The debate between Donald Trump and Kamala Harris on September 10 led to significant changes in the cryptocurrency market. The primary focus was on the drop in Solana (SOL) and fluctuations in the memecoin market.
Market Reaction
Following the debate, SOL's price fell by 5.1%, from $137.90 to $130.84. This drop reflects uncertainty about Trump's chances of winning, even though he has been viewed as a friend to the crypto world. Some believed a Republican win might help things like approving a spot SOL ETF.
Fear and Greed Index Falls
The Fear & Greed Index also declined from 46.72 (neutral) to 31.6 (fearful), showing increased worry among investors.
Memecoin Changes
The debate impacted the PolitiFi memecoin market. The price of $TREMP, representing support for Trump, fell by 28%, from $0.19 to $0.135. Meanwhile, $KAMA, supporting Kamala Harris, increased by 34%, from $0.007 to $0.0094. Nonetheless, $KAMA's market cap is still smaller than $TREMP's.
Overall, the debate added elements of uncertainty and caused changes in the cryptocurrency market.
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