Bloomberg: Trump stimulates cryptocurrency speculation, DOGE and other tokens outperform BTC

A range of small cryptocurrencies have outperformed Bitcoin in recent days as enthusiasm for the industry's prospects under President-elect Trump has sparked a wave of speculative bets. These include DOGE, which has risen about 50% in the past five days; the most eye-catching performance is ADA from the Cardano blockchain, which has risen more than 60% in the same period, which may be driven by the network's founder Charles Hoskinson discussing plans to work with Washington lawmakers in a podcast. In addition, tokens related to Polygon, Cosmos, Solana and Algorand have all outperformed Bitcoin's five-day gain of about 7% and hit all-time highs. Caroline Bowler, CEO of digital asset exchange BTC Markets Pty, said: "A rising tide lifts all boats, and the Bitcoin boom has quickly spread to altcoins; the entire industry is expected to be a net beneficiary of the Trump administration." (Bloomberg)