According to ChainCatcher and reported by Bloomberg, recent investors are enthusiastic about the prospects of the cryptocurrency industry under President-elect Trump's leadership, triggering a wave of speculation, with a number of small cryptocurrencies outperforming Bitcoin, including Dogecoin (DOGE), which has risen by about 50% in the past five days.
In addition, ADA has risen by more than 60% during this period, driven by discussions from Cardano founder Charles Hoskinson about plans to collaborate with Washington lawmakers on a podcast. Meanwhile, Polygon (POL), Cosmos (ATOM), Solana (SOL), and Algorand (ALGO) have all surpassed Bitcoin's approximately 7% increase over the past five days.
BTC Markets Pty CEO Caroline Bowler said: "As the tide rises, the rapid increase in Bitcoin has relatively quickly affected altcoins. The entire cryptocurrency industry is expected to be a net beneficiary of the Trump administration."
