Crypto Market Sees Significant Post-Election Correction

Following the U.S. election on November 5, 2024, the cryptocurrency market experienced a dramatic surge before seeing significant corrections. Initial trading activity reached a peak of $126 billion daily volume, with the market capitalization soaring by nearly 25% to reach $3.9 trillion. However, this surge quickly gave way to a steep drop in trading activity, resulting in a decline of roughly 70%. Market data shows the cryptocurrency market cap now stands at $2.9 trillion, a stark contrast from its peak.