Analysis Reveals 70% of Cryptocurrencies on Binance Below Pre-Election Prices
A recent analysis has unveiled that the majority of cryptocurrencies on the popular crypto exchange Binance are currently trading below their prices before the US election, defying the optimistic market sentiment of recent months. This discrepancy highlights a disconnect between perceived market momentum and actual price performance, casting doubt on the overall state of the cryptocurrency market.
Decline in Crypto Values Post-Election
In a detailed analysis by ltrd, a comparison of crypto prices pre and post the elections illustrates the stark reality of the market performance.
"Almost 70% of coins are now trading lower than their pre-election levels!" the analysis revealed.
While a few coins experienced notable surges, most struggled to maintain their value. Notably, assets like Hedera (HBAR), XRP (XRP), Mantra (OM), Stellar (XLM), and VeThor (VTHO) emerged as the top performers.
Conversely, certain assets faced significant declines, with examples such as Nerio (NEIRO), THORChain (RUNE), BOOK OF MEME (BOME), ConstitutionDAO (PEOPLE), and dogwifhat (WIF) among those depicted in the red zone.
An intriguing revelation from the analyst's data uncovered a specific peak period in market activity.
"The critical trading window for investors was between December 3rd and December 9th, where almost 80% of coins reached their pinnacle," the analysis pointed out.
Highlighting the importance of timing in trading, the analyst emphasized the fleeting nature of market opportunities that can vanish within days.
TRUMP Coin Hype and Market Fallout
Anticipation surrounding Donald Trump's election triumph triggering a crypto bull run was met with unexpected outcomes. The frenzy surrounding the Official Trump (TRUMP) meme coin did not fuel the market as anticipated but rather drained liquidity, catching traders off guard.
Crypto expert Otto Suwen drew parallels with the 2022-2023 bear market, illustrating how the excitement post-Trump's victory was short-lived.
Initially perceived as a regular market retracement, hopes were high for a seasonal surge by early 2025, with retail investors exploring various meme coin trends. However, the launch of TRUMP had a profound impact on on-chain liquidity, leading to unforeseen consequences.
Altcoins experienced massive drops, with the market sentiment shifting drastically from optimism to concern. This sudden shift unsettled traders, with Bitcoin (BTC) now under scrutiny for potential corrections, hinting at increased volatility ahead.
The unpredictability in market dynamics, coupled with trade tensions and recent policy announcements by President Trump, has left investors anxious about the sustainability of the ongoing bullish cycle.