As an experienced financial analyst, I find the recent events surrounding the U.S. presidential election and the betting markets intriguing. The assassination attempt on former President Donald Trump during a campaign rally in Pennsylvania has significantly impacted the odds of his winning the upcoming election, as evidenced by the surge in his polling numbers on Polymarket.
Former U.S. President Donald Trump’s chances of winning the upcoming U.S. presidential election have reached an unprecedented peak based on wagers placed on the decentralized prediction market platform Polymarket, following a failed assassination attempt.
At a rally in Pennsylvania, Trump experienced an unfortunate incident involving gunfire. Subsequently, his likelihood of securing victory in the upcoming presidential election, as perdedicated on the Polymarket platform where wagers can be placed using cryptocurrency, jumped up by around 10 percentage points to approximately 70%.
The Secret Service representative verified that the Republican presidential candidate was unharmed following the occurrence, as detailed by The New York Times. During this incident, a suspect and an onlooker both lost their lives, the newspaper added.
After the incident, controversial depictions of Donald Trump, featuring a bleeding face and triumphant fist-pump, spread rapidly across social media platforms. Amidst ongoing debates in the public sphere about Biden’s stumbles and perceived vulnerabilities as the current president.
Appears he’s ok; pumping his first here. My lord, this is crazy
— @jason (@Jason) July 13, 2024
After the occurrence, meme tokens associated with Trump, such as “PoliFi” tokens, experienced a significant increase. For example, MAGA soared by 47% in just one day to reach $9.32, while TREMP grew by 22% to hit $0.4866, according to crypto.news’s latest data.
As an analyst, I’ve observed that while Dogecoin and its peers gained ground during the specified timeframe, BODEN, the meme coin inspired by President Joe Biden, experienced a 21% drop, reaching a value of $0.03181. Despite their popularity among those who speculate on election outcomes, it’s essential to note that these tokens do not provide any financial rewards to their holders if their associated candidates secure a victory.
Currently, Biden’s odds of securing the election on Polymarket stand at 16%.
Trump, set to deliver a speech at a Bitcoin event slated for later this month, has publicly expressed his intent to back Bitcoin if elected in the 2024 presidential election on November 5th.
Last month in Washington D.C., I made it clear that I am committed to shaping the future of Bitcoin within the United States. I will fiercely protect the right for individuals to hold and manage their own digital assets, preventing it from being dominated by foreign forces.
The Biden administration has never interfered with law-abiding crypto holders.
Trump has shown growing interest in cryptocurrencies since earning profits from selling NFT trading cards as digital assets in late May.
Additionally, he began receiving donations for his campaign in the forms of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) as digital currency options.
After a bullet barely missed former President Trump during his Pennsylvania rally, sending shocks through the nation, Bitcoin’s price surged past the $60,000 mark per unit. Earlier in March, it had dipped as low as $53,000. At the moment of this update, Bitcoin was being transacted at $59,970.
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2024-07-14 15:46