Bitcoin drops- Dogecoin rises
The outcome of the U.S. election could determine the crypto market's share price in the coming weeks.
The outcome of the U.S. election could determine the crypto market's share price in the coming weeks. On election day, prices remain undecided for now.
The crypto market starts today's US election day somewhat weak.
Compared to yesterday, total market capitalization is down about two percent and comes to about $2.4 trillion (about 2.3 trillion euros).
The Bitcoin exchange rate experienced a small decline of 0.4 percent, moving slightly further away from $70,000 (66,750 euros). Currently, the largest crypto currency is quoting just under $69,000 (65,750 euros). After the BTC price narrowly missed a new record in late October, profit taking is now causing a three percent drop this week.
With Ethereum, the decline is even more pronounced. The Ether exchange rate drops two percent today to $2,400 (2,287 euros). On a weekly basis, the second-largest crypto currency is now down seven percent.
Solana has the biggest drop on a weekly basis. With a current rate of 160 U.S. dollars (152 euros), the SOL rate is down 11 percent compared to last week. Over the past 30 days, the currency is still twelve percent in the plus.
XRP and Dogecoin are the only exceptions among the 10 largest crypto coins based on market capitalization. While Ripple-coin XRP is up only slightly by 0.5 percent, Dogecoin is gaining a whopping twelve percent. This puts memecoin at the top of the list of the best-performing crypto coins today. Bulls and bears seem to be awaiting the outcome of the U.S. elections, which may determine the atmosphere in the crypto market in the coming weeks and months.
