A MarketVector index of the bottom half of the largest 100 digital tokens has risen over 2x since Trump's November 5 election win, topping the 46% Bitcoin jump
Sidhartha Shukla / Bloomberg :
Context & Ripple Effects
The post-election crypto rally had already lifted Bitcoin past $89,000 and boosted crypto-linked equities, while XRP's market value surged into the top three tokens. This index result shows that gains were spreading beyond the largest, most established asset.
Bitcoin then crossed $100,000 amid demand and election-related momentum, but the MarketVector measure indicates the lower half of the top-100-token universe was moving even faster. That makes the rally a broader risk-on move within digital assets rather than a Bitcoin-only event.
First-order effects
- Tokens in MarketVector's lower-ranked top-100 basket immediately outperform Bitcoin, more than doubling since the election versus Bitcoin's 46% rise.
- The result shifts attention from Bitcoin's first move above $100,000 toward smaller listed tokens as the strongest segment of the post-election advance.
Second-order effects
- Fund managers and traders using crypto strategies have a clearer incentive to add smaller-token exposure, since the broad rally is producing returns beyond the benchmark asset.
- The dispersion raises the stakes for token-selection products and benchmarks such as MarketVector: Bitcoin alone becomes a less complete gauge of where post-election crypto risk appetite is concentrated.
Third-order effects
- If this breadth persists, crypto-market leadership could become less concentrated in Bitcoin and more dependent on rotating flows across large-cap altcoins and smaller top-100 assets.
- The later loss of momentum in Bitcoin's election-linked rally shows the counterweight: a broad advance in lower-ranked tokens can also leave the market more sensitive to reversals in risk appetite.
The trend: The post-election crypto rally is evolving from a Bitcoin-led move into a wider, higher-risk rotation across digital tokens.