The crypto market is always primed for action, but important political events kick things up a notch.
With Trump now confirmed as the next US president, certain coins are already seeing big price jumps.
Bitcoin, Solana, and FreeDum Fighters are three standouts – all rallying in the past day.
Bitcoin Smashes All-Time High as Trump Victory Signals New Crypto Era
Bitcoin’s surge past $75,000 came just as the election results began to roll in.
This new all-time high has been widely linked to Trump’s presidential win.
Though Bitcoin’s price has now settled around $73,900, the mood remains strongly bullish – a clear shift from the struggles of last week.
Trump’s campaign promises, including plans for a national BTC reserve and a new SEC chair, seem to have resonated with traders.
And that has pushed trading volumes through the roof.
Dennis Porter, co-founder of the Satoshi Action Fund, was blunt about the impact of Trump’s win.
He said that the “anti-Bitcoin movement” in the US is essentially over.
Let’s be absolutely clear, the anti-Bitcoin movement died last night. The USA will be the most pro-Bitcoin nation in the world. We will have a Bitcoin Strategic Reserve. We will enshrine a national law to defend Bitcoin Rights.
— Dennis Porter (@Dennis_Porter_) November 6, 2024
For crypto traders who have navigated years of regulatory pressure, Trump’s pro-crypto approach feels like a refreshing change.
It suggests that the US might soon become the “crypto capital” of the world, as he promised.
Solana Flips BNB as Trump Win Boosts Spot ETF Hopes
Solana is proving to be another big winner in the post-election rally.
SOL has jumped to $187 and overtaken Binance Coin to secure its spot as the fourth-largest cryptocurrency by market cap.
This 14% surge isn’t just due to random volatility.
It’s a sign of the growing optimism that a spot SOL ETF could finally get approved under the Trump administration.
Trading volumes reflect this optimism, with SOL activity spiking 220% to over $9 billion in the past day.
Analysts are already revising their forecasts, with some even hinting that SOL could rival Ethereum.
Syncracy Capital’s Daniel Cheung thinks the market still hasn’t grasped the potential impact of today’s Trump win.
He believes an ETF approval in early 2025 could push SOL towards $1,000.
His enthusiasm stems from Trump’s pro-crypto outlook and the belief that his administration might take a more relaxed stance on token classification.
Plus, with ETF applications from VanEck and 21Shares already live, the path to approval now seems closer than ever.
And that’s causing the SOL price to soar.
PolitiFi Meme Coin FreeDum Fighters Soars as High-APY Staking App Attracts Investors
Alongside Bitcoin and Solana, another winner in the post-election crypto market is FreeDum Fighters.
FreeDum Fighters is a meme coin that’s tapping into the political buzz with its tongue-in-cheek features.
The project’s presale has raised over $440,000 as investors pile in due to its mix of political parody and passive rewards potential.
This latter aspect is particularly interesting.
FreeDum Fighters has a staking system featuring two fictional characters – MAGATRON and Kamacop 9000 – designed as playful nods to the election’s leading players.
Investors can stake DUM tokens to “back” either of these candidates.
And by doing so, they’ll earn even more DUM tokens in return.
On top of that, FreeDum Fighters will also host weekly debates on social media, with supporters of the winning side earning extra DUM.
It’s a setup that’s been a hit due to the political energy in the market right now.
With Trump’s victory, members of FreeDum Fighters’ Telegram channel believe the project might see even more interest.
Crypto influencer ClayBro believes that will be the case.
He recently suggested that FreeDum Fighters could send politically themed tokens “to the next level.”
Fellow influencer Jacob Bury even predicted the DUM token might pump.
All in all, with Trump back in the White House and the crypto market on fire, FreeDum Fighters seems like it could be on track for an explosive debut.
Visit FreeDum Fighters Presale
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