Cryptocurrency Market Surpasses $3 Trillion as Trump’s Election Boosts Optimism

The global cryptocurrency market has reached a new milestone, surpassing $3 trillion in market capitalization. This surge follows Donald Trump’s election as U.S. president, which has fueled speculation of more favorable regulatory conditions that could accelerate growth across digital assets.

Data from CoinGecko showed that the total value of the cryptocurrency market hit nearly $3.2 trillion in early trading on November 14 in Asia. This achievement exceeds the previous highs set in 2021, a year characterized by pandemic-driven stimulus that encouraged speculative investment.

Despite recent stagnation in sector growth and trading activity, Bitcoin remains dominant, reaching a record high of $93,480 and contributing significantly to the market’s value surge. The cryptocurrency has doubled in value throughout the year and has gained 30% since the U.S. election on November 5, now trading at $90,000.

Ether, the second-largest cryptocurrency, has also seen a substantial rise, climbing 33% to $3,220. Dogecoin, which has been backed by Elon Musk, a Trump ally, experienced a staggering increase of 140%.

The market’s rally has been driven by the expectation that the Trump administration and newly elected pro-crypto lawmakers may reduce regulatory obstacles that have previously created uncertainty. This has sparked optimism among investors and encouraged significant inflows into cryptocurrency exchange-traded funds (ETFs), appealing to institutions wary of direct cryptocurrency exposure.

In parallel, crypto-related stocks have experienced notable gains. MicroStrategy Incorporated, the largest corporate holder of Bitcoin, saw its stock soar by over 44% since election day. Similarly, Coinbase and Robinhood experienced jumps of 47% and 28%, respectively. Additionally, crypto miners such as Riot Platforms, Marathon Digital Holdings, and CleanSpark witnessed increases of 31%, 34%, and 48%, respectively.

As the market continues to evolve, the potential for regulatory changes and increased institutional investment could further shape the future of cryptocurrencies and related assets.