Originally published on: November 07, 2024
Galaxy Digital, a leading cryptocurrency trading firm, experienced its most significant trading day of the year on the same day as the US presidential election, according to a recent report. With Donald Trump’s victory sparking a surge of interest in the crypto market, Galaxy Digital was buzzing with activity.
Michael Novogratz, the CEO of Galaxy Digital, shared his excitement about the milestone trading day. He mentioned that the firm was operating at full capacity, engaging in trading activities with counterparts both in the US and abroad. Novogratz expressed that the day felt like a validation of all the hard work put into the industry.
Following the news of Trump’s win, the crypto market experienced a notable surge as investors anticipated a significant impact on the industry. Bitcoin, the leading cryptocurrency, reached a peak of $76,500 on the day after the election, riding on a wave of market optimism.
In addition to Bitcoin’s performance, Ether prices also spiked by 10%, with US spot Ether exchange-traded funds (ETFs) witnessing a substantial inflow of $52.3 million, the highest in six weeks. Furthermore, US crypto stocks saw significant gains, many of them in double digits, following Trump’s decisive victory.
Experts suggest that Bitcoin’s months of re-accumulation could fuel a bullish trend in the market, with potential for a breakout to new all-time highs. While Novogratz didn’t publicly support Trump’s presidency, he emphasized his unwavering support for the crypto industry, highlighting the importance of bipartisan collaboration.
As the crypto market continues to react to the US election results, investors are closely monitoring the latest developments for potential investment opportunities and strategies. Stay up-to-date with critical insights, market outlooks, and expert analysis by subscribing to our newsletter today.
With Galaxy Digital leading the way in trading activity and market trends, the future of cryptocurrency post-US election remains uncertain yet promising for investors seeking growth opportunities. Don’t miss out on the latest updates and subscribe to our newsletter for exclusive content and industry insights.
