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US Presidential Election Results 2024 Highlights

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4 hours ago

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The U.S. presidential elections finally come to a close, with Republican Donald Trump ‘trumping’ over Democratic Kamala Harris. Recent voting results show that the Republican secured 286 electoral votes, whereas the Democratic presidential candidate secured only 224, pushing chances of the former U.S. president’s victory to take substantial weightage. With a total of only 270 electoral votes needed to bag victory, the Democratic party’s win remains alarmingly slim while Trump emerges as the talk of the town nationwide.

Kamala Harris Losses & Trump WinsKamala Harris Losses & Trump Wins

 

Kamala Harris Fumbles In US Presidential Elections 2024

As per election data from Stand With Crypto, Donald Trump currently stands strong in the presidential elections with a majority of the votes, i.e., 286 electoral votes. Other election data showed Kamala Harris stands right behind with 47.4% of the votes, i.e., 224 electoral votes. Meanwhile, Jill Stein and Robert Kennedy followed with 0.4% of votes each. This data, altogether, underscores that the Republican presidential candidate won the 2024 elections, whereas the Democratic presidential candidate lost.

Simultaneously, it’s noteworthy that this presidential election saw a substantial rise in support for pro-crypto candidates, aligning with the abovementioned results. In an X post by Thinking Crypto podcast founder Tony Edward on November 6, it was pointed out that anti-crypto candidates suffered an alarming loss in this election. Meanwhile, with his pro-crypto stance, the Republican presidential candidate appears to have stolen the spotlight.

However, Democratic Kamala Harris faced a significant setback with her diminished interest and policies surrounding crypto. Aligning with this, a recent CoinGape Media report shows that pro-crypto candidates are readying to dominate the U.S. Congress. A total of 242 pro-crypto candidates have been elected to the House of Representatives against 113 anti-crypto candidates. Also, 14 pro-crypto candidates are in the Senate as of now, while 9 anti-crypto lawmakers are also present in the Senate. Overall, it is clear that the latest U.S. presidential elections saw a substantial influence due to policies and standings on digital assets.

Further, in light of Trump resuming his role as the 47th president of the United States, the crypto horizon remains bullish. The Republican presidential candidate earlier promised to fire SEC Chairman Gary Gensler, given that he won, adding to pro-crypto support nationwide. Also, he gauged in on establishing a national Bitcoin fund and making the United States the “Bitcoin and cryptocurrency capital of the world,” which also aligns with the pro-crypto victory in this election.

What’s Happening In The Crypto Realm?

Meanwhile, with the nationwide masses getting a clear understanding of Kamala Harris’ loss, crypto participants are witnessing a paradigm shift in market sentiment. Notably, Bitcoin (BTC) touched a new ATH amid recent election developments. Further, even altcoins soared remarkably, as seen by the global market cap reaching $2.4 trillion. This bullish momentum primarily falls in line with the pro-crypto candidate’s recent win.

Simultaneously, a meme coin also emerged as a hot trend amid the elections. Notably, Elon Musk’s D.O.G.E. role under the Trump cabinet has garnered substantial optimism toward Dogecoin price. DOGE price surged nearly 13% intraday to reach $0.1902. Notably, the coin even topped the $0.2 level today, aligning with Trump’s win. Nevertheless, the Democratic presidential candidate has faced a severe setback in the U.S. 2024 elections.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu Burn Rate Rockets 3,700% Sparking Optimism, SHIB To Hit $2?

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1 hour ago

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November 6, 2024

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Amid a remarkably bullish market on Tuesday, the SHIB meme cryptocurrency once again nabbed substantial investor attention by displaying a whopping surge in its burn rate. Recent stats indicate that the Shiba Inu burn rate witnessed a remarkable 3674% uptick, projecting bullish market sentiments on the coin’s future price movements. SHIB price currently trades at the $0.000019 level, with traders and investors eyeing a potential $2 price target in light of recent broader events and a burn rate surge.

Shiba Inu Burn Rate Shoots 3,700% Reverberating Investor Bullishness

As per the latest data from the official tracker Shibburn, the Shiba Inu burn rate witnessed a 3674% upsurge on November 6, underscoring a massive blow to the Ethereum-based meme coin’s supply. According to the data, 53.31 million coins were burnt in the past 24 hours, causing a phenomenal surge in the burn rate. Intriguingly, the wallet address 0x2e2.. was noted to be responsible for the lion’s share in today’s massive burn surge. Per the data, this address burned 28.84 million tokens over the past day.

For context, the token burn mechanism aids in killing the meme coin’s excessive supply, which market watchers believe to be the true reason behind SHIB’s sluggish performance. The phenomenal blow to the supply, as mentioned above, ignited a torrent of optimism among Shiba Inu market participants, adhering to the law of supply and demand.

Meanwhile, recent community developments have further taken the broader market by storm. The coin’s lead developer, Shytoshi Kusama, earlier revealed a S.H.I.B proposal for the U.S. government aiming to turn the country into a crypto valley. The outlined proposal, with a budget plan of $1.3 to $2.35 billion, aims to promote blockchain developments nationwide, with the dog-themed meme coin primarily in focus. Overall, the burn surge, coupled with this recent advancement, has garnered significant optimism on the coin’s future price movements.

SHIB Price Blows Up 6%

At the time of reporting, SHIB price surged nearly 7% intraday and is now trading at $0.00001908. The token’s 24-hour low and peak were $0.00001758 and $0.00001972, respectively. Notably, even the crypto’s intraday trading volume upsurged nearly 200% to $1.16 billion.

Further, Coinglass data underscored a market uptrend for the meme coin today. SHIB futures OI surged nearly 25% to $51.14 million. Moreover, the derivatives volume rocketed roughly 137% to $384 million. Overall, these stats, coupled with the Shiba Inu burn rate surge mentioned above, have paved a bullish path for the coin’s future price movements.

In addition, Donald Trump’s recent victory has fueled a pro-crypto sentiment across the broader cryptocurrency market. In light of this event, a Shiba Inu price analysis showcases that the token could hit $2 amid boosted market sentiment.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC Touches $75K, Altcoins Up, DOGE Crosses $0.2

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8 hours ago

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November 6, 2024

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The cryptocurrency prices today set off bullish waves across the broader industry, taking a noteworthy upside trajectory amid the ongoing U.S. elections. Bitcoin (BTC) price touched the $75K level on Wednesday, whereas Ethereum (ETH), Solana (SOL), & XRP prices gained 6%-16% intraday. Notably, Dogecoin (DOGE) leads the meme coins sector with phenomenal gans, crossing the $0.2 price level recently. Further, the total crypto market volume over the past day noted an 8% surge in value to $2.45 trillion. Moreover, the total market volume witnessed a 51.42% increase in value to $126.04 billion.

Here’s a brief report on some of the top cryptocurrencies by market cap and their price run today, November 6.

Cryptocurrency Prices Today: BTC & Altcoins Soar Amid Ongoing US Elections

The ongoing U.S. presidential elections appear to have positively impacted the digital assets landscape. Notably, as the Republican Donald Trump’s winning odds continue to rise substantially, per recent Polymarket data, a pro-crypto wave appears to have impacted the cryptocurrency sector. While BTC price traded at $74K amid the election buzz, top altcoins gained considerably. Similarly, Dogecoin noted remarkable gains in light of Trump and Musk’s D.O.G.E saga amid the U.S. elections. So, let’s dig deeper into the crypto prices today.

Bitcoin Price Today

BTC price surged nearly 9% in the past 24 hours and is currently trading at $74,366. The coin’s intraday low and high were recorded as $68,147.62 and $75,011.06, respectively. BTC’s market cap stood at $1.47 trillion today. Further, the flagship crypto’s market dominance witnessed a 0.24% increase to 59.60%. Intriguingly, this rising movement comes despite $72.67 million worth of outflows in spot Bitcoin ETFs as of November 5, excluding BlackRock data, sparking investor speculations.

Ethereum Price Today

ETH price chart indicated gains worth nearly 7% in the past 24 hours and is currently trading at $2,579. The coin’s 24-hour low and high were recorded as $2,402.50 and $2,631.72, respectively. ETH’s market cap rested at $310.25 billion today. However, spot Ethereum ETFs recorded net flows worth $0 million, excluding BlackRock’s ETHA, adding to the intrigue surrounding the coin’s price movements.

Solana Price Today

The crypto SOL witnessed a 16% rise in value and is currently trading at $184. The coin’s intraday low and high were recorded as $159.38 and $185, respectively. Solana’s market cap rested at $87.09 billion today. Conversely, a recent SOL price analysis by CoinGape Media indicated that Solana whale sell-offs signal a potential market shift ahead.

XRP Price Today

XRP price experienced a nearly 6% increase in value and is currently sitting at $0.5312. The coin’s intraday low and high were recorded as $0.5048 and $0.5359, respectively. XRP’s market cap rested at $30.22 billion today. Meanwhile, XRP whales transferred $814 million worth of coins, sparking investor speculations surrounding the asset’s price.

Meme Coins Sector Performance Today

Simultaneously, Dogecoin (DOGE) led the meme crypto sector’s gains, soaring nearly 27% intraday to $0.2074. Further, even Shiba Inu (SHIB) price soared nearly 11% to $0.00001928. Also, PEPE, WIF, and BONK prices gained 15%-20% over the past day.

Top Cryptocurrency Gainer Prices Today

Goatseus Maximus

GOAT price rallied nearly 50% intraday and is now trading at $0.7005. The coin’s intraday low and high were recorded as $0.469 and $0.7229, respectively.

Sui

SUI price upsurged 21% over the past day and is now trading at $2.29. Its intraday low and high were $1.88 and $2.29, respectively.

dogwifhat

WIF price gained followed, gaining 20% over the past day to reach $2.40. The coin’s intraday low and high were $2.01 and $2.42, respectively.

Top Crypto Loser Prices Today

TRON

TRX price slipped marginally by 0.21% in the past 24 hours and is now sitting at $0.1621. Its intraday low and high were $0.1599 and $0.1627, respectively.

Monero

XMR price followed, waning 0.2% intraday and reaching $159. The crypto’s 24-hour low and high were $157.21 and $162.84, respectively.

Besides, BTC and ETH prices gained 0.5%-1% during the hourly time frame, sparking further investor enthusiasm over cryptocurrency prices today.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Elizabeth Warren Wins Third Senate Term Over Crypto Ally John Deaton

Published

11 hours ago

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November 6, 2024

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Massachusetts’s Democratic Senator Elizabeth Warren has been re-elected for the third time after defeating the Republican candidate and the cryptocurrency advocate John Deaton on Tuesday.

Senator Warren’s win was confirmed by the Associated Press, which allows her to keep on being one of the leading advocates for financial reform and cryptocurrency regulation in the Senate. Warren, an outspoken opponent of the cryptocurrency industry, defeated Deaton, who ran with the backing of key players in the crypto space.

Elizabeth Warren Wins Senate Term Over  John Deaton

As a politician, Warren has been consistently critical of the cryptocurrency industry fearing its potential to facilitate fraud and dodge regulation. She has been quite vocal on advocating for policies that enhance monitoring of the digital assets. 

Warren has been a big advocate of an anti-money laundering bill that aims to expand the BSA, including KYC measures, to the cryptocurrency industry players including miners, validators, and wallet providers. This regulatory effort is to enhance compliance of the crypto industry to the normal finance, a thing she has emphasized in the debates and other rallies.

In an October debate, Warren brought up Deaton’s connections to the crypto industry and said that the industry was spending 90% of its budget to try to unseat her in Massachusetts. Warren used her opponent’s relationships with the industry to push her argument that crypto must be subject to traditional finance rules.

John Deaton’s Campaign and Crypto Industry Support

John Deaton, a lawyer and an expert on cryptocurrency, gained much sympathy from key stakeholders in the cryptocurrency markets. Other industry supporters of Deaton include Ripple CEO Brad Garlinghouse, Ripple co-founder Chris Larsen, and crypto investors the Winklevoss twins and Scaramucci. 

Such industry leaders supported Deaton’s campaign by contributing money to it; some of the payments were made to the Commonwealth Unity Fund, a PAC which works for the promotion of pro-crypto politicians.

Deaton, an attorney who has previously taken on the US Securities and Exchange Commission (SEC) over some aspects of cryptocurrency, aimed to paint himself as a Republican in tune with modern Democratic thinking on the cultural issues. He, as a result, promised to continue the efforts of legalizing Roe v. Wade if elected, sought to expand his base in a state that was largely Democratic. However, some of the largest crypto PACs that have previously focused on opposing the industry’s enemies, including Ohio Senator Sherrod Brown, have not gotten involved in the Massachusetts campaign.

Implications for Crypto Regulation

Elizabeth Warren’s re-election means that the crypto industry will remain under close watch in Congress, particularly by the Senate Banking and Senate Finance Committees, which she will remain a member of. 

This shows that more stringent policies will continue to be implemented in the future with regards to the regulation of virtual currencies. 

John Deaton had stated that Warren was wrong to focus on crypto, since there were other questions that needed answering, such as inflation and border control. However, the Massachusetts voters chose Warren’s strategy and endorsed her comprehensive view of financial supervision and consumer advocacy.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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