America

Donald Trump

Trump Mania

Pepe Trump

It was in America that the first presidential debate ever happened. The market for digital assets, and notably so-called “political” tokens, saw a surge of volatility after the incident.
Who made money by investing in coins associated with presidential candidates? We’ll tell you how the debate ended.
Has the debate been concluded? First debate between Joe Biden and Donald Trump, two US presidential candidates, was held in the US on the morning of June 28, 2024. By launching vicious attacks and accusations at one another, the two politicians fought for the attention of the viewers. As an example, Trump said that Biden’s economic policies were useless. In response, the sitting US president leveled accusations of political ineptitude and willful voter misinformation against his opponent.
The presidential candidates’ speeches were characterized by viewers as tense and disorganized. But now there is a distinct frontrunner in the political contest. We will discuss this in more detail later on, but this is supported by the betting market results.
The crypto context of Biden vs. Trump For the cryptocurrency community, the 2024 presidential campaign will be unique. A growing number of Americans are paying attention to the presidential candidate’s stance on cryptocurrency, especially in light of the industry’s meteoric rise in the US. That is why politicians have no choice but to court the crypto community for support. Take Donald Trump as an example; he went from being a vocal Bitcoin critic to now actively supporting the cryptocurrency. In a separate article, the editors of BeInCrypto discussed the politician’s transformation in greater depth.
Joe Biden, who had recently pushed for legislation to impose a 30% tax on miners, is now vying for the support of crypto enthusiasts as well. The politician was open to receiving cryptocurrency donations, for instance. The reaction from PolitiFi to the discussion Tokens linked to political figures have been unified by crypto community members into the PolitiFi group. Many coins linked to politicians had a strong reaction to the event, even though no politician mentioned cryptocurrency during the debate.
The dynamics of most PolitiFi coins were negative. For instance, Trump Mania has fallen 49% and Pepe Trump (PTRUMP) has fallen 58%. Still, some PolitiFi coin holders made a tidy profit. In just one day, the price of obema (OBEMA) increased by 25% and that of the MAGA PAPA token (ETH) by 132%. Tokens linked to Donald Trump were at the forefront of both expansion and contraction.
After only one day, PolitiFi tokens’ market cap dropped by over 5% on CoinGecko.
Bitcoin and other market leaders experienced a small uptick as the discussion came to a close. It would appear that Trump did better than his rival. The outcomes of the betting market prove this. Over the course of the debate, Trump solidified his stance. At the time this review was written, 58% of market participants were thinking he would win. The crypto community is rooting for Trump to win because he campaigned on a platform that included numerous pledges to help the crypto industry grow.
In case you forgot, earlier this week, the BeInCrypto editors investigated the potential effects of the 2024 US presidential election on the cryptocurrency market.

The response of the cryptocurrency market to the Trump-Biden discussion

Blocksays

Other articles published on Jun 28, 2024

MicroStrategy stock outpaces Bitcoin with 115% YTD surge

VanEck Ajukan ETF Solana Spot Pertama, Dunia Kripto Berguncang, Analis Prediksi Meluncur Tahun 2025

What is Virtual Space App?

Bitget adds Web3 Gaming and Education Platform Layer3 (L3) on Premarket

Trump’s Odds Soar to 64% After Biden Debate Performance

US Spot Bitcoin ETFs Draw $12 Million in Net Inflows Despite Reduced Pace

Join our free newsletter for daily crypto updates!