Investors got excited as Dogecoin experienced a big price upsurge making it the best-performing cryptocurrency in the last 24 hours after a massive campaign rally by presidential candidate Donald Trump. Dogecoin’s price spiked following the disclosure that the Tesla CEO is being considered as the head of a proposed department. Related Reading: Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead Musk As Gov’t Efficiency Head Former US president Trump, who is eyeing a White House comeback, announced that Tesla CEO Elon Musk will hold a key position in his administration once he emerges triumphant in the upcoming US elections. Trump said that Musk would be the head of a proposed department called the Department of Governmental Efficiency or D.O.G.E. for short, an acronym that bears resemblance to Dogecoin. A similarity analysts viewed sparked the price rally. pic.twitter.com/y0UCd5NvMj — Elon Musk (@elonmusk) October 28, 2024 The Tesla CEO has been making rounds in the country to endorse Trump in his pursuit of getting a second chance at the White House. In a Trump rally in New York City over the weekend, Musk emphasized the benefits of establishing D.O.G.E. He explained that it would generate huge savings for the US government, saying that the new department could trim the annual US budget by $2 trillion. At the @realDonaldTrump / @JDVance rally at Madison Square Garden! https://t.co/gEcj39mXIp — Elon Musk (@elonmusk) October 27, 2024 Dogecoin Price Rally Mentioning the planned D.O.G.E. in a Trump campaign sortie reignited the interest in the oldest meme asset. Charts showed that the price of Dogecoin increased by nearly 15% and traded at $0.157 as the crypto becomes the biggest gainer among the top 100 digital currencies by market cap. According to CoinGecko, Dogecoin has been experiencing a price rally hitting $0.16 on Monday, the highest it has ever been since June. The subtle increase in Dogecoin over the last few weeks coincides with Musk’s continuous involvement in Trump’s quest to get re-elected as US president. After the recent shooting incident against Trump, Dogecoin prices climbed up to a level which is even higher than what it is currently experiencing in relation to D.O.G.E. DOGE price up in the last 24 hours. Source: Coingecko A Portion Of The Coins Are In Top Wallets Analysts said that Dogecoin can provide higher liquidity and abundant centralized listings, saying that the latest breakout pushed the coin’s volume to $2.5 billion. They said that top wallets hold about 21% of all Dogecoin, which is owned by individuals looking for long-term profits. At the time of writing, DOGE was trading at $0.165, up 14% and 16.3% in the daily and weekly timeframes. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks Meanwhile, market observers noticed that the Dogecoin price uptick has no impact on “dog-themed tokens”. They also noted that several wallets with substantial Dogecoin are seen to be keen on disposing of their digital assets anytime. Featured image from CCN, chart from TradingView
Today, Bitcoin (BTC) briefly traded above $69,000, coming close to its all-time high (ATH) value of $73,737 recorded earlier this year in March. Bitcoin ‘Bullish Setup’ Reminiscent Of 2020 Rally After months of sideways price movement since March, BTC is continuously attempting to reach a new ATH as the US presidential election draws near. The […]
Crypto-based investment products continued their positive streak after recording nearly $1 billion in inflows this week, seemingly fueled by the upcoming US Presidential elections. Bitcoin (BTC) led the positive net flows for the third consecutive week, making October the fourth largest month of crypto investment product inflows on record. Related Reading: US Investors Hold 4.9% […]
World Liberty Financial, the crypto venture launched by former President Donald Trump, is reportedly planning to develop its own stablecoin intended to serve as a stand-in for the US dollar. World Liberty’s Stablecoin Ambitions According to a Fortune report, the World Liberty team is currently focused on ensuring the financial product’s safety before its market […]
Dogecoin's price is up today, fueled by Elon Musk's mention of "D.O.G.E." during the latest Donald Trump's campaign rally.
A Donald Trump presidency would be "bearish memecoins" as they are a "form of economic populism and a statement against the unfair," a professor claims.
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
In the United States, issuers are seeking to register ETFs for Solana and XRP ahead of the November presidential elections.
As Americans gear up for the elections, the digital dollar comes back into focus. What roles will a CBDC and stablecoins play in shaping the future of the US economy?
In our latest Cointelegraph video, we take a deep dive into the potential short- and long-term impacts of the US presidential elections on the cryptocurrency landscape.
In a recent interview on the Think Crypto Podcast, US Representative French Hill expressed his vision for a new leadership at the US Securities and Exchange Commission (SEC) in 2025, emphasizing the importance of innovation in the digital asset space. Hill, a long-time advocate for cryptocurrencies, also spoke candidly about the potential for significant regulatory […]
In a research paper dated October 24, Geoff Kendrick, Global Head of Digital Assets Research at Standard Chartered Bank, predicts that Bitcoin could surge to $125,000 by the end of the year if former President Donald Trump secures victory in the upcoming US presidential election. When Bitcoin Could Hit $125,000 Kendrick’s analysis hinges on the interplay between Bitcoin’s price movements and the US political landscape. “We use daily BTC vol levels and popular strike levels to estimate post-election price moves,” he states in the report titled Bitcoin – Post-US Election Playbook. According to Kendrick, Bitcoin prices have been ascending in recent weeks, aligning with other trades favored by Trump supporters. The report forecasts that Bitcoin is likely to reach approximately $73,000 by Election Day on November 5, nearing its all-time high of $73,800 recorded in March. “Our base case is that Bitcoin rises to around $73,000 by Election Day, catching up to betting-market probabilities of a Trump win,” Kendrick notes. Related Reading: Is Too Late To Accumulate Bitcoin? What This Indicator Says Betting markets are reflecting increasing confidence in a Trump victory. “The average betting odds of a Trump victory now stand at 59%, according to RealClearPolitics. Furthermore, conditional probabilities in specific betting markets (Polymarket) suggest a 75% chance of a Republican sweep if Trump wins the presidency,” the report highlights. Should Trump win, Kendrick anticipates immediate bullish momentum for Bitcoin. “Assuming a Trump victory, options break-even implies a further price rise of about 4% when the presidential outcome is known, and around 10% in total within a few more days,” he explains. Related Reading: $200,000 Bitcoin In 2025? $791 Billion Asset Manager Calls It ‘Conservative’ The potential for a Republican sweep of Congress amplifies this outlook. “If the Republicans sweep Congress, our year-end target level of USD 125,000 should come into view,” Kendrick asserts. This scenario is underpinned by significant open interest in Bitcoin call options expiring on December 27 at the $80,000 strike price, suggesting rapid movement toward that level. What If Harris Wins? In contrast, if Vice President Kamala Harris emerges victorious, the report suggests a temporary setback for Bitcoin prices. “If Harris wins, we see BTC initially trading lower but still ending 2024 at fresh highs around $75,000,” Kendrick projects. This implies a resilient long-term outlook for Bitcoin regardless of the election outcome, though the magnitude of gains would differ. Kendrick emphasizes the role of options market data in gauging potential price movements. “Options info helps estimate initial post-election price moves,” he states. The heavy trading volumes and popular strike levels serve as indicators of investor expectations and market positioning ahead of the election. The recent dip in Bitcoin’s price to a local low of $65,200 was addressed as well. Kendrick believes this is “likely to be the last before the U.S. presidential election,” suggesting that any short-term corrections may be overshadowed by the impending political developments. At press time, BTC traded at $67,520. Featured image created with DALL.E, chart from TradingView.com
Amid the surge in polls in favor of former President and Republican candidate Donald Trump over Vice President Kamala Harris, expectations for a further recovery of the Bitcoin price soared, but the rally seen in late September and the first weeks of October has faded, with experts attributing it to tightening financial conditions that could affect the broader crypto market. How Trump’s Campaign And Rising Yields Impact Bitcoin Price According to a recent Bloomberg report, Bitcoin’s association with Trump is becoming more pronounced as global markets react to his potential return to the White House. Nonetheless, the financial landscape is shifting, with rising bond yields and a strengthening dollar coinciding with Trump’s lead in prediction markets. Experts anticipate that a Trump victory could usher in a pro-growth economic agenda, thereby tightening monetary policy. Related Reading: Bitcoin MACD Turns Bullish Since 2023: Predictions Of Cycle Top And Next Bear Market Bottom Market analysts, such as Tony Sycamore from IG Australia Pty, emphasize that the current selloff in stocks and a stronger US dollar and rising yields signal tightening financial conditions. The analyst explains that this environment is generally unfavorable for the Bitcoin price and the broader crypto market, which tends to thrive in more liquid market conditions. Sycamore went on to say that while the initial monetary conditions were already loose, the speed of the tightening poses a significant threat to the Bitcoin price and other risk assets as the likelihood of Trump securing another term in the Oval Office increases. Regulatory Easing Under Trump’s Return? Trump’s campaign has openly embraced the cryptocurrency sector, promising to position the US as the “crypto capital of the world.” His approach starkly contrasts Harris’s more cautious stance, which involves supporting a regulatory framework to foster industry growth while ensuring consumer protection. The recent Bloomberg News/Morning Consult poll reveals that Trump and Harris are statistically tied among likely voters in key swing states, indicating that the upcoming election could hinge on targeted advertising, rallies, and grassroots efforts—all of which could influence market sentiment. In the crypto market, investors are increasingly betting on a potential victory for former President Donald Trump on Polymarket. Current polls show Trump leading with 62% support compared to 38% for Vice President Kamala Harris as of Thursday, marking the largest margin since the race began. Related Reading: XRP Price Aims to Recover: Can It Reverse the Downtrend? Should Trump win in the upcoming election, Bloomberg notes that experts predict a potential yield increase, which could negatively impact risk assets, including the Bitcoin price performance. Caroline Mauron, co-founder of Orbit Markets, points out that while higher yields may pose challenges, the anticipated regulatory easing under a Trump administration could be pivotal in shaping the crypto landscape. Despite potential economic challenges that could negatively impact BTC’s performance, Mauron concludes that the regulatory shift could support Bitcoin and other digital assets in regaining their footing. At the time of writing, Bitcoin is trading at $67,670, up 2.4% over the past 24 hours. Featured image from DALL-E, chart from TradingView.com
A survey of 191 bankers indicated heavy support for Trump’s cryptocurrency and taxation policies.
Ripple co-founder and Executive Chairman Chris Larsen said he'd added another $10 million in the Ripple-tied token {{XRP}} in an effort to boost Vice President Kamala Harris as the Democrat faces off against former President Donald Trump in next month's election.
Polymarket, the predictions market on Polygon, is drawing global attention. Not only is it among the most active dapps without their token, but it is also closely being monitored by pollsters tracking the ongoing presidential campaign in the United States. In the hotly contested campaign, the current vice president, Kamala Harris, is battling with Donald […]
Musk’s rhetoric painted a dire picture of the US economy while pitching his own recovery plan.
More than half of voters in the United States are more likely to vote for a pro-crypto candidate versus one who is not, Craig Salm said.
Republican presidential nominee Donald Trump pitched himself as a pro-Bitcoin candidate, but not too long ago he said it was based on “thin air.”
A political action committee supporting former President Donald Trump has raised approximately $7.5 million in crypto donations since early June, according to a recent filing with the Federal Election Commission. The Trump 47 joint fundraising committee received contributions in Bitcoin, Ether, XRP, as well as stablecoins Tether and USD Coin. The latest filing, submitted on […]
Donald Trump new cryptocurrency initiative, World Liberty Financial (WLF), has encountered significant challenges since its launch. According to a report by CNBC, the project aims to establish a crypto bank and was expected to attract considerable investor interest. However, the token sale, which began on Tuesday, was marred by website outages and technical issues, severely limiting participation. Trump Crypto Venture Faces Setbacks Zachary Folkman, co-founder of WLF, had previously indicated that over 100,000 individuals were on the whitelist for the investment opportunity. Despite this promising start, the reality was starkly different. Related Reading: XRP Price Growth: Analyst Breaks Down The Movements And Why It’s So As of Tuesday afternoon, blockchain data from Etherscan revealed that only about 4,300 unique wallet addresses held the WLF token, amounting to roughly 4% of the registered investors. The platform reported selling more than 532 million tokens at a price of 15 cents each, which represents less than 3% of the total 20 billion tokens available for public sale. Throughout the day, users faced consistent disruptions, with the website often displaying a message stating, “We are under maintenance.” WLF has yet to provide an official comment regarding these technical difficulties. These setbacks come at a crucial time for Trump, who is the Republican presidential nominee and has heavily promoted the project since August under the branding “The DeFiant Ones,” a nod to decentralized finance (DeFi). The project’s roadmap indicates an ambitious goal of raising up to $300 million at a $1.5 billion valuation during the initial sale. Investors To Receive Voting Rights On WLF Platform Folkman, who has a varied entrepreneurial background, including a previously owned company, Date Hotter Girls, has stated that 20% of WLF’s tokens are allocated to the founding team, which includes members of the Trump family. The WLF token, WLFI, is structured as a Regulation D offering, allowing it to raise capital without registering as a security with the SEC, provided it meets certain conditions, such as limiting the sale size and restricting participation to accredited investors. So far, details about the project’s functionalities remain sparse. Related Reading: Worldcoin Gains Upside Momentum: Is A Major Breakout Ahead? Individuals associated with the Trump family project have suggested that the platform will facilitate borrowing, lending, and investing in cryptocurrencies. However, a formal white paper or comprehensive business plan has not been made public, and the primary disclosure has been that investors will receive voting rights on the forthcoming WLF platform. In a step toward legitimacy, WLF has also initiated the process of obtaining approval from Aave, a DeFi ecosystem and lending platform known for its open-source framework and reputation in the crypto community. Featured image from DALL-E, chart from TradingView.com
The crypto market is up today, following a bullish performance from US equities markets and increasing traders' demand for crypto investment products.
US Vice President Kamala Harris has pledged to support crypto regulation and digital assets in her new economic proposal, as various new media outlets reported on Monday. The bid comes after pro-crypto Republican candidate Donald Trump took the lead in the polls against the democratic nominee. Related Reading: Bitcoin Open Interest Decline Mirrors 2021 Drop, […]
Harris takes a softer stance than Biden on crypto regulation and is more skeptical than Trump on taxes, Bitcoin mining and self-custody, according to Galaxy Research.
The Democratic candidate appears to further embrace cryptocurrency with her “Opportunity Economy” pitch.
His odds of winning the U.S. presidential election have soared to a more than two-month high.
America is balancing a weakening dollar against an asset with the potential to address many of the financial issues that face a squeezed middle class.
Elon Musk says that prediction markets are more accurate than polls.
With the 2024 presidential election just around the corner, crypto has gained significant momentum as a key issue in the race to the White House, especially with candidates Vice President Kamala Harris and former President Donald Trump expressing support for the digital asset industry. However, law experts assert that it is not the US President […]
According to Geoff Kendrick, Standard Chartered’s global head of digital assets research, Bitcoin (BTC) dropping below $60,000 due to escalating geopolitical tensions in the Middle East could offer a prime buying opportunity. Bitcoin Below $60,000, A Buying Opportunity? As tensions between Iran and Israel intensify, risk-on assets like Bitcoin may face a downturn as investors […]