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Cryptocurrencies Prices Today: Bitcoin falls 2.71 per cent to $86,408.81 in the past 24 hours and Dogecoin declining 7.66 per cent to $0.36
Cryptocurrencies have surged significantly after Donald Trump’s win in the US presidential election amid expectations that the new administration will favour the blockchain instrument.
The cryptocurrency market on Wednesday saw a cooling after days of continuous rally with Bitcoin falling 2.71 per cent to $86,408.81 in the past 24 hours and Dogecoin declining 7.66 per cent to $0.36, according to the latest data on CoinMarketCap.
Cryptocurrencies, especially the biggest Bitcoin and Elon Musk’s favourite Dogecoin, have surged significantly after Donald Trump’s win in the US presidential election amid expectations that the new administration will favour the blockchain instrument.
Bitcoin on Tuesday hit a major milestone, surpassing $90,000 for the first time before pulling back to below $86,500. The cryptocurrency was just over 11% away from $100,000 from its current local top.
Dogecoin also surged over 20 per cent on Tuesday.
In the crypto mining sector, US firms saw impressive gains, with Marathon Digital Holdings rallying nearly 30%, and CleanSpark and Hut 8 each jumping over 25%.
Meanwhile, the cryptocurrencies declined on Wednesday amid profit booking among investors.
US President-elect Donald Trump on Tuesday (local time) announced the creation of a new department — DOGE (Department of Government Efficiency). Elon Musk and Vivek Ramaswamy will lead this new department.
Meanwhile, Bitwise Asset Management announced the launch of the Aptos Staking ETP on the SIX Swiss Exchange, marking the first exchange-traded product for Aptos staking. This move is expected to boost interest in staking and further legitimise the space.
“These developments reflect continued enthusiasm in digital assets, as investors seize opportunities across markets,” according to CoinSwitch Markets Desk.
