As the US prepares for another round of debates, changes in the value of political tokens associated with Donald Trump and Kamala Harris are drawing the attention of analysts and investors.
Token Dynamics Ahead of Debates
MAGA, the largest Trump-themed coin, fell by 2.1% to trade at $3.38. It has risen by 6.3% in the last seven days, giving it a market cap of over $155 million. Doland Tremp surged by 40% in the last seven days, while Trumpcoin fell by over 4%. On the other hand, Kamala Harris token, KAMA, fell by 6.6%, bringing its valuation to over $8 million, making it the sixth-biggest coin in the world. The main catalyst for these political coins is the upcoming debate between Trump and Harris, which can impact the race. Latest polling data shows that the race remains extremely tight, and many undecided voters may pick a side after the debate.
Trump Leads in Predictions
According to the latest polls conducted by New York Times/Sienna and CBS News, Trump is leading nationally by one point, while in key swing states Harris is leading by one point, indicating almost equal chances. Polymarket, a popular prediction market, shows that Donald Trump has a 52% chance of winning the election. Another poll suggests that Harris will win the popular vote, as Democrats have done in the last few elections.
Token Surge After Debate with Biden
Many Trump-related tokens surged after the first debate between Trump and Joe Biden, held on June 27. During that debate, it became clear that Biden was likely to lose the election to Trump. The MAGA token rose by 18%, while MAGA Hat jumped by over 28%. Doland Tremp rose by 15%. These tokens then retreated when the market predicted that Democrats might nominate a younger candidate with a higher chance of winning. Most Trump tokens and other cryptocurrencies are likely to perform well if he wins the debate for two reasons. First, these meme coins are often driven by hype among market participants. Second, Trump is viewed positively in the crypto community. He owns cryptocurrencies worth over $5.76 million, has called for the government not to sell its Bitcoin holdings, and is supported by crypto enthusiasts like Elon Musk and Tyler Winklevoss.
The debate between Donald Trump and Kamala Harris could significantly impact both the election outcome and the market for political tokens. Attention to these assets remains high, and market participants continue to monitor developments.
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