Post-Donald Trump cryptocurrency balance: Which coins are investors turning to?

The critical presidential elections held in the United States on November 5, 2024, deeply affected not only the U.S. economy but also global financial markets. The sudden value increases observed in the cryptocurrency markets, in particular, were interpreted as a sign that Donald Trump's influence in the election and the subsequent political expectations have boosted confidence in cryptocurrencies. According to CoinMarketCap data, leading coins such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and many others experienced striking price increases due to investor interest.

THE KING OF CRYPTOCURRENCY MARKETS IS ONCE AGAIN AT THE TOP

Bitcoin (BTC), the largest player in the cryptocurrency market, was one of the coins most affected by the election process. Trading at $68,741 on November 3, BTC rose to $80,474 on November 10, marking a 17.0% increase following the pre-election volatility. This momentum continued in the post-election period, and on November 14, BTC reached $93,434 with a 35.9% increase. Experts believe that this rise in Bitcoin symbolizes the overall confidence in the market and increases investors' interest in major cryptocurrencies.

ALTCOINS' LEADER IS GAINING STRENGTH

Ethereum (ETH) also experienced a significant increase during the election process. Starting at $2,456 on November 3, ETH showed a 29.9% increase by reaching $3,191 by November 10, and then rose to $3,337 on November 14, totaling a 35.8% gain. Ethereum's strong rise indicates that investors see ETH as a safe haven, in addition to its dominance in the DeFi and NFT sectors.

NEW FAVORITES OF INVESTORS

Dogecoin (DOGE), which made one of the biggest leaps in the post-election period, drew attention with a massive increase of 184.9%. Trading at $0.1515 on November 3, DOGE rose to $0.4316 on November 14. This reflects the market's risk appetite and highlights DOGE's sensitivity to social media and community influence.

Cardano (ADA) also became a focal point for investors in the post-election period. Trading at $0.3343 on November 3, ADA gained 81.1% in value, rising to $0.6053 on November 14. The rise of ADA indicates increased confidence in the project and that ADA is seen as a long-term investment.

SOLANA (SOL) AND RIPPLE (XRP): A RISE THAT MAINTAINS ITS MOMENTUM

Solana (SOL) gained significant momentum during the election period, showing a 36.9% increase. Starting at $162.5 on November 3, SOL reached $222.6 on November 14. XRP also increased by 47.8% to $0.7435 following the election. Analysts view the rise of major projects like Solana and Ripple as a renewal of overall market confidence.

OTHER NOTABLE COINS IN THE ALTCOIN MARKET

In the post-election period, alongside major coins like BTC and ETH, there was also significant activity in the altcoin market. Polkadot (DOT) rose by 43.1% to reach $5.42, while Avalanche (AVAX) gained 48.8% in value. These increases indicate that investors are turning not only to major coins but also to project-based altcoins.

Polkadot (DOT): DOT, which increased by 43.1%, has become a focal point for investors as a project that offers secure transition opportunities in blockchain infrastructure. Trading at $3.78 on November 3, DOT rose to $5.42 on November 14.

Chainlink (LINK): Known for its oracle solutions, Chainlink stood out in the altcoin market with a 33.6% increase. Rising from $10.76 to $14.37, LINK signaled that demand for oracle services may increase.

OVERALL VIEW OF THE CRYPTO MARKET AFTER THE U.S. ELECTIONS

According to analysts, the rise following the U.S. elections has created strong optimism in the market. Donald Trump's presence in the elections contributed to reducing the uncertainty and regaining investor confidence. Significant value increases in major coins (BTC, ETH) and some altcoins (ADA, DOGE, SOL) indicate that the impact of the elections on the crypto market will be felt for a long time.

This situation signals that investors' confidence in cryptocurrencies has increased and that the popularity of digital assets continues on a broader scale. In the coming months, it will be closely monitored how this environment of confidence will continue in the post-election markets.