CoinEx Research report in November 2024: Trump wins the election, and Bitcoin and counterfeit coin s

CoinEx Research The November 2024 report highlighted the historic month of the cryptocurrency market. After Donald Trump won the US presidential election, Bitcoin rose to $99500 without precedent. Trump's support for cryptocurrencies, coupled with the institutions' confidence and innovation in the field of artificial intelligence cryptocurrencies, has laid a bullish tone for the market, and counterfeit currencies have also experienced significant growth.

Trump Wins, Bitcoin Hits a Record High

Bitcoin surged from a monthly opening price of $70300 to a record high of $99500, approaching the symbolic $100000 mark. Trump's victory brought optimism, especially because his policies hinted at possible regulatory reforms, including replacing the chairman of the SEC and discussing the strategic reserve of Bitcoin.

2024 election successfully triggers cryptocurrency explosion

Trump defeated Camara Harris, won all swing states and ensured the Republican Party's control of Congress, laying the foundation for the cryptocurrency friendly policy. Trump's famous supporter and dog coin enthusiast Elon Musk has aroused the interest of the entire crypto ecosystem in Elon themed meme tokens.

Institutional capital inflow: buying frenzy of Bitcoin spot ETFs and micro strategies

In November, institutional support became more evident, with Bitcoin spot ETFs receiving $6.1 billion in inflows, the largest monthly inflow to date. Micro Strategy increased its holdings of 134480 btc, equivalent to a cost base of approximately $12 billion, consolidating its market dominance and further supporting upward price momentum.

When AI encounters cryptocurrency

AI、 The integration of cryptocurrency and memes has brought about innovation in autonomous artificial intelligence assistants, as evidenced by Truth Terminal and Goatseus Maximus. These assistants have advanced functions such as social media engagement and autonomous decision-making. A key driving factor is the open-source Eliza contributed by ai16z, which has become one of the hottest projects on GitHub. On this basis, VVAIFU Utilize this technology to provide users with a platform for creating custom AI assistants and launching meme tokens through the PumpFun ecosystem. The success of this platform can be seen from its token destruction mechanism, which has destroyed over 4 million tokens since its launch.

Based on AI assistants for the future

The Base ecosystem is constantly expanding with AI assistant development at its core. Coinbase Based on templates, autonomous artificial intelligence assistants with encrypted wallets and on chain access permissions can be created, laying the foundation for A's integration in the field of encryption.

Virtual Protocol Focusing on game AI agents in 3D environments, Clanker simplifies token creation through Farcaster tags, with over 4700 tokens deployed and a net inflow of $835.9 million.

As Bitcoin's market share declines, altcoins shine brightly

Bitcoin's market share has reached a pressure level, paving the way for a potential counterfeit season. The noteworthy performance of altcoins includes a 4.5-fold surge in XLM and significant increases in XRP and ADA, with their value doubling this month. The increasing activity of altcoins marks the diversification of investor interest and market dynamics. Meanwhile, Bitcoin's market share has reached a critical pressure level and has rapidly declined in the past two weeks.

Stablecoins and rapid growth in liquidity

The issuance of stablecoins also experienced explosive growth in November, increasing by $14 billion to reach the level of April 2021, reflecting ample market liquidity. This surge is parallel to the bullish trajectory of the market and implies that the upcoming cycle will continue to grow.

Outlook for the December market

Although Bitcoin has reached the milestone of $100000, recent risks such as profit taking, deleveraging, and seasonal slowdown may bring volatility. However, strong market liquidity and growing institutional interest indicate a solid foundation for continued expansion in 2025, with a long-term goal of $150000.

About CoinEx

CoinEx Established in 2017, it is a global cryptocurrency exchange dedicated to making cryptocurrency trading easier. This platform provides a range of services to over 10 million users in more than 200 countries and regions, including spot and margin trading, futures, swaps, automated market makers (AMMs), and financial management services.

CoinEx Research Still committed to providing in-depth analysis and insights for the constantly evolving cryptocurrency market, helping investors cope with future complexities and opportunities.

This article is provided by the official and does not represent the position or investment advice of our website. Readers must make their own careful evaluations.