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24 Hour Crypto Recap: Market Overview and Events
The global crypto market cap rose 5.1% to $2.792 trillion over the past 24 hours. Bitcoin traded at $80,580.07, up 4.7% on the day and up 0.8% over the past week. Ethereum changed hands at $2,426.45, up 7.3% in 24 hours and up 5.1% over seven days. BNB rose 3.5% to $715.43 but remains down 3.8% weekly. XRP gained 4.3% to $1.31, up 0.7% over the week. Solana rose 4.8% to $96.66 and is still down 3.4% over seven days. The Dow rose 3.35% on Wednesday and the S&P 500 gained 1.55%. Democrats won control of both the Senate and the House. In Ohio, Democrat Sherrod Brown defeated Republican Jon Husted. According to Molly White of Citation Needed, the crypto industry spent more than $64 million against Brown, a record for a single race. White counted crypto and AI super PACs on the losing side in 9 of 12 decided competitive races. Bryan Steil, who chairs the House digital assets subcommittee, also lost his seat. The Digital Chamber said the current version of the Clarity Act expires when the 119th Congress ends on January 3, 2027. Eleanor Terrett reported that House Democrats are weighing a broader market structure bill that would give the SEC a larger oversight role. TRUMP fell 17.64% to $1.303 and WLFI dropped 8.14%. Trump Media shares fell 17% to a record low. Lookonchain said Trump Media moved 4,259 BTC, worth $343.67 million, to Crypto.com. Binance said about 98% of affected assets have been backfilled. It also expanded its proof-of-reserves snapshot from 10 tokens to 44.