Trump has vowed to impose sweeping tariffs on Mexico and other trading partners.
Part of BTC’s spike could be attributed to a $94 million liquidation of bearish or hedged bets against the asset, Coinglass veri shows, as Trump leads in early voting.
Associated Press has Trump leading the electoral map 101 to 71.
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.
Solana has a reputation as a memecoin hub, but financial institutions are looking to build on the network.
Up-to-the-minute coverage on the presidential and congressional races and how they stand to shape crypto legislation and regulation.
Just this week, in the run-up to Election Day, some big finance projects were announced — suggesting no worries about the road ahead.
Altcoins have lagged throughout the year amid regulatory uncertainty, and hence, K33 Research analysts said they are "more sensitive" to the election results.
The pilot was run as part of the Monetary Authority of Singapore's Project Guardian.
More than 1,000 memecoins related to the U.S. presidential election have been issued on Solana in the past 24 hours.