The largest digital asset has gained for the fifth consecutive day, setting a new ATH at $99,655 before slightly retreating to around $98,300 at the current time.
The crypto market has increased by about $1 trillion since Trump's victory in the November 5 election.
Trump's transition team has begun discussions on whether to create a new position in the White House focused on digital asset policy.
Supporters of Bitcoin's role as a store of value are hoping for this asset to reach $100,000, while others criticize its utility and connection to crime.
BTC Price Chart – 4 Hours | Source: TradingView
The Altcoin market continues to explode yesterday.
Leading the pack is Stellar (XLM) with an impressive growth of 54%. Over a 7-day period, XLM has surged to over 200%.
The rally comes as Grayscale Investments LLC, Grayscale Stellar Lumens Trust (XLM), has filed a 10-K for the fiscal year ending September 30, 2024.
The filing details the fund's purpose of holding Stellar Lumens (XLM) and operates as a statutory trust under Delaware law. The trust periodically issues shares to accredited investors in exchange for XLM deposits.
The latest developments in the United States include the resignation of SEC Chairman Gary Gensler on January 20, when Trump is expected to take office, which has also helped boost the market.
Hedera (HBAR), Cardano (ADA), and Algorand (ALGO) are also notable projects with increases over 30% in the past 24 hours.
Internet Computer (ICP), Avalanche (AVAX), VeChain (VET), Cosmos (ATOM)… all surged over 20%.
Many other major projects including XRP (XRP), EOS (EOS), Polkadot (DOT), Kaia (KAIA), Polygon (MATIC), Arweave (AR), MultiversX (EGLD), Decentraland (MANA), Chainlink (LINK), Axie Infinity (AXS), Injective (INJ)… recorded profits above 10%.
Source: Coin360
Ethereum (ETH) is trying to hold its price above the $3,300 mark after a strong recovery the previous day.
Currently, the second-largest market cap asset is facing resistance at $3,400 and is trading around $3,325.
ETH Price Chart – 1 Day | Source: TradingView
#MarketDownturn $HBAR $ADA $ICP