Bitcoin prices moved higher Wednesday, trading above $6,500 for the first time since mid-October.
A single bitcoin BTCUSD, +1.04% was last changing hands at $6,523.57, up 1.3% since Tuesday at 5 p.m. Eastern Time on the Kraken exchange. The move higher in the world’s largest digital currency has dragged the market cap for all cryptocurrencies above $220 billion for the first time in a month, according to data from CoinMarketCap.
Tuesday’s midterms weren’t a complete nonevent for the crypto community. In Colorado, voters elected a pro-crypto and blockchain governor in Jared Polis. The Democrat has long campaigned for decentralized technology to help local business.
“As governor, I will ensure that Colorado explores the potential use of blockchain technology and works alongside the business community, policy experts, local communities, and Coloradans to build a robust economy for the future,” he wrote in a blockchain campaign paper.
What are altcoins and futures doing?
Altcoins, the collective group of coins other than bitcoin, are off to a mixed start Wednesday. cETHUSD, +0.33% was trading 1.5% higher at $219.05, Bitcoin Cash BCHUSD, -0.28% was up 2.8% at $630.80, Litecoin LTCUSD, -2.77% lost 0.2% to trade at $54.74 and XRP, XRPUSD, -1.95% was down 1.6% at 53 cents.