PANews reported on June 10 that OSL Global, the global trading platform under the OSL Group, announced the official launch of trading pairs for Ethena USDe (USDe) today. Users can now trade USDe/USD, USDe/USDT, and USDe/USDGO through over-the-counter (OTC) transactions, and deposits and withdrawals on the Ethereum network are now open.
USDe is a decentralized, crypto-native synthetic US dollar asset. Instead of relying on traditional fiat currency or bank deposits for value backing, this asset maintains a 1:1 peg to the US dollar through a "Delta-neutral" mechanism.
Janus Henderson, a $480 billion asset manager, made a strategic ENA investment, plans to use USDe for treasury cash management, and will explore regulated USDe and ENA products while distributing its tokenized CLO funds through Ethena.
Posted June 10, 2026 at 5:47 am EST.
Janus Henderson, a $480 billion asset manager, made a strategic investment in Ethena’s governance token ENA and plans to use USDe, Ethena’s yield-bearing synthetic dollar, as part of its treasury cash management strategy, according to a Tuesday announcement.
Under the agreement, the two firms will also explore offering USDe to Janus Henderson clients through exchange-traded investment products. In the other direction, Ethena will allocate and help distribute Janus Henderson’s tokenized funds of collateralized loan obligations, adding a new category of real-world asset to the protocol’s ecosystem. Ethena disclosed the partnership in a Tuesday X post.
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“We are really excited about the possibility here,” Nick Cherney, head of innovation at Janus Henderson Investors, told CoinDesk. “We believe very deeply that innovation in blockchain is being led by the DeFi community, and that we need to continue to forge partnerships with leading founders and protocols.” He added that Ethena has proven it is possible to innovate in the stablecoin arena even in current conditions.
The deal fits a broadening trend of traditional asset managers taking direct positions in DeFi governance tokens rather than allocating only through fund structures. Earlier this year, BlackRock expanded its tokenized money market fund through a Uniswap partnership and invested in the UNI token, while Apollo Global Management struck a deal with lending protocol Morpho and took a position in its governance token.
Last week, Coinbase Ventures disclosed its first Ethena investment and a partnership to bring Ethena products to Coinbase’s more than 100 million users. Ethena also expanded its relationship with Anchorage Digital to support institutional lending through the bank’s Atlas collateral platform.
Ethena has grown into one of the largest DeFi protocols by offering yield through USDe, which combines stablecoin demand with derivatives-based hedging. After reaching roughly $15 billion in assets during last year’s rally, the protocol currently manages about $5 billion as markets recover from a prolonged downturn. ENA jumped 5% immediately after the announcement before paring gains, and was down 8% over the prior 24 hours as broader crypto markets slid.
Related Listen: Bits + Bips: How the Dimon vs. Armstrong Clash Reveals Crypto at Peak Political Power
The first general debate of the 2024 US Presidential election concluded without a single mention of cryptocurrencies or Bitcoin. This silence, despite significant backing from crypto political action committees (PACs), sent shockwaves through the market.
As a result, politically themed (PolitiFi) meme coins took a substantial hit.
Coinbase Expresses Disappointment With the US Presidential DebateHeld in Atlanta, Georgia, the debate featured current President Joe Biden and former President Donald Trump. Moderated by CNN anchors Jake Tapper and Dana Bash, the 90-minute discussion spanned topics from the economy to foreign policy. However, it only briefly touched on economic issues and completely avoided technology policy, including the crypto sector.
Consequently, the crypto community, which had hoped for at least some acknowledgment from Trump, known for his crypto-friendly stance, was left disappointed.
After the debate, the total market capitalization of PolitiFi meme coins fell by 6.7%. Individual coins suffered even more; MAGA (TRUMP) dropped by 14.1% and MAGA Hat (MAGA) by 14.6%. Doland Tremp (TREMP) saw a decline of 15.3%, while Joe Biden-themed meme coin Jeo Boden (BODEN) plummeted by a staggering 32.5%.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Top PolitiFi Meme Coins. Source: CoinGeckoCoinbase, a major player in the crypto exchange market, expressed its disappointment shortly after the debate.
“The first presidential debate has just ended, and crypto has not been mentioned. With 52 million Americans and 19% of Georgians owning crypto, it’s time to make sure it’s part of the conversation going forward,” Coinbase stated.
In light of the debate’s oversight, Coinbase is now focusing its efforts on its PAC, Stand With Crypto, which has received over $87 million in donations.
Moreover, Coinbase supports the Fairshake Super PAC, to which it contributed an additional $25 million in June. Collectively, Fairshake and its affiliates have raised over $177 million this election cycle, including $70 million spent in support of pro-crypto candidates.
Despite the debate’s lack of discussion on crypto, Trump’s actions suggest a strong alignment with the crypto community. This may significantly influence his political prospects.
According to the prediction market Polymarket, the odds of Trump winning the 2024 Presidential election have increased. It now stands at 63%.
Odds of US Presidential Election Winner. Source: PolymarketEarlier this month, Trump reiterated his support for the crypto industry during meetings with executives from crypto miners like CleanSpark and Riot Platforms. He emphasized the importance of Bitcoin mining in stabilizing the energy grid.
“We want all the remaining Bitcoin to be made in the USA. It will help us be energy-dominant,” Trump declared.
Furthermore, Trump’s active engagement with the crypto community has been notable. At a recent Libertarian Party convention, he promised to commute Ross Ulbricht’s sentence and announced his campaign’s acceptance of crypto donations.
Read more: Who Are Cameron and Tyler Winklevoss? A Profile on the Twins
This proactive stance was highlighted during a fundraiser that attracted prominent figures like the Winklevoss twins and raised $12 million to support his campaign against Joe Biden.
A recent assassination attempt on former United States President Donald Trump during an election rally in western Pennsylvania has sent shockwaves through both political and financial spheres. The incident, which occurred on Saturday, involved a bullet grazing the upper part of Trump’s right ear. Despite the violence, Trump, known for his pro-crypto stance had a positive ripple effect on the crypto market, while Politifi Tokens showcased strong momentum.
Following the news, the Bitcoin price saw a near 2% increase, surpassing the $60,000 threshold after a week-long slump. Concurrently, the global cryptocurrency market capitalization escalated by 3% to stabilize at $2.33 trillion, with a significant 24-hour trading volume of $61.2 billion.
Amidst this political turmoil, Politifi Tokens provide a fresh buying opportunity. Trump’s speech at the upcoming Bitcoin 2024 conference is now expected to have a more profound impact on the market.
Also Read: Will Donald Trump Attack Set the Stage for Next Bitcoin Bull Run?
Politifi Tokens- MAGA (TRUMP) The MAGA (TRUMP) cryptocurrency, also known as MAGA Memecoin, is a satirical token inspired by former U.S. President Donald Trump’s famous campaign slogan, “Make America Great Again.”
MAGA (TRUMP)| Tradingview Amid the recent market upswing, the TRUMP price correction bottomed at $5 and rebounded utilizing an ascending trendline in daily charts. The dynamic support intact since March 2024 prevents the asset from a major correction and provides suitable accumulation points.
The bullish turnaround uplifted the MAGA Coin to $9.37 registering an 87% growth, while the market cap stands at $458.1 Million.
The rising price recently breached the downsloping trendline signaling the end-of-correction trend. The post-breakout rally can bolster buyers to rechallenge the high of $17.8.
Also Read: How Trump Meme Coins Reacted With Donald Trump Joining Bitcoin Conference?
Doland Tremp (TREMP) Doland Tremp (TREMP) is a meme coin that playfully references former U.S. President Donald Trump. This cryptocurrency is unique as it operates within the Solana blockchain ecosystem, emphasizing both humor and satire in its branding and operations.
Doland Tremp (TREMP)| Tradingview Over the past four months, the TREMP coin has witnessed a steady uptrend under the influence of a rising channel pattern. In theory, the technical setup drives a series of higher high and low formations resonating within two trendlines offering dynamic resistance and support.
On July 8th, this memecoin rebounded from the lower trendline elevating its value 56% to trade at $0.49 currently, while the market cap surged to $47.7 Million.
If the pattern holds true, the TREMP coin rises 320% to hit the upper boundary of the channel around $2.
Also Read: Trump Vs Biden Election Outcome Unlikely To Deter Bipartisan Support For Crypto
Super Trump (STRUMP) Super Trump (STRUMP) is a cryptocurrency designed to honor the political legacy of Donald Trump, promoting principles such as limited government and free-market economics through a decentralized platform.
Super Trump (STRUMP)| Tradingview Amid the June market correction, the STRUMP price showcased a sharp downfall from $0.031 to $0.0079 registering a loss of 74.6%. However, the pullback developed a well-known bullish continuation pattern called a flag. This chart setup offers counter-trend moves for buyers to recuperate its bullish momentum.
In the last 48 hours, the Super Trump token is up 48% and trades at $0.0121, while the market cap jumped to $28.19 Million.
This bullish recovery pierced the flag pattern resistance providing buyers with suitable support to resume a bullish rally.
Key Takeaway Following the recent attack on former U.S. President Donald Trump, the cryptocurrency market has seen a noticeable surge. Bitcoin has successfully reclaimed the $60k mark, and the majority of major altcoins are continuing their relief rally. Amidst this upward trend, Politifi Tokens have gained significant momentum, showing double-digit gains in the last 24 hours and attracting momentum buyers to the market.
The Trump themed coins sector is witnessing notable fluctuations following Joe Biden’s announcement that he will not contest the 2024 presidential election. Biden has been under pressure from fellow Democrats to reject his nomination and pave the way for another leader to the party’s flag against former President Donald Trump in the elections scheduled for November.
These cryptocurrencies, named Super Trump, Maga, and Doland Trump, are experiencing diverse market dynamics; some are appreciating, while others remain subdued. The trend highlights the increasing influence of U.S. political developments on investment decisions in the crypto space.
1. Trump Themed Coins – Super Trump (STRUMP) Super Trump (STRUMP) introduces an innovative cryptocurrency honoring Donald Trump, the 45th President of the United States. This digital asset aligns with his ideals of minimal government and maximum market liberty. STRUMP’s blockchain manages a significant sum of 2.6 billion tokens, integrating political allegiance with financial technology.
The financial framework of STRUMP allocates portions of transaction fees to a wallet specifically for Donald Trump. Other revenues support liquidity, token burns, and marketing efforts. Moreover, the platform offers staking and farming options, enhancing user involvement.
STRUMP is priced at $0.01547, having risen by 24% following news of Biden dropping out in the 2024 elections. Although it saw a minor decline of 0.60% today, its market cap is valued at $28 million, ranking it #715 on CoinMarketCap. With a remarkable 19% increase over the last month, STRUMP shows a promising trajectory for growth, with a trading volume reaching $4.58 million in the past 24 hours.
STRUMP Price Chart| Source: TradingView The 4-hour technical indicators for the Super Trump show a bullish sentiment in recent trading sessions. The Chaikin Money Flow (CMF) indicator has remained positive, registering a value of 0.37.
The Awesome Oscillator (AO) displayed a value of 0.001824. The AO presents a green bar in the latest session, signaling an increase in market momentum and potentially pointing towards a positive price movement ahead.
2. Maga (MAGA) Maga (MAGA), a cryptocurrency associated with the MAGA movement, is currently valued at $6.85. In the past day, one of the key Trump themed coins has seen a decline of 4%. The cryptocurrency ranks 217th by CoinMarketCap, with a market capitalization of $300 million. Since its introduction, MAGA has surged impressively by 41,405%.
MAGA price chart In recent weeks, its value has varied significantly, ranging between $8 and $5. A noticeable decrease in price occurred this week. This downturn coincided with a significant event involving an assassination attempt related to Trump and Biden. As the U.S. election draws closer, such politically-themed digital currencies are attracting more attention.
3. Doland Tremp (TREMP) Doland Tremp (TREMP) is another one of the popular Trump Themed Coins hosted on the Solana blockchain. Since its inception, it has captured the attention and the political humor-based community. This coin, humorously echoing a former U.S. president’s name, has soared by 269% following notable political events.
Recently, Trump Themed recorded a 5% increase on the day. The token hovers at $0.453. The trading volume has surged to $17 million over the last 24 hours. Presently, Doland Tremp stands at the 2579th position on CoinMarketCap, with a market capitalization of $19 million.
TREMP price chart: Source| TradingView The Relative Strength Index (RSI) is currently at 52, indicating that the asset is neither overbought nor oversold. Meanwhile, the Moving Average Convergence Divergence (MACD) is showing a slight bearish momentum, with its histogram plotting just below the zero line, suggesting a potential slowdown in bullish activity.
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Recent reports claim that Robert F. Kennedy Jr. will drop out of the US presidential race on Friday. The rumors have made PolitiFi tokens rise over 15% on the last day. While tokens inspired by RFK Jr. have plunged, Trump-themed memecoins took the lead with a 40% surge.
RFK Jr. To Dropout Of The Presidential Race During this cycle, memecoins have been at the front of the industry, becoming the largest narrative of the first two quarters. Due to the sector’s nature, crypto investors have immortalized the current event through these tokens, including the upcoming November US presidential elections.
A candidate’s crypto stance has become a key factor for voters after the Biden administration’s crackdown on the industry. As a result, pro-crypto candidates have received significant support from the community.
Robert F. Kennedy Jr. was among the first to share his industry-friendly approach throughout his campaign, endorsing Bitcoin and blockchain technology. However, recent reports claim the Independent candidate will drop out of the race on Friday.
According to ABC News, sources close to Kennedy claim that the presidential candidate will endorse former US president Donald Trump after dropping out. Trump embraced the industry this year and later started accepting donations of different cryptocurrencies.
Per the report, “One possible scenario being discussed is for Kennedy to appear on stage with Trump at an event in Phoenix on Friday.” Sources familiar to both candidates cautioned that nothing is finalized and “Kennedy’s thinking could always change.”
Nonetheless, the news comes days after the Independent candidate revealed he would not endorse US VP and Democratic candidate Kamala Harris.
Trump Memecoins Take The PolitiFi Lead PolitiFi tokens surged 15.5% in the last 24 hours, with the price of memecoins inspired by the former US president taking the lead. As the rumors of RFK Jr. endorsement hit, online reports revealed the republican candidate’s chances of winning the election rose again.
According to Polymarket’s 2024 Presidential Election Forecast, Trump’s chances rose to 54% after the news, with a 7% lead against Kamala Harris’ chances. Following the news, the largest Trump-themed token, MAGA (TRUMP), saw a massive increase.
TRUMP’s price has taken a hit since the end of July when it was trading above the $6 mark. The memecoin retraced below the $3 support zone following the August market crashes, registering a 41.5% drop in the last 30 days.
However, TRUMP skyrocketed 55.6% toward the $4.14 mark on Thursday. As of this writing the token is trading at $3.7, a 40% increase in the last 24 hours. Other memecoins inspired by the former US president also saw a significant surge.
After the news, Doland Tremp (TREMP), Super Trump (STRUMP), and MAGA Hat (MAGA) rose 16%, 25%, and 23% respectively. Meanwhile, the KAMA and KEIDY memecoins registered a 30% and 57% price drop in the last 24 hours.
MAGA (TRUMP) performance in the three-day chart. Source: TRUMPUSDT on Tradingview Featured Image from Unsplash.com, Chart from TradingView.com
Following the second Donald Trump assassination attempt, the former president reassured his supporters that he was “safe and well.” The FBI responded to the incident at West Palm Beach, Florida, where Trump was enjoying golfing at the Trump International Golf Club. A suspect has already been arrested and is in custody.
The incident happens just two months after another assassination attempt on Trump’s life during a rally in Pennsylvania. Like the first time, Trump emerged strong, reassuring his supporters that “Nothing will slow me down. I will NEVER SURRENDER! I will always love you for supporting me.” So, how are PolitiFi tokens doing after this?
Second Donald Trump Assassination Impacts Crypto Tokens Following the incident, Trump-based crypto tokens dropped in price. Even after showing strength, the token price remained in the negative, signaling that maybe the assassination attempts are an omen to his presidential bid come November. Can MAGA, TRUMP, and TREMP recover, and when will they recover?
Maga Hat (MAGA) Maga Hat is the second largest Trump-based token by market cap. Trading at $0.00006116, MAGA price took a 7.2% hit in the aftermath of the new Donald Trump assassination attempt, bringing it to a total of 32.5% loss in the last 7 days.
Nevertheless, the MAGA price chart shows relatively strong support at around $0.046, which has held the price up before. MAGA has a current market cap of $25 million and is only up 73% from its all-time low price. This presents a potential opportunity for investors to jump while it’s around the bottom.
MAGA (TRUMP) MAGA, the largest Trump meme coin, has taken a 12.2% hit. The price is sitting at $2.12 down from an all-time high price of $17.07, almost 87% down. Nevertheless, the earliest investors are still 184X in profit.
The TRUMP price chart shows the asset may continue dropping to find support at $1.2 before attempting a bounce. Below that, MAGA could drop to $0.40-$0.70, where there is relatively a stronger resistance-turned-support.
Doland Tremp (TREMP) Doland Tremp, with a small market cap of $12 million, shows promise for recovery. This is the third largest Trump parody coin by market cap, and at the current price of $0.1231, it has dropped only 2.9% over the past 24 hours.
Additionally, the price is hovering around a zone of strong support, tested three times over the last one month.
Although all of the tokens have fair chances of recovery, TREMP price has the highest chance of recovering sooner. If it bounces from this level, it may find resistance around $0.20 before surging higher to $0.55 and finally $0.8.
Conclusion Donald Trump assassination has affected crypto prices today mainly because of his recent pro-crypto stance. A win for Trump in the upcoming elections would be a win for the crypto industry. Donald Trump remains unshaken as the planned launch of his new crypto project, World Liberty Financial (WLFI), remains as scheduled.
Amid a low-volatility weekend, the Politifi tokens witnessed a sudden surge in activity following the speculation of a second debate between Vice President Kamala Harris and former president Donald Trump. The U.S. presidential election remains a critical focus for the crypto market, as the outcome could shape the future trajectory of digital assets.
PolitiFi Tokens Poised for Action Ahead of Harris-Trump Second Debate On Saturday, President Kamala Harris officially accepted CNN’s invitation to debate former President Donald Trump on October 23, 2024. In a recent tweet, Kamala added, “I will gladly accept a second presidential debate on October 23”, and I hope @realDonaldTrump will join me.”
As of now, Trump has yet to respond to the invitation, leaving pundits and political watchers awaiting his decision. However, if the debate is confirmed, the following Politifi tokens could showcase a massive movement.
MAGA (TRUMP) Inspired by former President Donald Trump’s “Make America Great Again” movement, the MAGA (TRUMP) asset tops our list of Politifi Tokens. In the last four months, the TRUMP price has witnessed a steady correction from $17.75 to $1.723— a 90.3% decrease— within the falling wedge pattern.
This chart setup could have two converging trend lines, which typically lead to a temporary before the asset provides a decisive breakout. The MAGA price currently trades at $1.72, and activity challenges the pattern’s overhead trendline.
A potential breakout will accelerate the bullish momentum and bolster buyers to chase a potential target of $7.4, followed by $11.5 high.
TRUM/PUSDT -1d Chart Doland Tremp (TREMP) Doland Tremp (TREMP) is a meme coin that launched on the Solana blockchain in late 2021 as a satirical parody of former U.S. President Donald Trump. As the U.S. Presidential race continues to heat up, the TREMP price has shifted its prevailing downtrend sideways, trying to stabilize above the $0.1 psychological level.
An analysis of the daily chart shows a consolidation trend between $0.21 and $0.1 level, which breaches the upside if Trump could better prove his vision for the crypto market in front of U.S. voters.
The potential breakout will strengthen the buyer’s grip over this asset and chase a target of $0.31, followed by $0.6.
TREMP/USD -1d Chart Kamala Horris (KAMA) Unlike the aforementioned PolitiFi Tokens, the Kamala Horris (KAMA) is a meme-based cryptocurrency launched on the Solana blockchain in May 2024, satirically inspired by U.S. Vice President Kamala Harris. With an intraday loss of 8%, the KAMA price retested the late August bottom support of $0.0048.
This horizontal support and a downsloping trendline in the daily chart show a descending triangle pattern formation. While this chart setup typically drives a prolonged correction trend, the price could pierce the overhead trend If Kamala Horris managed to captivate U.S. voters with her assertive debating skills.
The post-breakout rally could drive the KAMA price rally to $0.0019, followed by an extended rally to $0.026.
KAMA/USDT -1d Chart Conclusion:
The potential Harris-Trump faceoff is expected to cover a range of critical topics, including the economy, healthcare, and foreign policy. Should either candidate demonstrate clear dominance, their associated PolitiFi Tokens may experience a strong directional rally
Trump-based politiFi tokens rallied ahead of the United States election with some posting gains over 120% in the past 24 hours.
MAGA Hat (MAGA), MAGA (TRUMP), Doland Tremp (TREMP), Super Trump (STRUMP), TrumpCoin (DJT) and other meme coins themed around former U.S. president Donald Trump saw significant gains as the overall market cap of PolitFi coins rose 5.4% bringing it to over $685 million in valuation.
Meanwhile, Kamabla (KAMABLA) was the only meme coin spun around Vice President Kamala Harris to see a positive day. KAMABLA surged 32.7% over the past day with an intra-day high and low of $0.00078 and $0.00049 respectively.
Political meme coins gained traction as the hype around these tokens peaked with the Presidential elections set for Nov. 5, an event expected to shape the future of the crypto sector in the U.S. and globally.
Trump tokens took the lead despite narrowing odds of the former President winning across prediction platforms. Polymarket data shows Trump’s chances of winning have dropped from 66.9% seen on Oct. 30 to 56% when writing.
Meanwhile, Harris saw her chances rise from 33.5% to 44% reflecting a shifting market sentiment, as investors leaned towards the idea of an unpredictable outcome based on historical inaccuracies of polls during past election years.
Earlier on Nov. 3, the majority of Trump-themed meme coins faced a downturn following some agitated remarks made by Trump during the republican candidate’s Milwaukee rally. However, most of the tokens have since recovered and offset the past day’s losses.
Yet, based on the recent price action of these tokens it seems investors remain slightly biased towards Trump’s chances of returning to the white house.
DJT was up 129.1%, placing it as the leading gainer while Pepe (TRUMP) saw gains of over 124.3% over the past day. Other popular meme coins MAGA, TRUMPCOIN, STRUMP, MAGA Pepe (MAPE) and TREMP posted gains of 58.4%, 46.5%, 36.9%, 28.2% and 14.3% respectively.
Source: CoinGecko Trump has widely been regarded as a crypto-friendly president in recent years. He has pledged to launch a Bitcoin reserve for the U.S. aimed to curb the $35 trillion U.S. debt over the years ahead. He has also committed to making the U.S. ‘crypto capital of the planet.’
Price rallies around these cryptocurrencies are primarily driven by the hype surrounding elections and other political events, leading traders to classify them as ‘event coins.’ Tokens themed around each candidate are likely to surge based on election outcomes but are expected to pull back once the initial excitement fades.
However, some experts suggest that if these tokens develop tangible utility, they could eventually shed their meme coin status and gain a more stable footing in the market.
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Just hours away from the US presidential elections, PolitiFi tokens have seen a remarkable boost. The sector has experienced a nearly 10% surge in the last 24 hours, with Trump-themed memecoins leading the way. Following the recent performance, some investors forecast a massive rally for these tokens in the coming days.
Trump-Themed Memecoins See 30% Jump The PolitiFi sector gained popularity after several memecoins inspired by US politicians registered a massive performance earlier this year. Some tokens had their market capitalization break above the $100 million mark, with a couple still holding the feat.
Memecoins inspired by the former US President and Republican candidate Donald J. Trump have led the sector throughout his presidential campaign. The tokens recorded massive rallies this year, hitting their peak during Q2.
Cryptocurrencies like MAGA (TRUMP) and Doland Tremp (TREMP) hit the $17 and $1.5 marks, respectively, as their all-time high (ATH), fueled by Trump’s crypto-friendly statements. However, most of these cryptocurrencies have retraced significantly since June, pulling back over 70% in most cases.
Now that the elections are just hours away, the PolitiFi sector is soaring again, surging around 10% in the last 24 hours, while the crypto market sees a 1.5% retrace. Memecoins themed after Trump held their lead, registering green performance during the past day.
TRUMP has seen a 26% surge in the last 24 hours, trading above the $3.8 range. Meanwhile, MAGA Hat (MAGA) records a 32.6% price jump in the same timeframe, nearing a $90 million market cap earlier today.
MAGA’s daily trading activity has also increased nearly 30%, registering a $41.7 million trading volume on the last day.
PolitiFi Tokens In The Hands Of The Election The sector’s rally is seemingly fueled by the anticipation surrounding the elections. Notably, volatility is forecasted to peak in the following days as speculation about the election’s outcome increases.
Some investors believe the PolitiFi token’s rally will continue in the following days, with Trump-themed memecoins expected to skyrocket in case of Trump’s victory.
Just 10 hours before the election, the Republican candidate’s winning odds are considerably higher than the Democratic nominee, Kamala Harris. Polymarket’s live forecast shows that Trump leads the prediction market with a 15% gap.
Trump’s winning odds 10 hours before the presidential elections. Source: Polymarket Following the presidential debate, the former president lost ground to the US Vice President in early September. At the time, the Democratic nominee surpassed Trump’s winning odds by 4%. However, these have seen a significant retrace in the last month.
The Republican candidate regained his lead in October, recording a considerable 33% gap between his winning odds and Harris’. By the end of the month, Trump led the predictions market with a 66% chance of winning, which has now retraced to 57%.
Amid Trump’s winning odds, the memecoins inspired by the US VP have recorded a considerable decrease in the past day. Kamala Horris (KAMA), the largest Harris-inspired token, retraced nearly 25% in the last 24 hours, seeing a 34% decrease in daily trading activity.
TRUMP’s performance in the three-day chart. Source: TRUMPUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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In a recent report by Reuters, speculation has emerged regarding the possibility of President Joe Biden withdrawing from the race for the White House, leading to a surge in interest around the newly created Kamala Horris (KAMA) meme coin.
These developments have sparked intrigue in political circles and garnered attention within the cryptocurrency industry.
Biden’s Successor? According to seven senior sources from the Biden campaign, the White House, and the Democratic National Committee, discussions are underway about Vice President Kamala Harris potentially replacing President Biden as the Democratic nominee if he chooses not to pursue reelection.
This scenario would involve Harris inheriting the funds and campaign infrastructure established by the Biden campaign. With her high name recognition and favorable polling among Democrats, Harris is considered a strong alternative candidate.
The cryptocurrency market has also reacted to these speculations, with traders on the crypto-based prediction platform Polymarket witnessing a significant increase in the odds of VP Harris becoming the Democratic nominee.
VP Harris’ chances, according to crypto investors. Source: Polymarket The trading of stocks indicating a “yes” answer to Harris receiving the nomination jumped from as high as 43%, approaching Biden’s numbers, which amount to a 45% chance, according to voters, of completing the race to the White House.
Kamala Horris Skyrockets Amidst Political Buzz CoinGecko data further reveals the impact of these developments on the meme coin market. The Kamala Horris meme coin experienced an astronomical surge, soaring over 174% in the past 24 hours and an astonishing 1659% over the past two weeks.
Its trading price peaked at $0.01561, reflecting the growing interest and uncertainty surrounding the potential shift in the upcoming presidential election.
KAMA price performance over the past month. Source: CoinGecko In contrast, CoinGecko shows that Donald Trump’s parody meme coin, Doland Tremp (TREMP), faced a decline of over 43% in the past seven days, currently trading at $0.4868. However, TREMP still boasts a substantial market cap of $48 million, surpassing other political meme coins in the crypto space.
Conversely, President Biden’s parody meme coin, Jeo Boden (BODEN), witnessed a surge of over 22% in the past hour alone, demonstrating the frenzy among crypto investors in response to the evolving political landscape.
Nevertheless, BODEN experienced a 71% price drop in the past week, with its current trading price at $0.04533.
Ultimately, these developments hold implications for the political arena and the broader crypto industry. Former President Trump’s pro-crypto stance and emphasis on innovation have been juxtaposed with the regulatory challenges faced during the Biden administration.
The lack of a clear regulatory framework and enforcement actions brought by the US Securities and Exchange Commission (SEC) over the past years has raised concerns among industry participants, who argue that such actions may hinder growth and innovation in the nascent crypto space.
The daily chart shows that BTC’s price is trending downward. Source: BTCUSD on TradingView.com Meanwhile, Bitcoin (BTC), the leading cryptocurrency in the market, continues to exert its influence on the sentiment of top cryptocurrencies. Over the past 24 hours, BTC has experienced a modest decline of 3.4%, bringing its current value to $60,220.
Featured image from DALL-E, chart from TradingView.com
Kamala Harris themed memecoin gained approximately 250% in value on July 4. This surge occurred as President Joe Biden faced increasing pressure to withdraw from the presidential race following a poor debate against Donald Trump. According to Dex Screener, the Kamala Horris (KAMA) token, marketed with a poorly drawn caricature of the US Vice President and intentionally misspelled, saw its market value rise from $3.5 million during the June 27 debate to approximately $11.9 million.
What’s Happening in the Memecoin Space?Reuters reported on July 3, based on information from seven senior sources from Biden’s campaign, the White House, and the Democratic National Committee, that if Biden withdraws his re-election bid, Harris would be the best replacement option. Meanwhile, a similarly misspelled memecoin for President Biden, Jeo Boden (BODEN), has seen a 22% drop in the last 24 hours and a 73.4% drop over the past week, according to CoinGecko.
KAMA’s rise and BODEN’s decline followed the June 27 Biden-Trump debate. Analysts widely noted Biden’s weak debate performance, which sounded unsettling and at times seemed to lose his train of thought.
At 81, Biden is the oldest person to run for presidency. He attributed his performance in the Atlanta-hosted debate to being cold and jet-lagged, despite being in the same time zone the week before.
Notable Details in the US ElectionsVoters, media outlets, and Democratic lawmakers are pressuring Biden to withdraw amid growing concerns that he cannot defeat Trump in the November 5 election. FiveThirtyEight polls show Trump leading by 2.3 points. A July 3 poll by the New York Times and Siena College also shows Trump ahead and indicates that three-quarters of voters believe Biden is too old for a high-level position, a five-point increase since the debate.
This process followed a July 2 CNN poll where three-quarters of American voters said Democrats would have a better chance of winning if someone other than Biden were the candidate. According to a July 1 CBS News poll, nearly half of Democratic Party voters believe he should not be the party’s candidate. On the crypto prediction platform Polymarket, users increased the likelihood of Biden withdrawing from the race from 19% before the debate to 64%.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The cryptocurrency sphere introduces specialized tokens reflecting the ongoing US Presidential race. Notable among these are JEO BODEN (BODEN), Maga (MAGA), Super Trump (STRUMP), and Doland Tremp (TREMP). These coins are uniquely positioned altcoins to buy poised to capitalize on the current political fervor, offering promising investment avenues as the election draws near.
1. Altcoins to Buy – Jeo Boden (BODEN) Jeo Boden (BODEN), a cryptocurrency initiative built on the Solana meme coin, playfully alludes to President Biden with its vibrant, meme-centric approach. The coin’s website, which humorously employs Comic Sans, is awash with amusing memes, adding to its satirical charm.
Since its introduction, BODEN has seen a notable increase of 10%, fueled by the buzz surrounding the forthcoming U.S. Presidential elections and the growing popularity of meme tokens.
Jeo Boden price chart Jeo Boden value has risen by 5% in the past day, trading at $0.0349. Among the top Prime PolitiFi Altcoins recommended as the U.S. election approaches, it ranks 2570th on CoinMarketCap with a market cap of $23 million.
2. Maga (MAGA) Maga (MAGA), a cryptocurrency linked to the MAGA movement, currently holds the 218th position in global crypto rankings. It boasts a market capitalization of approximately $228 million. The trading landscape has fluctuated over the past week as investors adjust their strategies.
The trend for MAGA has recently turned bearish, although its price has exceeded $5. Currently, it is priced at $5.22, marking a 2% decline in the last 24 hours. Since its debut, MAGA price has skyrocketed by 31,405%, making it a prominent choice among politically-themed altcoins as the U.S. election approaches.
4. 5th Scape (5SCAPE) 5th scape offers innovations in both augmented reality (AR) and virtual reality (VR). Its goal is to completely rethink VR and AR technologies for optimal usability. 5thscape believes that everyone should have access to virtual reality, regardless of experience level. Its aim is to bring together the most intelligent people in the field. Furthermore, the company intends to produce AR gaming chairs and VR headsets. All of this will give 5th scape a monopoly on the market. The presale for 5th scape is almost complete. It has already raised $6,033,618. Its current price is $0.00327.
Buy Now
3. Super Trump (STRUMP) Super Trump (STRUMP), a cryptocurrency that aligns with former President Donald Trump’s ideals of minimal governmental oversight and strong economic liberty, has introduced itself into the market. This token, influenced by the 45th U.S. President, integrates political advocacy with technological innovation in blockchain.
STRUMP operates on a network with a massive supply of 2.6 billion coins. A portion of each transaction fee is allocated to a wallet dedicated to Donald Trump. The funds are also used for various purposes, including enhancing liquidity, burning tokens, and covering operational expenditures such as promotions and exchanges.
Offering a transaction volume of roughly $5 million over the last 24 hours and a market capitalization of $16 million, STRUMP currently trades at $0.009206, reflecting a 2% increase.
Positioned at number 819 on CoinMarketCap, the coin has experienced a staggering growth of 2546% over recent years. As the U.S. election approaches, STRUMP emerges as a leading political finance cryptocurrency, with potential forecasts suggesting further significant gains.
4. Doland Tremp (TREMP) Doland Tremp (TREMP), a cryptocurrency themed around political satire, is making waves on the Solana blockchain. This meme coin, often likened to the BODEN token, uses humor related to Donald Trump to engage its community. Recently, TREMP saw a dramatic surge of 258%, though it has since pulled back by 9% today.
TREMP price chart Currently, TREMP is trading at $0.4413, with a daily trading volume of $6.77 million. Despite today’s decline, its market capitalization stands strong at $43 million, placing it 2585th on CoinMarketCap. For those tracking meme coins, catching the next move of TREMP could yield significant returns.
Bottom Line As the election excitement builds, these politically themed cryptocurrencies might present lucrative opportunities. Each offers a unique take on the merging paths of politics and digital currency investments.
A Solana memecoin trader held more than $5 million in BODEN in early April.But they didn’t cash out until Monday, after the token’s value had plummeted more than 90%.It’s a vivid example of Solana’s volatile memecoin market.A crypto trader gave up on BODEN, the Solana-based Joe Biden-themed memecoin, after a rollercoaster ride that saw their holdings jump to more than $5 million from almost $227,000 — before crashing again.
The trader, whose identity isn’t known, sold 5.7 million BODEN tokens on Monday for a little more than $139,000, a 39% loss relative to their value when they were acquired, according to blockchain data reviewed by DL News.
But it’s a 97% loss compared with what the trader could have sold the tokens for on April 10, just a month after BODEN’s launch. That day, BODEN hit an all-time high and was briefly trading at around $0.95.
Perhaps most frustrating for the trader: BODEN has surged more than 100% since, as Biden, who’s seeking a second term as US president, digs in despite poor poll numbers and a catastrophic debate performance on June 27 that led to calls for him to drop out of the race.
“I am firmly committed to staying in this race, to running this race to the end, and to beating Donald Trump,” Biden wrote in a letter to congressional Democrats Monday morning.
Memecoin volatilityIt’s a vivid example of the volatility of memecoin markets, which have boomed on the Solana blockchain this year.
Memecoins are tokens inspired by internet memes and pop culture. Unlike some tokens, which function somewhat similar to shares in a publicly traded company, memecoins have no inherent value and trade entirely on hype.
Earlier this year, a flood of memecoins hit the market, many of them offensive and many featuring comical misspellings of politician and celebrity names.
In addition to Jeo Boden, which uses the BODEN ticker, there was “Doland Tremp” (Donald Trump), “Taylur” (one of several Taylor Swift-themed tokens), and Coinye West (Kanye West).
While memecoins are derided for being purely speculative — and, in many cases, outright scams — they hold sway among many crypto-savvy retail investors who believe the tokens are free from the influence of venture capital and the institutional investors that dominate other markets.
“Memecoins seem to be one of the last remaining opportunities in crypto for a normal person to go from zero to respectable [net worth] in a short period of time,” Jordan Fish, a crypto influencer better known as Cobie, wrote on X earlier this year.
Others aren’t so sure.
“It’s all super low-key exploitative and most brutal for the folks who ride in on the exuberance,” Taylor Monahan, a MetaMask security researcher, told DL News in April.
“They think they’re winning big, and then get absolutely destroyed. They’re the silent majority.”
BODEN tradersTake firetruck.sol, the BODEN trader who missed their opportunity at a $5 million fortune. (Firetruck.sol is the Solana-based domain name linked to the trader’s crypto wallet.)
On March 6, right after BODEN’s launch, they acquired 1.6 million tokens in three separate transactions within a span of 10 minutes. Those tokens were worth about $64,000 at the time.
Five hours later, they bought another 3.3 million tokens, worth about $132,000.
On March 11, they made their final major purchase, acquiring another 761,000 tokens, worth about $30,000.
BODEN tokens were worth about $0.04 at the time. By the end of the month, they would hit $0.34, and firetruck.sol’s holdings topped $1.9 million.
On April 4, BODEN doubled, hitting $0.70. On April 10, it would hit its all-time high, briefly trading just below $1 per token.
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Jeo Boden peaked in early April. Had firetruck.sol cashed out, they would have pocketed $5.4 million.
But they didn’t, and the token has declined steadily since. On May 1, it was trading at $0.43. On June 1, it was trading at $0.27. On July 1, $0.07. On Monday, they sold their BODEN at a price of less than $0.03 per token.
They’re now sitting on more than $4 million in crypto, most of it in stablecoins USDC and USDT.
But their memecoin holdings are still extensive: As of Tuesday, they were sitting on 69 “Gabin Noosom” tokens, named after Gavin Newsom, the California governor and rumoured 2028 presidential candidate; 69 “olen mosk” tokens, named after Tesla founder and X owner Elon Musk; and 10 “Jill Boden” tokens, named after the president’s wife, Jill Biden.
Their combined value? Almost $0.08.
Aleks Gilbert is DL News’ New York-based DeFi correspondent. Have a tip? You can reach him at [email protected].
Following the assassination attempt involving former President Donald Trump at a campaign rally in Pennsylvania, the Jeo Boden (BODEN)and Kamala Horris (KAMA) meme coins experienced significant price declines.
The tokens, which parody the names of President Joe Biden and Vice President Kamala Harris, went in the opposite direction price-wise compared to Trump meme coins.
BODEN plummeted by over 18% from its peak price after news that Trump was shot. According to CoinGecko data, the token’s price dropped from around $0.12 to $0.03 as investors fled the Biden-themed asset.
The PoliFi (political finance) sector has also seen a significant decline, with the CoinStats PoliFi index contracting by 11% in the last 24 hours. This downturn aligns with the approaching elections in the United States.
Traders and investors in the PoliFi space have shifted their focus to platforms like Polymarket, where the “Yes” shares in a contract asking if Biden will drop out of the race have topped 60%.
Over the past 14 days, BODEN has plummeted by more than 35%. This steep drop in BODEN’s price reflects the growing uncertainty surrounding Biden’s future as the Democratic nominee for the 2024 presidential election.
Election jitters: Kamala Horris (KAMA) meme coin dips 27% The KAMA meme coin surged in value following Biden’s lackluster debate performance. It has seen a 27% dip in the past 24 hours and a 36% decline over the past seven days.
Fundamental analysis shows that KAMA’s price has been influenced by growing doubts about President Biden’s re-election viability and the increasing chances of Vice President Kamala Harris becoming the Democratic nominee.
However, attention has now shifted to the TRUMP token, which boasts a larger market capitalization and higher trading volume than KAMA.
At the time of writing, Kamala Horris is trading at $0.0056, with a 24-hour trading volume of $1.4 million.
The volatility in the BODEN and KAMA tokens highlights the close correlation between political events and the performance of meme coins tied to specific candidates or political figures.
As the election approaches, the price trajectory of these tokens is likely to continue reflecting the shifting political landscape.
The recent announcement that President Joe Biden tested positive for COVID-19 has reverberated through political and crypto markets. In response, speculators on the decentralized betting platform Polymarket have drastically adjusted their forecasts regarding Biden’s political future,
Moreover, there has been a sharp decline in a Joe Biden-themed meme coin.
Jeo Boden Meme Coin Plummets, Kamala Horris Shoots UpToday, the odds of President Biden withdrawing from the presidential race surged to 69% on Polymarket. This marked shift accompanied Biden’s health revelation, along with a staggering $17 million in bets on this outcome.
“I tested positive for COVID-19 this afternoon, but I am feeling good and thank everyone for the well wishes. I will be isolated as I recover, and during this time, I will continue to work to get the job done for the American people,” Biden announced on X (Twitter).
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
The heightened speculation reflects concerns over his ability to continue campaigning, especially after Biden stated he would reconsider his run if medically advised due to a severe condition.
The impact of President Biden’s diagnosis extended into the crypto market, particularly affecting the Biden-themed meme coin, ‘Jeo Boden’ (BODEN). In the past 24 hours, BODEN’s value plummeted by nearly 25%. This downturn in value mirrors the broader uncertainties now overshadowing his re-election efforts.
Jeo Boden (BODEN) Price Performance. Source: BeInCryptoMeanwhile, Vice President Kamala Harris has experienced a surge in betting odds, surpassing Biden on Polymarket as the more likely Democratic candidate. In contrast, the Kamala Harris-themed meme coin, ‘Kamala Horris’ (KAMA), skyrocketed over 101% following the news of Biden’s COVID-19 diagnosis.
The market’s enthusiastic response to Harris’s improved odds suggests a growing belief among investors that she might lead the Democratic ticket.
Furthermore, this political and economic turbulence coincides with significant events affecting other key US political figures. Notably, former President Donald Trump’s chances of winning the next election climbed to 64% after an assassination attempt last Saturday.
Read more: 11 Top Solana Meme Coins to Watch in July 2024
US Presidential Election Winner Odds. Source: PolymarketDuring the incident, a bullet grazed Trump’s right ear, prompting an immediate response from Secret Service agents. Despite the ordeal, Trump’s defiant gesture to his supporters—a fist pump—appeared to enhance his image and electoral prospects
In the wake of President Joe Biden’s COVID-19 diagnosis, meme coins inspired by potential presidential successors have surged, while Biden-themed Jeo Boden (CRYPTO: BODEN) is down significantly.
Also Read: Solana Up 7% And Could Get To 50% Of Ethereum’s Valuation As ‘Most Liquid Election Proxy In Crypto,’ Trader Says
Why It Matters: The recent rally in meme coins inspired by potential Biden successors comes in the context of increasing speculation about the Democratic nominee for the 2024 Presidential election.
Amid rising political tensions as the election approaches, Polymarket revealed changing odds regarding Biden’s potential withdrawal from the race. Political analyst Mark Halperin also noted that Biden plans to announce withdrawal from nomination as early as Sunday.
These reports were based on insights from several top Democrats and close allies urging Biden to consider stepping down.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
Biden-Inspired ‘Jeo Boden’ Meme Coin May Become ‘First Popular Meme To Die’ After 95% Drop From Its Highs, Says Trader This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Joe Biden has bowed out of the presidential race.Vice President Kamala Harris has an 82% chance of becoming the Democratic nominee, according to a Polymarket bet.Political memecoins surged after Biden’s announcement.US President Joe Biden sent shockwaves through markets as he announced he will not run again for another four years in the White House.
“It is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term,” Biden said in a statement.
The president threw his support behind his Vice President Kamala Harris as his replacement.
Bitcoin dropped 2.3% to as low as $65,885 on the news in thin weekend trading, before recovering. It hovers at around $67,002 at about 7:45 pm in London.
Why the drop?
“It’s because there’s a higher chance of his replacement defeating Trump in November,” said analyst Noelle Acheson in a tweet. “That is less favourable for crypto overall.”
Doland Tremp, a memecoin based on candidate Doland Tremp, soared 30% to about 55 cents.
Jeo Boden, a play on the president’s name, plunged 59% to about one cent.
A token dubbed Kamala Horris skyrocketed 131%.
Trump has emerged as a crypto-friendly candidate this year as Gary Gensler’s Securities and Exchange Commission cracks down on the industry.
But Harris’ stance is harder to suss out. She has never taken an official stance towards crypto or commented on the industry.
Growing roleHowever, she has strong ties to the technology industry.
Political memecoins highlight the growing role of crypto in elections, with industry insiders betting on the outcome of the November vote to catapult Bitcoin to new heights.
The industry has poured millions into swaying politicos in Washington.
It seems to be working — politicians are warming to crypto and Congress has voted through sweeping pro-crypto policies.
Crypto electionBiden’s shock decision comes on the back of a tumultuous presidential race, filled with criminal convictions, a chaotic debate, crypto endorsements and an assassination attempt.
The race has also made crypto a key election issue.
In May, Trump positioned himself as a pro-crypto candidate, pivoting from his previous assertion that Bitcoin is “a scam against the dollar.”
The industry rallied behind the former president’s second attempt to recapture the White House.
Industry dynamos like the founders of tech venture capitalist giant a16z, and Messari founder Ryan Selkis have come out swinging for Trump.
Some have warned that Trump’s stance on immigration and tax cut could send inflation skyward, which would be bad for the price of Bitcoin.
Biden, on the other hand, was regarded as predominantly anti-crypto, although there were recent signs that he had warmed up to it before he withdrew his bid for a second term.
A wager on crypto-powered betting site Polymarket puts the odds of Harris as the Democratic nominee at 82%.
The bet gives runner-up, former first lady Michelle Obama, a 4% chance of bagging the nomination, even as the former First Lady has made no bid for the White House.
Eric Johansson is DL News’ News Editor. Got a tip? Email him at [email protected].
On Sunday, President Joe Biden announced his withdrawal from the 2024 Presidential race, causing Biden-themed meme coins to plummet. The decision had a huge impact on the meme coin market and prediction platforms like Polymarket.
Biden endorsed Vice President Kamala Harris to succeed him as the Democratic nominee.
Kamala Horris (KAMA) Meme Coin Continues to SurgePresident Biden addressed his departure on X (Twitter).
“My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term. My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump,” Biden stated.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Consequently, Polymarket saw significant activity. Some traders, who had anticipated Biden’s exit, realized substantial profits.
For instance, one trader earned a whopping 100x profit as news of Biden’s decision spread. Another saw a return of approximately $196,102 from an initial bet of $38,160 on Biden’s withdrawal.
However, not all traders experienced success; a user known as “AnonBidenBull” lost around $2 million by betting on Biden’s continued candidacy.
Moreover, Biden-themed meme coins, including those named after his family members, dropped more than 60%. The “Jeo Boden” (BODEN) token fell 60.11% within 24 hours of his announcement. This decline wiped nearly $10 million from its market cap, which had stood at about $15 million just days before.
Jeo Boden (BODEN) Price Prediction. Source: BeInCryptoIn contrast, tokens associated with Vice President Kamala Harris, such as the “Kamala Horris” (KAMA) token, surged 80% amidst speculations that she might be the next Democratic candidate.
This sharp market response highlights the speculative nature of meme coins, which often react strongly to news and public perceptions. Investors in these tokens face extreme risks, as their value can fluctuate wildly based on the political climate and news cycles.
Although Biden did not mention health reasons for his decision—despite recently contracting COVID-19—the political implications are clear. Now, the chances of Kamala Harris winning the US Presidential election have surged to 29%.
Read more: 11 Top Solana Meme Coins to Watch in July 2024
US Presidential Election Winner Odds. Source: PolymarketAccording to Polymarket data, Donald Trump continues to maintain his top position, with 64% odds of winning the election.
President Joe Biden's announcement not to seek reelection has caused ripple effects in betting markets and PoliFi meme coins.
What Happened: Polymarket trader ‘AnonBidenBull’ lost $2 million betting on the President to become the Democratic nominee for the 2024 election, winning the Presidential election and the popular vote.
On the other hand, popular Polymarket trader ‘Domer’ reported a profit of around $800,000 on betting Joe Biden to drop out of the race.
Yet another trader wagered $12,500 on Kamala Harris to become the 2024 Democratic nominee, seeing their position’s value skyrocket by over 6,000% to nearly $769,000. Polymarket currently estimates Harris’ odds at 79%.
Also Read: President Biden’s Exit Followed Nearly $80M In Wagers On Crypto Prediction Market Polymarket
Why It Matters: These incidents underscore the inherent risks associated with prediction markets like Polymarket, where outcomes are highly dependent on unpredictable political events. The recent surge in activity on Polymarket, particularly from crypto traders, indicates a growing interest in these markets, despite the risks.
Another trader highlighted this downtrend as "the very reason why you don’t want to hold memes that are too specific or tied to a particular." He suggested that unique and universal memes are a better option.
What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
Biden’s Odds Of Finishing Term Drop Sharply On Crypto Prediction Market, Coin Themed After President Bleeds 60% This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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The political landscape in the US has seen a significant development after President Joe Biden announced he was dropping out of the presidential rally. Following the news, the PolitiFi memecoin sector saw a major shift as Biden-themed tokens immediately plunged and Kamala Harris-inspired tokens soared.
Crypto Community Celebrates Biden’s Candidature Withdrawal The November elections have been a hot topic for the crypto industry. After years of a hostile and “overreaching” regulatory approach from the US government, politicians’ stance on cryptocurrencies has become a turning point for many voters.
On Sunday afternoon, US President Joe Biden announced he was stepping down as a Presidential Candidate for the upcoming elections. Biden detailed that he decided to focus on fulfilling his duties as president for the remainder of his term.
In another post, he endorsed vice-president Kamala Harris as the candidate for the Democratic party:
“Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats -It’s time to come together and beat Trump. Let’s do this.”
Following the announcement, industry figures like Artur Hayes and Justin Sun reacted online. The Tron founder replied to Biden’s X post, stating, “Goodbye Biden, crypto will last forever.”
Meanwhile, The BitMEX co-founder noted that Trump’s chances of winning would only increase if Harris is not the Democratic nominee. Hayes also said Trump will “smoke her like a Cuban” if she “actually becomes the nominee.”
The crypto community expressed mixed opinions, with some users sharing a bearish sentiment. Some believe that Trump’s chances of winning were clear against Biden but could significantly reduce depending on the Democratic nominee.
On the contrary, others seem to believe that Biden’s rejection of his nomination will be bullish for the crypto industry regardless of the nominee. Additionally, Polymarket reported that Republican candidate Donald Trump maintains a massive lead.
Presidential Election Winner prediction. Source: Polymarket on X Per the prediction market website, Trump has a 65% chance of winning the presidential election in November, with nearly $40 million bet in his favor.
A Change In PolitiFi Memecoin Leadership The PolitiFi memecoin sector saw a shakeout after the news. The price of Biden-inspired tokens started to drop immediately, with its leading token, Jeo Boden (BODEN), shredding nearly 60% of its price.
The memecoin went from trading at $0.025 to the $0.01 price range in half an hour. BODEN further plunged in the following hours, reaching the $0.0086 support zone. This performance represents a 65% and 73% decline in the last 24 hours and seven days.
The current price represents a 99.2% drop from its April all-time high (ATH) when it traded at $1.04. Additionally, the token saw a 66% market capitalization reduction since the announcement, going from $17.5 million to $5.99 million.
Nonetheless, Kamala Harris-inspired tokens surged in the last 24 hours. Kamala Horris (KAMA) was the largest gainer among PolitiFi tokens in the past day. KAMA went from hovering between the $0.011-$0.019 level to the $0.025 price range in two hours, soaring 150%.
The memecoin, launched in May, registers a 257% and 1,433% increase in the weekly and monthly timeframes. As of this writing, KAMA has retraced above the $0.015 mark, currently trading at $0.016.
Trump-inspired tokens also saw a significant upswing after Biden’s dropout. MAGA (TRUMP) rose 12% after the news, momentarily reaching the $7.75 resistance level. Meanwhile, MAGA Hat (MAGA), Super Trump (STRUMP), and Donald Tremp (TREMP) rose 13%, 33%, and 25%, respectively.
BODEN’s performance in the three-day chart. Source: BODENUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Home Altcoins Investors Loses Millions in Memecoin Gamble
A trader recently faced a substantial loss after investing in the Joe Biden-themed Jeo Boden (BODEN) token, a situation unfolding amid rising expectations for a potential memecoin season.
The anonymous trader saw nearly $8 million evaporate after swapping Jupiter (JUP) tokens for BODEN at its peak. According to crypto trader Toby, the investor’s BODEN holding has now plummeted by about 99%. Initially, the trader managed to sell only $12.5k worth of BODEN before the value dropped drastically.
Currently, the trader’s BODEN investment stands at roughly $85,000, with the wallet primarily holding BODEN (81%), USD Coin (14%), and Solana (3.7%). The wallet’s peak valuation of over $10.8 million in April has now decreased to around $219,000, according to CoinStats.
Biden-linked memecoins have seen a steep decline, falling over 60% since Biden withdrew from the 2024 presidential race.
In contrast, other memecoins are experiencing a surge. For example, Mogcoin (MOG), based on Ethereum, hit an all-time high on July 22, reaching a market cap of over $820 million.
This surge has fueled speculation among traders about an impending altcoin season, with many predicting new all-time highs for various cryptocurrencies. Memecoin trader Zack Ventura suggested that the market could be gearing up for the next phase of the bull cycle, indicating a potential memecoin season ahead.
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.
“Jeo Boden” is now 98.2% off an all-time high set three months ago, while “Kamala Horris” has rallied by 3,875% since May. Some political meme coins have market caps in the millions.
As if the crypto markets weren’t crazy enough, another surreal trend has gained huge ground in recent months: meme coins based on U.S. political candidates.
They’re often accompanied by surreal cartoon avatars of the person in question… and tend to spell their name wrong deliberately.
Following the seismic events of recent days, with Kamala Harris gaining enough support to secure the Democratic nomination after Joe Biden quit the race, these digital assets have been even more volatile than usual.
The likes of Kamala Horris (KAMA), “Jeo Biden” and “Donald Tremp” are rapidly changing in value as opportunistic traders try to navigate the crypto landscape — and figure out what’ll happen next.
KAMA, a Solana-based memecoin that’s inspired by the current Vice President, was initially launched on May 30 — and at the time, it had a value of just $0.0006.
KAMA max price chart, May 30 – July 27, 2024 | Source: CoinGecko Fast forward to now and it’s accelerated by a staggering 3,875% — breaking the $0.02 barrier with a fully diluted market valuation of $25.4 million.
This reflects Harris’s growing momentum as she steps up to face Trump in November’s race. According to her team, $100 million has been donated to the Harris campaign since launch, with a record-breaking $81 million coming in on the first day alone. Meanwhile, prediction markets are showing that her chances of victory in the fall are continuing to increase with every passing day.
As you might expect, given his crypto-friendly stance, the most valuable coins in the “PoliFi” meme coin movement all relate to Trump — and often include riffs on his long-running “Make America Great Again” slogan.
Top political meme coins | Source: CoinMarketCap But a lot of these Republican-centered coins have taken an almighty beating recently. The biggest token of all, TRUMP, still has a market cap of $279 million but has shed 20.6% of its value in a week.
Spare a thought for those who held Jeo Boden, too. BODEN is now languishing at $0.01171 after plunging more than 50% over the past seven days — with most of those losses occurring after Sunday’s sudden announcement. This meme coin set a new all-time high of $1.07 back in April, but it’s now down by over 98%. Given that President Biden will bow out of the political limelight when his one and only presidential term ends in January, this is an asset unlikely to recover.
It’s figures like these that show the sheer unpredictability and brutality of gaining exposure to political meme coins. Not only can it be difficult to cash in on profits because of low liquidity, but bearish downturns can be both swift and brutal.
BODEN 1-month price chart | Source: CoinGecko A dark trend Beyond betting on the runners and riders in the presidential race, and following their fortunes in the news cycle, there’s another worrying trend: tokens that are being established in the wake of misinformation that’s circulating online.
Earlier this week, unsubstantiated rumors were swirling that Joe Biden had died, with some of the accounts that shared these falsehoods attracting tens of thousands of reposts on X.
This has had a direct impact on the memecoins being launched through sites like Pump.fun — with the likes of BIDEAD and BIDONE hitting the market. One particularly crass digital asset has an avatar that appears to show Biden’s skeleton.
What’s going to happen next? It doesn’t take a world-class crypto trading analyst to deduce that the value of Biden-related memecoins will continue to plunge in value.
But it’s going to be interesting to see what Donald Trump’s imminent appearance at Bitcoin 2024 in Tennessee — scheduled for later today — will do to the likes of MAGA and TRUMP.
Bullish overtures about the future of the crypto market in Nashville could give some of these tokens a second wind.
Alternatively, it might end up being more of a “sell the fact” scenario — with interest in these tokens waning as soon as he steps off the stage.
With three-and-a-half months still to go until the U.S. heads to the ballot box, the rollercoaster ride concerning political meme coins shows no sign of abating soon.
And there’s little doubt that brand-new tokens will continue to emerge in response to developments on the campaign trail — such as the Democratic National Convention in August, a potential debate between Harris and Trump on television, and announcements related to who Harris’s VP pick might end up being.
Jeo Boden (CRYPTO: BODEN), the meme coin inspired by President Joe Biden, is down over 99% from its all-time highs, with one trader speculating it may have one last hooray left in the tank.
What Happened: Pseudonymous trader ChimpZoo on Tuesday pointed out that the enormous price drop from $1 to $0.01 has caught his attention. He tweeted, "There’s a real risk this coin goes to zero, but I believe there is a significant chance that we see a 5x-40x in price in the near future."
BODEN has lost 99% of its value from its all-time high at $1.08.
Also Read: Meet The Traders Who Lost $2M And $8M Betting On Biden And The ‘Jeo Boden’ Meme Coin
Despite acknowledging the risk of the coin going to zero, ChimpZoo discloses that he has "loaded a huge bag at these levels," indicating his confidence in the coin’s future performance.
Price Action: In the past 24 hours, BODEN is up 9%, trading just below one cent at the time of writing.
What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
Read Next:
Biden-Inspired BODEN Meme Coin Keeps Plummeting, But Harris, Newsom Coins Surge On Nominee Speculation Image created using artificial intelligence with Midjourney.
Market News and Data brought to you by Benzinga APIs
The Boden Token is a relatively new cryptocurrency that has captured the attention of traders and investors alike. With its unique positioning in the "memecoin season," it shows a blend of risk and opportunity. Currently, the Boden Token is valued at approximately $0.009781, making it an accessible option for those looking to enter the crypto market.
Recent fluctuations in its price reflect the dynamic nature of the cryptocurrency world. Despite a significant loss for some traders, the token continues to draw interest, showcasing its potential for future gains. Understanding Boden Token's movement patterns and market behavior can provide valuable insights for anyone interested in investing in this growing digital currency.
As the market evolves, so does the significance of tokens like Boden. With a circulating supply of over 690 million tokens and a market cap of approximately $6.74 million, it holds a notable place within its sector. Keeping an eye on its development and the trends surrounding it can help investors make informed decisions.
Understanding Boden TokenThe Jeo Boden token is an innovative cryptocurrency that operates within the larger world of digital currencies. It leverages current technology trends and is closely linked to the Solana network, which enhances its functionality and appeal.
What is Boden Token?The Jeo Boden Token, often represented as BODEN, is a memecoin that reflects modern political themes and community dynamics. It has emerged alongside other political-themed cryptocurrencies, like Doland Tremp. Boden aims to engage users not only in trading but also in creating and sharing memes, which captures current cultural moments. As of July 2024, its price is around $0.00978, and it has experienced fluctuations. The community behind Boden actively participates on platforms like X, promoting discussions and memes.
The Technology Behind Boden TokenBoden Token is built on advanced blockchain technology. It uses the same principles that power many cryptocurrencies, including Ethereum and Bitcoin, offering transparency and security. This token works with smart contracts that automate transactions, ensuring they are completed safely and efficiently. Additionally, Boden operates on decentralized exchanges, allowing users to trade without centralized control.
This technology enables quick transaction processing and low fees, making it attractive to users. The token's ecosystem also fosters rapid community engagement around digital culture, appealing to both investors and casual users.
Boden Token and Solana NetworkThe Boden Token operates on the Solana network, which is known for its speed and efficiency. Solana can process thousands of transactions per second, making it ideal for high-activity tokens like BODEN.
Through this network, users benefit from faster trades and lower transaction costs compared to other platforms. This connection enhances Boden’s functionality, making it a preferred choice for trading. Recently, Kraken, a well-known exchange, added Boden Token to its platform, further boosting its visibility and accessibility. Users can trade the token easily, contributing to its growing popularity in the crypto space.
Economic Aspects of Boden TokenThe economic aspects of Boden Token are vital for investors and traders. This includes examining its market cap, price fluctuations, historical performance, and the mechanisms that influence its supply.
Market Cap and Circulating SupplyAs of now, the fully diluted valuation (FDV) of Boden Token is estimated at $6,740,503, which suggests a maximum market cap based on 690,325,163 tokens. The circulating supply will influence the token's availability and value over time. Monitoring the circulating supply is crucial for understanding the token's inflationary or deflationary trends. A higher circulating supply, if not matched by demand, can lead to price drops. Conversely, if the demand rises with limited supply, the price may increase.
Investment in Boden TokenUnderstanding the investment potential of Boden Token involves looking closely at its market performance, trading volume, and the community around it. Investors should consider both the risks associated with this meme coin and the potential rewards it may offer.
Analyzing Boden Token's Investment PotentialThe Boden Token has attracted attention for its unique positioning as a political meme coin. The current price is around $0.009781, with a circulating supply of over 690 million tokens.
Trading Volume can vary greatly; today alone, approximately $1,949,128 were traded, indicating active interest. Over the past week, the token's price fluctuated between $0.0097 and $0.0159.
This volatility shows that investors may experience significant price movements. Its popularity, driven by a strong meme culture, can spark speculative investments, leading to dramatic price changes. As community engagement grows, so might the token's visibility and perceived value.
Risks and Rewards of Investing in Boden TokenInvesting in Boden Token comes with both rewards and risks.
Potential Rewards include the chance for high returns due to its speculative nature. Recent fluctuations showed a 39.4% increase in one day, highlighting its volatility.
On the flip side, the risks are substantial. As seen with a recent trader losing nearly $8 million, the market can be unpredictable. This highlights the danger of investing without a solid strategy. Investors should remain cautious and consider their risk tolerance carefully. It's best to stay informed about market trends and community sentiment to navigate potential downsides effectively.
Buying and Storing Boden TokenAcquiring and securely storing Boden tokens is essential for anyone looking to invest in this cryptocurrency. The process involves using reliable platforms for purchase and safe methods for storage. Here are the key aspects to consider.
How to Buy Boden TokenCentralized Exchanges: These platforms, like Kraken, allow users to trade easily with fiat currency or other cryptocurrencies. Investors need to create an account and complete any necessary verification steps.
Decentralized Exchanges: Users may also consider decentralized exchanges (DEXs) for
more privacy and control over their funds. They can trade directly from their wallets.
It's essential to check the current price on platforms like CoinGecko before making a purchase. This ensures that investors are aware of market fluctuations.
Crypto Exchanges Offering Boden TokenBoden tokens can be found on several popular exchanges. Here is a list of some of the options:
Kraken: A well-known centralized exchange with a reputation for security and compliance.
Uniswap: A popular DEX that allows users to swap tokens directly from their wallets.
Investors are advised to go through the listing on the exchange to confirm if Boden tokens are available. They must also be mindful of the trading fees and deposit options each exchange offers.
Storing Boden Token SafelyAfter purchase, storing Boden tokens securely is crucial. Here are two primary storage options:
Hot Wallets: These wallets are connected to the internet and offer convenience for trading but come with some risks. They are suitable for small amounts that investors may want to access frequently.
Cold Wallets: Cold storage options, like hardware wallets, provide better security by keeping tokens offline. This method is recommended for larger holdings.
Using a reputable wallet and enabling
extra security features, such as two-factor authentication, is highly advised. Following these guidelines can help ensure the safety of Boden tokens after acquisition.
Market Dynamics and TradingUnderstanding market dynamics is crucial for trading the Boden token. Key aspects like trading volume, real-time analysis, and liquidity play significant roles in how investors make decisions.
Understanding Trading VolumeTrading volume refers to the total number of tokens traded over a specific period. In the case of Jeo Boden, data on July 30, 2024, shows a 24-hour trading volume close to $2 million. This figure indicates the level of interest and activity in the market. High trading volume often implies strong investor interest, while low volume may suggest a lack of confidence.
Tracking changes in trading volume can help predict price movements. For instance, when trading volume increases alongside price changes, it often signals a trend. Monitoring this metric helps traders make informed decisions about entering or exiting positions.
Real-Time Market AnalysisReal-time market analysis provides updates on the current state of the Boden token. Prices can fluctuate rapidly, emphasizing the need for up-to-date information. As of today, the Boden token's live price is approximately $0.009781, reflecting a 3.8% decline in the last 24 hours.
Using tools like price charts and indicators helps traders understand market trends. They can identify patterns that indicate potential price movements. Keeping an eye on these real-time changes can minimize risks and enhance trading strategies.
Liquidity and Market DepthLiquidity measures how easily a token can be bought or sold without significantly affecting its price. The Boden token has sufficient liquidity, allowing for easy transactions. A lack of liquidity can lead to increased volatility, making it challenging to execute trades at desired prices.
Market depth refers to the number of buy and sell orders in the market. A healthy market depth indicates many buyers and sellers, contributing to price stability. Traders should assess both liquidity and market depth to understand better where and how to execute trades efficiently.
Legal and Regulatory ConsiderationsBoden Token operates within a complex legal and regulatory environment. It is essential to grasp how cryptocurrency regulations apply and understand the legal standing of Boden Token itself.
Compliance with Cryptocurrency RegulationsBoden Token must comply with various cryptocurrency regulations. These regulations differ by country and impact how tokens are issued, traded, and taxed. Many jurisdictions require businesses dealing with cryptocurrencies to register and follow anti-money laundering (AML) and know your customer (KYC) rules.
Organizations like the Financial Action Task Force (FATF) provide guidelines that strengthen regulatory frameworks. Compliance ensures that Boden Token maintains a reputable position in the market. Failure to comply can lead to legal penalties or restrictions on operations.
Key Compliance Areas:
AML (Anti-Money Laundering): Measures to prevent illegal money transfer.
KYC (Know Your Customer): Processes to verify customer identities.
Boden Token needs to monitor changes in regulations continuously. Keeping updated helps avoid potential legal issues and fosters trust among users.
Boden Token's Legal StandingThe legal standing of Boden Token is influenced by its structure and the jurisdictions in which it operates. Various countries classify cryptocurrencies differently, affecting how Boden Token is perceived and regulated. Some nations might classify it as a commodity, while others view it as a security.
This classification determines the required compliance measures, including registration and disclosures. Boden Token must provide clear information regarding its use, technology, and associated rights to users. Transparency promotes trust and security in transactions.
Legal Classification Considerations:
Classification as a commodity may minimize regulatory burdens.
Security designation often leads to stricter regulations and registration requirements.
Adapting to legal frameworks will be crucial. Boden Token must prioritize legal diligence to ensure safe and compliant operations in global markets.
Boden Token's Community and EcosystemBoden Token has developed a strong community and ecosystem that are essential for its growth. These elements contribute to its popularity, supporting both traders and investors. The interactions within the community and partnerships enhance its overall network.
Community Support and GrowthThe community around Boden Token is vibrant and engaged. It plays a crucial role in the token's development through active discussions on social media platforms. Members share insights, market trends, and trading strategies.
Many users participate in forums and chats, fostering a sense of belonging. This support helps new traders learn and thrive. As a result, Boden Token’s popularity has increased, attracting a diverse range of investors. Community-driven events, such as contests and learning sessions, further boost involvement and pride among holders.
Comparing Boden Token with Other CryptocurrenciesBoden Token, a relatively new entrant in the cryptocurrency market, has unique characteristics that set it apart from traditional cryptocurrencies and meme coins. Its market behavior and positioning against established names provide insight into its potential and challenges.
Boden Token vs. Meme CoinsBoden Token shares similarities with meme coins, which are often influenced by social media and community engagement. Like many meme coins, it is driven by community sentiment and speculative trading.
Market Position and CompetitorsBoden Token operates within a competitive market, facing established cryptocurrencies like Bitcoin and newer tokens on platforms like Solana. Bitcoin remains the leader due to its widespread adoption, security, and established market cap.
Competitor Landscape:
Market Cap: As of now, Boden Token has a market cap of approximately $6.74 million. In contrast, Bitcoin's market cap exceeds $1.3 trillion.
Platform Integration: Some cryptocurrencies on Solana offer faster transaction speeds and lower fees, which can pose a challenge to Boden’s growth.
Boden’s future will depend on how effectively it can carve out its niche while competing with these larger, well-established players.
Additional Resources and InformationReaders can find valuable insights and updates about the Boden token through various platforms. These resources provide real-time data, trading options, and community support to help users gain a better understanding of this cryptocurrency.
Where to Find More InformationCrypto Exchanges: Users can buy and sell Boden on
popular crypto exchanges. Major platforms such as
Binance and Coinbase may offer trading for BODEN, allowing users to view live prices and trading volumes.
Decentralized Exchanges: Platforms like Uniswap or PancakeSwap enable trading without an intermediary. This method allows users to exchange BODEN directly, often leading to better prices and reduced fees.
Market Tracking Websites: Websites such as CoinMarketCap and CoinGecko provide up-to-date price information, historical data, and market cap for BODEN.
Social Media and Forums: Engaging with communities on platforms like Reddit or Twitter can provide insights, news updates, and discussions about Boden.
Official Website and Whitepaper: The official Boden website contains crucial documents and details about the token's functionality, use cases, and governance. The whitepaper outlines the technology and vision guiding the project.
Using these resources can enhance knowledge and keep holders informed about market trends, potential partnerships, and future developments regarding the Boden token.
Frequently Asked QuestionsHow can one purchase Boden coin?Boden coin can be bought through various cryptocurrency exchanges. Users typically need to create an account on a trading platform that supports Boden coin and complete the necessary verification steps. After that, they can purchase the coin using other cryptocurrencies or fiat money.
What are the predictions for Boden coin price in the near future?Price predictions for Boden coin can vary based on market conditions and trends. Analysts often look at its trading volume and market sentiment to estimate future price movements. It is essential to follow expert analyses for the most accurate forecasts.
Where can I find discussions and opinions about Boden coin online?Online forums and social media platforms are popular places for discussing Boden coin. Websites dedicated to cryptocurrency discussions often have sections for users to share their insights and experiences. Following influencers and crypto analysts on social media can also provide valuable opinions.
What is the record high price of Boden coin?Boden coin achieved its all-time high price of $1.04 in April 2024. This milestone reflects significant interest and investment in the coin at that time.
At what price is Boden coin currently trading?As of the latest information, Boden coin is trading at $0.009781. It is important to check real-time data on cryptocurrency exchanges for the most current price.
The Joe Biden-inspired meme coin Boden (CRYPTO: BODEN) on Solana (CRYPTO: SOL) is showing signs of rebounding from recent lows, up over 75% on the day.
What Happened: According to data from DexScreener, Boden (BODEN) is currently trading at $0.011, with a market cap of $7.8 million.
The token has seen a 24-hour trading volume of $1.7 million, with buyers outpacing sellers in recent transactions.
“Uptober + October pre-election hype = $BODEN mooning,” pseudonymous crypto trader ChimpZoo tweeted, referencing the market’s seasonal bullish trend.
The trader has been vocal in his belief that the current hype cycle, combined with political momentum ahead of the U.S. elections, could catapult BODEN back to significant highs, rhetorically asking “Are you ready for $1?”
ChimpZoo further emphasized his stance, stating, “$1 TARGETS STILL ALIVE AND WELL.”
Despite losing over 99% of its value from its all-time high of $1.08 earlier this year, BODEN’s recent price movement has caught the attention of market participants.
ChimpZoo had previously acknowledged the coin’s risky nature but identified a buying opportunity in the steep price drop.
In an earlier tweet, he noted, “There's a real risk this coin goes to zero, but I believe there is a significant chance that we see a 5x-40x in price in the near future.”
ChimpZoo has openly disclosed that he has “loaded a huge bag at these levels,” demonstrating his confidence in the coin’s future performance.
Boden’s surge also coincides with increased activity and sentiment in the broader crypto market.
Also Read: Pay Taxes With Bitcoin? Ohio Senator Proposes Bill For Crypto Tax Payments, But There’s A Catch
Why It Matters: The history of BODEN has been turbulent, with previous stories highlighting the massive losses faced by traders due to its volatility.
In one instance, a trader reportedly saw their investment of $8 million in Boden dwindle down to just $85,000, highlighting the risks associated with meme coins tied to specific narratives.
Despite these cautionary tales, ChimpZoo remains bullish, attributing the latest rally to the upcoming election cycle and what he calls “BODENOMICS.”
The ongoing price action of Boden is indicative of the volatile nature of meme coins, particularly those intertwined with political events and figures.
With the U.S. presidential election looming and October’s historical market trends often favoring upward movements, traders like ChimpZoo are betting on another explosive rally.
The future of BODEN, however, remains uncertain, hinging on both market sentiment and the rapidly shifting dynamics in the world of cryptocurrency.
What’s Next: The current landscape and the implications for meme coins like BODEN will be key topics at Benzinga’s Future of Digital Assets event on Nov. 19.
Read Next:
The Dollar Is Weakening—Here’s Why That Could Be Good For Bitcoin: 10x Research Image created using artificial intelligence with Midjourney.
Market News and Data brought to you by Benzinga APIs
PANews reported on April 21 that, according to Jinshi, US President Trump's Super PAC raised $35.6 million in March, bringing his campaign cash reserves to $550 million. According to a disclosure filing by MAGA Inc. with the Federal Election Commission, longtime Republican donor Diane Hendricks—who spoke at the 2024 Republican National Convention—contributed the majority, donating $25 million. Venture capitalists Marc Andreessen and Ben Horowitz each donated $3 million. The California-based tribal organization Yocha Dehe Wintun Nation donated $2 million. A subsidiary of prison operator GEO Group Inc. (a federal contractor whose clients include Immigration and Customs Enforcement) donated $1 million.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Tucker Carlson’s on-air apology for misleading viewers into supporting Trump has unsettled his base, and the Polymarket contract on Trump publicly insulting Carlson by April 30 sits at 100% YES.
Carlson’s public expression of regret carries weight given his influence within the MAGA sphere. The market had already priced in a high likelihood before Carlson’s comments, but the latest remarks reinforce the probability. Trump has a well-documented pattern of responding to perceived disloyalty with public attacks.
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The situation points to potential rifts within Trump’s support network. Marjorie Taylor Greene has also shown signs of dissent. Trump’s history of public insults, often delivered via Truth Social or during rallies, suggests he might respond aggressively to Carlson’s contrition. Multiple sub-markets show the same certainty for a public insult by month-end.
The combined daily trading volume is currently at zero, meaning no new bets are being placed. Traders appear confident in their existing positions rather than actively trading on new developments. The absence of new trades also suggests that any movement in this market will come from direct actions or statements by Trump rather than speculative activity.
Carlson’s remarks could signal deeper problems for Trump as parts of the MAGA base grapple with contradictions posed by the ongoing US-Iran conflict, which some view as conflicting with “America First” principles. At 100% YES, a YES share pays out at 100¢, leaving no financial incentive for further speculation unless new developments change the picture.
Watch for direct responses from Trump, particularly on social media or at public events. His next public address or rally could be the catalyst, with any derogatory comments about Carlson likely cementing the current odds.
Get prediction market intelligence as a structured API feed. Early access waitlist.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
The White House has just lifted the veil: Donald Trump will indeed speak Saturday at the gala organized for holders of the TRUMP memecoin. An event as fascinating as it is controversial, mixing presidential power, crypto, and suspicions of conflicts of interest.
In brief The White House officially confirms Trump’s participation in the memecoin gala on April 25 at Mar-a-Lago. Only the 297 largest holders of the TRUMP token are invited, of which 29 enjoy private VIP access. Three Democratic senators denounce a possible ‘sale of access’ to the presidency. Trump at Mar-a-Lago, one speech, two agendas, a thousand questions It is now official. This Saturday April 25, 2026, Donald Trump will speak in front of a select group of investors gathered at his private residence in Mar-a-Lago, Florida.
Reuters confirmed Friday that the White House has approved his presence as the keynote speaker at the gala luncheon organized by the issuer of the official TRUMP memecoin.
Access to this event is anything but ordinary. Only the 297 largest holders of the TRUMP token in terms of accumulated rewards receive an invitation. Among them, the top 29 have an extra privilege: a private reception in the presence of the president himself. An ultra-closed circle, halfway between an investors’ club and a political lounge.
This is not the first event of its kind. A first dinner had already gathered token holders at a Trump golf club in May 2025, already triggering strong criticism. At the time, voices were raised condemning the use of the presidential office for personal enrichment. This time, the debate is back in full force.
It should be noted that a few weeks earlier, a White House official told Politico that Trump’s presence was not yet scheduled. The president had also announced his participation in the White House Correspondents’ Association dinner in Washington on the same day, a first since his return to power.
A token in free fall, a controversy on the rise Behind the displayed prestige, the numbers tell another story. The TRUMP memecoin trades today around $2.86, about 96% below its all-time high. The VIP entry price, once close to $3 million, has fallen to about $300,000, not out of generosity, but because the token itself has collapsed.
Yet, upon announcement of the event, the price jumped about 40%. A well-known Pavlovian reflex in the crypto ecosystem: the token rises at the announcement, then falls once the show is over. Experienced investors know: here timing matters more than conviction.
The market structure further weakens the prospects. More than 90% of the total supply is concentrated in a handful of wallets. A single massive sale can be enough to shake the price. The TRUMP token acts less like a classic investment and more like an access badge, a social marker for those who want to sit at the table of power.
This is precisely what Democratic senators Elizabeth Warren, Richard Blumenthal, and Adam Schiff denounce. In a letter addressed to Bill Zanker, the event organizer, they point out a practice they consider unacceptable: using the presidency to encourage the purchase of an asset from which Trump and his family directly receive transaction fees. According to them, promising access to the president to sell a memecoin crosses a clear ethical line.
The Mar-a-Lago gala crystallizes everything that divides America about crypto and power: fascination, speculation, and mixed suspicions. While the TRUMP token wavers and senators question, one question remains: how far can access to the White House be monetized? The answer will shape the future of crypto regulation in the United States for a long time.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
PANews reported on April 29th, citing Forbes, that Eric Trump, the second son of Donald Trump, touted his Bitcoin company, American Bitcoin, as a "money-printing machine," but it was actually an arbitrage tool exploiting MAGA investor sentiment. The company attracted investors through exaggerated advertising, leveraging the premium of the Trump brand to issue shares at inflated valuations, cashing out and then using the proceeds to buy Bitcoin, while ordinary investors suffered heavy losses. Since its IPO in September, the company has sold approximately 158 million shares, cashing out about $351 million, and purchasing Bitcoin worth approximately $390 million. The company claimed mining costs of approximately $58,000, but the actual total cost, including equipment depreciation, was approximately $90,000, higher than the current Bitcoin price. The company faces risks through its mining equipment financing agreements; if the Bitcoin price does not rebound, all the Bitcoin it mines could be used to pay for equipment. The company actually has only two full-time employees, and its stock price has fallen 92% from its peak, with estimated investor losses of approximately $500 million. Eric Trump's personal wealth increased from approximately $190 million to $280 million.
In response, Eric Trump stated on the X platform that "Forbes has become a political weapon and a disgrace to journalism." He stated that American Bitcoin, founded just over a year ago and listed for 7 months and 25 days, currently holds over 7,000 Bitcoins, making it the 16th largest publicly traded Bitcoin company globally, with nearly 90,000 mining rigs and a hashrate of 28 EH/s. In the fourth quarter, the company's Bitcoin holdings on its balance sheet increased by 58%, mining costs were discounted by 53% from market prices, and quarterly revenue reached $78.3 million, a 22% increase quarter-over-quarter. Eric Trump also urged readers to judge the source of information themselves.
Editor’s note: The story has been updated to include a response from Forbes.
American Bitcoin Corp. (NASDAQ:ABTC) co-founder Eric Trump lashed out on Tuesday at an article painting the firm as an “arbitrage play” targeting MAGA supporters.
Trump Brings Out The ‘China’ AngleIn an X post, Trump attributed the critical coverage to Forbes’ ownership by Hong Kong-based Integrated Whale Media Investments.
“Since being acquired by China, Forbes has become a political weapon and an embarrassment to journalism,” he said. “Educate yourselves as to the source of your information — in this case, China!”
Trump compared the current narrative to Forbes’ past reporting on his St. Jude Children’s Research Hospital fundraising, with some funds allegedly diverted to other charities linked to his family.
A Forbes spokesperson told Benzinga that they stand firmly behind their reporting. “It's not uncommon for subjects to challenge a story they don't like, but that does not change the accuracy of our work,” the media outlet said.
Trump Defends Firm’s Rising BTC HoldingsRegarding American Bitcoin, Trump highlighted the firm’s rise as the 16th largest corporate Bitcoin holder, with a 7,000 BTC treasury valued at $539 million.
“We have arguably climbed the ‘Top 100’ rankings faster than any company in the space and continue to aggressively mine and scale daily,” he said.
But Questions AriseTrump’s defense came in response to the report stating that the company burned $500 million in shareholder value since going public in September, while Trump’s personal wealth jumped from $190 million to $280 million.
The ABTC stock has tumbled 85% since its Wall Street debut. It's worth noting that despite the subpar performance, analysts have remained bullish on the stock. Roth Capital and H.C. Wainwright & Co. both initiated coverage of ABTC with a “Buy” rating and set a price target of $4.
Price Action: At the time of writing, BTC was exchanging hands at $76,556.90, down 0.09% over the last 24 hours, according to data from Benzinga Pro.
American Bitcoin shares surged 3.42% in overnight trading after closing 3.31% lower at $1.17 during Tuesday’s regular session. Year-to-date, the stock has collapsed 31.18%.
Benzinga’s Edge Stock Rankings show a weaker price trend in the medium- and long-term periods, but strong performance in the short term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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