Bitcoin’s bull run may be about to enter a parabolic phase. Here are five key crypto moments from election night. 1. Bitcoin Hits a New All-Time High 2. Polymarket Takes Victory Lap 3. Anti-Crypto Politicians Ousted 4. A Shifting Picture Nationwide

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Elon Musk: Trump going on lengthy podcasts made a big difference. “I think it made a big difference that President Trump and soon-to-be Vice President Vance went on lengthy podcasts. I think this really makes a difference because people look at Joe Rogan's podcast, which is great, and Lex Fridman's and the All-In Podcast and to a reasonably-minded, smart person who's not hardcore one way or the other, they just listen to someone talk for a few hours and that's how they decide whether you're a good person, whether they like you. This is why I posted on X, nothing would do more damage to Kamala's campaign than going on Joe Rogan because she'd run out of non sequiturs after about 45 minutes. Hours two and three would be a complete melted puddle of nonsense. It would just be absolute game over. That's why she didn't go on. But, on the other hand, Trump, he's there, there's no talking points. He's just being a normal person, having a conversation and doing three hours of Rogan, no problem.” Interview with Tucker Carlson, November 5, 2024

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Bitcoin Miner Hut 8 Leverages New ASICs to Enhance Mining Efficiency Hut 8 is set to enhance its Bitcoin mining efficiency by acquiring 31,145 BITMAIN Antminer S21+ ASIC machines, aiming for a 66% increase in self-mining hashrate and improved energy efficiency starting in Q1 2025. Hut 8 Corp., a major Bitcoin mining operator in North America, announced an upgrade to its mining fleet on November 6 by acquiring 31,145 BITMAIN Antminer S21+ ASIC machines. This acquisition, set for delivery in early Q1 2025, is part of Hut 8’s broader push to enhance mining efficiency and expand its self-mining capacity. Hut 8 Purchases 31,145 BITMAIN Antminers to Expand Bitcoin Mining Efficiency Under the purchase agreement, Hut 8 will acquire the miners at $15 per terahash, a move expected to significantly enhance its self-mining hashrate by approximately 3.7 exahashes per second (EH/s). With this upgrade, Hut 8 aims to optimize its mining efficiency across 111 megawatts (MW) of self-mining capacity. Once operational, the new equipment is set to boost Hut 8’s hashrate by 3.7 exahashes per second (EH/s), bringing its total self-mining hashrate to 9.3 EH/s—a 66% increase. The upgrade will also reduce the fleet’s energy consumption from 31.7 to 19.9 joules per terahash (J/TH), improving efficiency by approximately 37%.

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