More Money for Bitcoin Traders as Cryptocurrency Trades above $80,000
- For the first time, Bitcoin, the most expensive crypto currency rose to surpass $80,000
- The crypto currency earlier surged to $75,000 after Donald Trump won the US presidential election
- The market also caused the second-largest cryptocurrency, Ethereum's value to rise 4.64 percent to $3,220
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
The most expensive cryptocurrency in the world, Bitcoin, rose to above $80,000 on Sunday for the first time.
Source: Getty Images
The price of Bitcoin recently surpassed $75,000 on Wednesday, the same day that Republican Party candidate Donald Trump won the US presidential election.
CoinMarketCap, a website that tracks the price of cryptocurrency assets, showed that the top cryptocurrency has increased by more than 5.24 percent trading at $80,945.35 at 7:31 p.m. (GMT+1) on Sunday, November 10.
Legit.ng however confirmed that bitcoin hit over N82,000 on Monday, November 11th.
The second-largest cryptocurrency in the world by market value, Ethereum, also saw a 4.64 per cent increase in value to $3,220 as a result of the market.
Additionally, the market value of cryptocurrencies increased by 2.20% to reach a new high of $2.65 trillion, or $157.07 billion, in a single day.
The Trump campaign revealed in May 2024 that supporters may donate in cryptocurrency, including as bitcoin, ether, and dogecoin, suggesting that cryptocurrency will play a significant role in the election.
According to Financial Times, the former US president started endorsing World Liberty Financial, a cryptocurrency company founded by his old business associates and others, last month.
To generate $300 million, World Liberty started selling its token to eligible investors.
Nigerians to Trade Crypto Officially
Legit.ng reported that in a landmark move, the Nigerian government, via the Securities and Exchange Commission (SEC), had officially granted operational approvals to many crypto operators, showing acceptance of the digital currency.
On Thursday, August 29, 2024, the SEC announced that it had approved two Digital Asset Exchanges' approval-in-principle to begin operating under its Accelerated Regulatory Incubation Programme (ARIP) and admitted four other companies to test their models and technology under its regulatory incubation scheme.
According to reports, the firms include Busha Digital Limited, Quidax Technologies Limited, Trovotech Ltd, Wrapped CBDC Ltd, Housing Exchange NG Ltd, Dream City Capital, and Blockvault Custodian Ltd.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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