One market analyst said there’s “no reversal in sight” for Ethereum’s value against Bitcoin.
The crypto industry is watching Senate races in Ohio, Montana, Pennsylvania, Wisconsin, and Massachusetts — all seen as key to getting pro-crypto lawmakers into office.
Warren has amassed nearly 75% of the votes for the Massachusetts seat, setting her up for a third term in the United States Senate.
Memecoins DOGE and SHIB have outperformed on US election day as US citizens cast their ballots.
Bitcoin miners could be squeezed out by deep-pocketed tech giants that can outbid them for prime power sources.
The worst case scenario for risk assets including cryptocurrencies would be a delayed or contested election where the result is unknown for weeks, one observer noted.
Read more Solana has a reputation as a memecoin hub, but financial institutions are looking to build on the network.
Read more Up-to-the minute coverage on the presidential and congressional races and how they stand to shape crypto legislation and regulation from CoinDesk.
Read more Just this week, in the run-up to Election Day, some big finance projects were announced — suggesting no worries about the road ahead.
Read more Altcoins have lagged throughout the year amid regulatory uncertainty, and hence, K33 Research analysts said they are “more sensitive” to the election results.
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