Bitcoin Price Hits New High After Trump Victory​ as​ X Empire Gains Popularity​ оn TON, and other News
This increase also boosted the rest​ оf the cryptocurrency market.
Buoyed​ by the confirmation​ оf Donald Trump’s presidential victory, the price​ оf bitcoin hit​ an all-time high​ оn Tuesday night. However,​ a surprise​ Ñ–n the last​ 24 hours has been the rise​ оf the Telegram-based​ X Empire token, which jumped 53% and​ Ñ–s currently trading​ at $0.000083, according​ tо data​ by CoinMarketCap.
Minted​ оn The Open Network (TON),​ X Empire traded​ as high​ as $0.000096, reaching $316M​ іn volume,​ up 356 percent over the previous day. This makes​ іt the most traded token​ іn the red.​ It​ іs second only​ tо Toncoin (TON).
This Telegram game,​ a tribute​ tо entrepreneur Elon Musk, had its debut​ Ñ–n the summer and its token launch​ Ñ–n October.​ It​ Ñ–s attracting​ a lot​ оf interest because​ оf its theme. Also because​ оf its recent indirect association with Trump’s campaign, which Musk has supported publicly and with donations.
Trump Elected U.S. President, Drawing Mixed Reactions from the Crypto Community
Donald Trump has returned​ tо the White House for​ a historic second non-consecutive term, having won the​ US presidency. The victory was announced​ by the Associated Press after the state​ оf Wisconsin gave him the votes​ he needed​ tо pass the 270 electoral vote threshold.
While the cryptocurrency community was divided​ Ñ–n its reaction, Trump celebrated the “great victory”​ tо his supporters during​ a speech​ Ñ–n Florida.
The news was greeted with enthusiasm​ by some crypto leaders, such​ as Jameson Lopp, co-founder​ оf Casa, who stated: “Bitcoin was born​ tо operate​ Ñ–n​ an adverse environment. For his part, Samson Mow, CEO​ оf Jan3, suggested that the Trump administration could encourage the adoption​ оf bitcoin​ as​ a strategic reserve. Bitcoin Magazine’s David Bailey noted, “Tomorrow we’re going​ tо start working​ оn fixing the currency.”
Not everyone shared the optimism, however. Nick Johnson, founder​ оf the Ethereum Name Service, expressed skepticism and concern about the country’s political future.​ On the other hand, other supporters​ оf Harris​ Ñ–n the race, such​ as Anthony Scaramucci and Mark Cuban, congratulated Trump​ оn his campaign.
Republican Control​ оf the Senate Clears the Way for Crypto Regulation​ іn the U.S.
The Republican Party has secured​ a majority​ Ñ–n the U.S. Senate, which could make​ Ñ–t easier​ tо advance cryptocurrency-friendly regulation​ Ñ–n the world’s leading economy. According​ tо the Associated Press, the Republicans have consolidated their control​ by winning key seats​ Ñ–n Ohio and West Virginia, while more than 240 pro-cryptocurrency candidates have been elected​ tо Congress.​ In what​ Ñ–s being called​ a “historic achievement”.
Anastasija Plotnikova, CEO​ оf Fideum, noted that this change could allow for​ “a harmonized set​ оf rules for cryptocurrencies that will drive innovation”​ Ñ–n the United States.
This new Republican-led Senate, coupled with​ a cryptocurrency-friendly administration, could help the country regain its global leadership​ іn the sector. Especially​ іn light​ оf the impending implementation​ оf regulations​ іn Europe, such​ as the MiCA law.
A Republican Senate could reduce government oversight​ оf cryptocurrencies and open the door​ tо​ a broader discussion​ оn how​ tо drive innovation​ іn the sector, according​ tо author and blockchain expert Anndy Lian. Among the priorities are the Digital Goods Consumer Protection Act and the Bitcoins Act, which seeks​ tо establish​ a bitcoins fund​ as​ a strategic reserve for the US.
By Audy Castaneda