Hassan Maishera
TL;DR
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BTC has set a new all-time high of $75,011 after adding more than 9% to its value in the last 24 hours.
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Dogecoin has overtaken XRP to become the seventh-largest cryptocurrency by market cap following its 30% rally.
BTC Sets a New All-time High
The cryptocurrency market has been rallying over the last few hours as results from the United States presidential elections continue to come in. Bitcoin, the leading cryptocurrency by market cap, has set a new all-time high above $75k after rallying in the last few hours.
Bitcoin rallied by more than 9% in the last 24 hours to set a new all-time high of $75,011. The rally comes as Republican candidate Donald Trump currently takes the lead in the presidential elections. However, with results still coming in, it is too close to call a winner.
Despite that, traders are optimistic about a Trump win, translating into Bitcoin’s price soaring above $75k in the last few hours.
DOGE Overtakes XRP
Altcoins are also rallying, with DOGE currently the best performer amongst the top 10 cryptocurrencies by market cap. The Dogecoin native token is up nearly 30% in the last 24 hours to hit the $0.21 mark.
The rally allowed DOGE to overtake XRP and become the seventh-largest cryptocurrency by market cap. DOGE’s market cap now stands above $31 billion, while XRP's is $30 billion.
SOL, Solana’s native coin, is also up 15% in the last 24 hours and is now trading above $180 for the first time in months. Thanks to this rally, the total cryptocurrency market cap is approaching the $2.5 trillion mark.
