"With Trump's Election, US Market Cap Increases by $7 Trillion... Expected to Flow into Cryptocurrency"
Son Min
Summary
- The US stock market cap increased by $7.1 trillion, which was attributed to Trump's election.
- Ash Crypto claimed that this increase will also encourage fund inflow into the cryptocurrency market.
- The current cryptocurrency market cap is reported to be about $3.4 trillion.
There is a claim that as the market capitalization of the US stock market increased with Trump's election, the market cap of the cryptocurrency market is also expected to increase.
On the 4th (local time), Ash Crypto, a cryptocurrency trader with 1.4 million followers, stated on X, "Last year, the market capitalization of the US stock market increased by $7.1 trillion," and "Trump's election was a big reason." He further claimed, "The increase in market cap is twice the size of the entire cryptocurrency market capitalization," and "more funds will flow into Bitcoin (BTC) and altcoins thereafter."
Meanwhile, according to CoinGecko data, the current total cryptocurrency market cap is about $3.4 trillion.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit![Dow Tops 50,000 for First Time Ever as “Oversold” Narrative Spreads [New York Stock Market Briefing]](https://media.bloomingbit.io/PROD/news/1c6508fc-9e08-43e2-81be-ca81048b8d11.webp?w=250)
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