As a seasoned crypto investor with a keen interest in political developments, I’ve witnessed my fair share of market reactions to unexpected news. The recent endorsement of Vice President Kamala Harris by President Joe Biden for the 2024 Democratic nomination has once again proven to be a significant catalyst in both prediction markets and the cryptocurrency space.
Vice President Kamala Harris has received the endorsement of President Joe Biden for the Democratic nomination in the 2024 U.S. presidential election following his announcement that he would not be seeking re-election.
Based on my extensive experience working in the financial industry and observing the rapidly evolving world of prediction markets and cryptocurrencies, I can confidently say that this endorsement has sparked a wave of excitement and activity in these spheres. The ripple effects have been palpable, with investors scrambling to place bets or invest in related assets. It’s an exhilarating time to be part of this dynamic landscape!
As a fellow Democrat, I’ve made the choice not to accept the nomination and instead devote all my efforts to completing my presidential duties until the end of my term. From the outset of my 2020 campaign, I selected Kamala Harris as my running mate, an decision that has proven to be truly exceptional.
— Joe Biden (@JoeBiden) July 21, 2024
Based on Dexscreener’s information, the value of Kamala Harris memecoin (KAMA) experienced a significant jump of 110.4% to begin with. However, it subsequently declined and now represents an increase of approximately 84%. The coin is currently priced at $0.01970 and has a market capitalization that equates to a fully diluted valuation of $19 million.
At present, information from prediction market platform Polymarket indicates a 31% probability of Harris securing the Democratic nomination, backed by over $20 million in wagers. In contrast, other prospective nominees have much lower chances: Michelle Obama at 2%, Gavin Newsom at 1%, and Hillary Clinton at 5%. Nevertheless, former president Donald Trump leads with a significant 63% likelihood.
As a researcher studying the cryptocurrency market, I’ve noticed that other political meme coins besides NOOSUM and BODEN also responded to recent news. Specifically, the value of NOOSUM coin dropped by 24% and is now priced at $0.0006687. Similarly, the BODEN coin experienced a decrease of 61%, now valued at $0.009168.
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2024-07-22 01:09