The Block
Election-themed memecoins such as Peanut the Squirrel and Department of Government Efficiency have seen substantial gains in the past 24 hours following Donald Trump’s U.S. election victory.In contrast, PolitiFi memecoins like Super Trump, MAGA, and Doland Tremp have experienced notable declines during the same period.
Analysts at Bernstein said that crypto’s regulatory headwind had turned into a tailwind following Donald Trump’s election victory.The analysts also reiterated their call for bitcoin to approach $90,000 by the end of this year and reach a bull cycle target of $200,000 in 2025.
Less than $1,500 of WLFI tokens have been sold over the past 24 hours.World Liberty Financial’s WLFI has generated sales of $14.8 million since going live on Oct. 15.
Reaction from the crypto community to Donald Trump’s win in the U.S. presidential election was largely positive.However, those within the industry are eager for him to fulfill promises made during the campaign, including freeing Ross Ulbricht and firing SEC Chair Gary Gensler.
Pump.fun has recorded a new monthly all-time high in revenue generated with $30.5 million.The following is an excerpt from The Block’s Data and Insights newsletter.
In premarket trading, Coinbase and MicroStrategy saw significant gains while broader market futures surged in response to Donald Trump’s U.S. election victory.QCP Capital analysts noted that bitcoin has historically experienced sustained rallies following U.S. elections, with prices consistently reaching new highs. They expect this bullish momentum to continue into 2025.
Polymarket has resolved its U.S. presidential election market after major news organizations called it for Trump.U.S. presidential election bets on Polymarket reached more than $3 billion in trading volume ahead of the election.
DeFi tokens like Aave and Uniswap saw substantial gains following Donald Trump’s victory in the U.S. election.Positive speculation around Aave’s price may be linked to its “partnering” with the Trump-linked World Liberty Financial project.
Quick Take Harris and Trump are now tied with 49% chances of winning the election on Polymarket’s $860 million prediction market. Harris’ odds of winning the debate according to polls stood at 94% on Polymarket. Bitcoin rose above $58,000 briefly before the debate but fell to lows of $56,700 during the televised debate.
Quick Take Indodax said it has identified security issues on its platform, with PeckShield estimating the losses could amount to $15.7 million. Indodax added that it is conducting maintenance, and its website and app are currently inaccessible.
