The largest token climbed as much as 6.1 per cent on Sunday, before extending the gain to an unprecedented US$81,497 early in the Asian day on Monday.
Trump's victory in the presidential election has spurred celebrations in the digital-asset industry, which poured over US$100 million into backing a slate of crypto-friendly candidates.
The largest token climbed as much as 6.1 per cent on Sunday, before extending the gain to an all-time high of US$81,497 early in the Asian day on Monday. Bullish sentiment also lifted smaller coins, including a surge in meme-crowd favourite Dogecoin, which is being promoted by Trump supporter Elon Musk.
“With the dust from Trump's victory still settling down, it was only a matter of time before a run-up of some sort occurred given the perception of Trump being pro-crypto, and that's what we're seeing now,” said Le Shi, Hong Kong managing director at market-making firm Auros.
Trump pledged on the campaign trail to place the US at the heart of the digital-asset industry, including creating a strategic bitcoin stockpile and appointing regulators who are enthusiastic about digital assets. Jubilant traders for now appear largely unfazed by questions such as the speed of likely implementation or whether a strategic stockpile is a realistic possibility.
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