Memecoins
MAGA memecoin surges as Donald Trump’s chances of winning the presidency soar on Polymarket
Presidential candidate Donald Trump survived an assassination attempt over the weekend, sparking a surge in both memecoins and his chances of winning the 2024 election.
According to crypto betting site Polymarket, Trump currently has a 72% chance of winning the presidency, while Biden only has an 18% chance of victory.
Since the assassination attempt, Trump’s chances have improved dramatically.
Source: Polymarket
At the same time, MAGA (ASSET), the largest Trump-inspired memecoin project on the market, has risen 27% since the shooting and was as high as 81% at one point. TRUMP has since calmed down and is trading at $8.02 at the time of writing.
Once skeptical of cryptocurrencies, Trump has since turned to the technology, referrer He billed himself as the “president of crypto” and garnered support from much of the industry.
A recent survey by investment firm Paradigm find that Trump’s pro-crypto stance is helping to win over Republican voters, and that crypto and financial freedom were a priority for conservative voters in general in this election.
Trump himself is a cryptocurrency holder with a public wallet address holding nearly $10 million in digital assets.
According to Arkham, the blockchain “deanonymizer,” Trump’s Ethereum (ETH) wallet currently owns $9.85 million in cryptocurrency – his largest holding being TRUMP tokens that the project gifted him.
Towards the end of July, Trump is expected to attend the Bitcoin 2024 conference in Nashville, Tennessee, as a speaker for the event’s 20,000 attendees.
Independent presidential candidate Robert F. Kennedy Jr. will also speak at the conference alongside political commentator and comedian Russell Brand, ARK Invest CEO and Founder Cathie Wood, MicroStrategy Executive Chairman Michael Saylor, former intelligence contractor turned whistleblower Edward Snowden and incoming Miller Value Partners Chairman and CIO Bill Miller.
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Featured Image: Shutterstock/Sergey Nivens/Alexxxey