Last week's win by former President Donald Trump saw a comeback not only for his seat in the United States government but also for the top coin in the market, Bitcoin, which achieved a new all-time high, leading this week's edition of CryptoWatch. Alongside this, there is also the massive fight launched by FTX against cryptocurrency exchange platforms that are withholding the money they kept, most notably on Crypto.com.
Also, learn more about the latest developments in the ever-changing crypto market as you start your week, particularly with the significant rise of the blockchain following this monumental US election.
Bitcoin Reaches a New All-Time High and Growing
In the first week of November, cryptocurrency saw a dynamic shift in the market for the good, with the top digital currency, Bitcoin, seeing an outpouring rally from its supporters, achieving its previous all-time high of $75,000. In the last week alone, Bitcoin broke the $73,000 threshold by peaking at $75,389, the first time it broke its previous ATH which lasted for almost eight months.
This happened after Donald Trump's monumental win in the 2024 US elections as crypto traders who believe in the Republican candidate rallied the market to a significant investment in the top coin, as BTC is known for being backed by Trump.
However, it was not the end for Bitcoin's dominance as it has not faltered since November 5, and it is set to start the week with another record-breaking climb to $82,197 (via Forbes), with an almost 20 percent climb over the past week.
Read Also: Trump's Tariff Plans Could Spike Prices on Gaming Gear, Electronics: Here's What It Means for Gamers
FTX Fights for its Money on Crypto.com and MORE
FTX has long declared its Chapter 11 bankruptcy, but the company's frozen assets have not yet all recovered after its repayment plans were already approved by the court, and that includes several holdouts like Crypto.com. According to the latest developments, Alameda Research, the investment firm by FTX, has filed a complaint against Crypto.com to recover the $11 million under their account which still remains blocked for access.
It was revealed by reports that Alameda's account, under the name "Ka Yu Tin," remains on hold by Crypto.com, with its latest filing having a sworn statement from its former CEO, Caroline Ellison, before she surrendered herself to serve her two years.
It is already two years since the account was locked by Crypto.com which refused to return the $11 million to FTX, also including another crypto exchange platform, KuCoin. FTX revealed that this money is meant to repay its $12 billion debt to investors, especially after Sam Bankman-Fried's actions.
Top Coin Prices Now in the Crypto Market
It is almost all green today in the cryptocurrency market charts as the top coins have grown exponentially over the past week, with the entire industry seeing a significant rise as Donald Trump, the candidate who pledged a crypto future, won the election.
Bitcoin has beat its all-time high in different days over the past week, and it is starting the week by lounging around the $82,000 threshold, its biggest in history.
That being said, the biggest climb was with Dogecoin which is now at the sixth spot, with the meme coin rallyingalmost 84 percent over the past week, followed by Cardano which climbed to the 9th spot with around 78 percent growth in the past week.
- Bitcoin (BTC) - Price: $82,031.80 | 19.36 percent increase over the past seven days
- Ethereum (ETH) - Price: $3,189.27 | 29.28 percent increase over the past seven days
- Tether (USDT) - Price: $1.00 | 0.13 percent increase over the past seven days
- Solana (SOL) - Price: $215.57 | 31.94 percent increase over the past seven days
- Binance Coin (BNB) - Price: $625.43 | 11.66 percent increase over the past seven days
