The
action
happened
amid
a
risk-on
day
with
the
Nasdaq
and
S&P
500
climbing
3%
and
2.5%,
respectively,
following
Trump’s
decisive
win
in
the
U.S.
elections.
Bettors
on
blockchain-based
prediction
venue
Polymarket
project
that
Republicans
are
poised
to
clinch
both
houses
of
Congress,
a
result
that
observers
see
as
even
more
bullish
for
the
crypto
industry.
“It’s
hard
to
think
how
the
election
outcome
could
have
landed
better
for
the
industry,
and
expectations
of
key
regulatory
improvements
are
likely
to
build
in
the
coming
months
and
quarters,”
David
Lawant,
head
of
research
at
crypto
prime
brokerage
FalconX,
said
in
a
Wednesday
report.
“Such
clarity
could
open
room
for
additional
crypto
ETF
products,
covering
the
main
crypto
assets
and
potentially
also
a
broader
crypto
index,
and
give
entrepreneurs
and
investors
more
comfort
in
U.S.
token
launches.”
However,
Lawant
warned
of
short-term
risks
in
the
meanwhile,
which
may
include
“last-minute
enforcement
actions
by
departing
officials.”