The total daily trading volume in the crypto market has surged to nearly $175 billion amid political changes in the U.S.

The global cryptocurrency market capitalization has reached $2.52 trillion, increasing by 2.51% over the past day. The total trading volume in the last 24 hours amounted to $174.84 billion, which is a 5.51% rise compared to the previous period.

This information was reported by Mind, based on data from CoinMarketCap.

As of 9:25 AM Kyiv time, Bitcoin (BTC) is trading at $74,870.16, showing a daily increase of 0.67%. The dominance of the first cryptocurrency in the market stands at 58.88%, which is 1.17% lower compared to yesterday.

Ethereum (ETH) is demonstrating a stronger performance with a daily growth of 8.22%, trading at $2,815.13. Among other altcoins, it's worth noting Solana (SOL), which has risen by 0.38% to $187.50, and BNB, which increased by 1.68% to $597.00.

In a comment to Mind, analysts from Binance Research explained that these market indicators are largely influenced by recent political changes in the United States. The anticipated return of Donald Trump to the White House in January 2025 is already having a positive effect on the cryptocurrency sector.

Analysts note that expectations regarding the future policies of the Republican Party, especially in the areas of cryptocurrency regulation and economic stimulation, are creating a positive sentiment among investors. Trump's previous interest in digital assets and his connections to the DeFi sector further bolster optimistic attitudes in the market.

Background. Earlier, Mind reported that Bitcoin increased by nearly 10% in a day following Trump's election victory.