On September 9, 2025, Binance announced the listing of Ethena USDe (USDE), introducing new trading pairs USDE/USDC and USDE/USDT for its users, effective immediately. Users can also begin depositing USDE coins to their Binance accounts as of today. This move highlights Binance’s effort to provide diversified trading options to its global user base, thus enhancing liquidity on its platform.
Details on Ethena USDe’s Trading InitiationBinance will activate spot trading pairs for USDE on September 9, 2025, from 3:00 PM local time. Withdrawals will become available on September 10, 2025, starting at 3:00 PM. Impressively, the exchange has set the listing fee for USDE at zero BNB, further lowering the barrier for user transactions and engagement within the ecosystem.
Ethena USDe stands out as the largest non-fiat-backed dollar asset with a supply exceeding $12 billion. Backed by delta-hedged assets of cryptocurrencies like Bitcoin $62,426 and Ethereum $1,663, along with stablecoins, USDE holds its ground as the third-largest stablecoin pegged to the US dollar. This stature reflects its robustness and reliability in the stablecoin market.
The Ethena protocol boasts more than $14 billion in total locked value (TVL), a testament to its broad acceptance and trust amongst users. Through integrations with centralized exchanges and DeFi applications, the protocol successfully reaches a vast audience, establishing itself as a significant player in the crypto ecosystem.
Launch of the USDe Reward ProgramIn conjunction with the listing, Binance has announced a reward program for USDE holders. Accounts holding at least 0.01 USDE are eligible for regular rewards, encouraging user participation. The initial reward distribution is slated for the end of this month, with weekly distributions to follow.
Reward calculations will consider minimum USDE balances across Spot, Futures, Margin, and Funding accounts, including balances used as collateral. Daily balance recording times will be randomly determined, ensuring fairness. Detailed information regarding reward rates and Annual Percentage Rate (APR) will be provided by Binance in due course.
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.
Binance, one of the leading crypto exchanges (CEXs) has dropped big news. Apparently, it is listing Ethena USDe (USDE), a stablecoin that is growing fast in the crypto arena. Trading of the token opens today, September 9, 2025. Spot trading pairs USDE/USDC and USDE/USDT are expected to go live at 12:00 (UTC). So, why are traders closely keeping an eye on this USDe stablecoin listing?
A Smooth Ethena USDe (USDE), Launch With Zero Fees According to Binance’s announcement, Users are allowed to start depositing Ethena USDe (USDE) into their Binance accounts, ahead of the launch. Binance listed USDE without charging a fee, making the launch completely free. Withdrawals are expected to open a day later on September 10, although the leading crypto exchange noted the time may change, as it depends on network conditions.
Binance will list Ethena USDe (USDe).
More information 👉 https://t.co/xUrY0OAhLc pic.twitter.com/otHEZ4yHus
— Binance (@binance) September 9, 2025
What Makes USDe Stablecoin Stand Out USDE is not just a mere stablecoin. It is the largest-backed crypto asset that is not tied directly to any fiat reserves. With a circulating supply of around $12 billion, it is backed by a mix of delta-hedged cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and standard stablecoins.
With this model, USDE has managed to rise, becoming the third-largest USD-denominated digital asset in history. Ethena, its parent protocol, now boasts over $14 billion in total value locked (TVL), and has become a central player in top DeFi platforms and centralized exchanges.
Rewards for Holding USDE on Binance Users holding at least 0.01 USDE are eligible for a rewards program, a strategy Binance is using to encourage adoption. Every day, rewards will be calculated across Futures, Funding, Margin, and Spot accounts and paid out directly. To begin with, all rewards in September will be distributed as a lump sum at the end of the month. Thereafter, payouts will switch to weekly, starting in October.
Why Traders Are Watching Ethena USDe Binance Listing The listing of Ethena USDe (USDE) on Binance is drawing attention for good reasons. Compared to other stablecoins in history, the token has experienced quick growth. By arriving on one of the most trusted exchanges, it gains a massive new audience. For traders and investors, the USDE listing is not just another token listing, but an opportunity to get hold of one of the most talked-about crypto projects in DeFi right now.
Final Thoughts Will Ethena USDe keep building the momentum? While that question remains open, it is clear that its influence in the stablecoin market is only set to grow, with the backing of Binance.
Frequently Asked Questions (FAQs)
It’s a non-fiat backed stablecoin supported by BTC, ETH, and stablecoins, with over $12B in supply.
Trading opens on September 9, 2025, at 12:00 (UTC) with USDE/USDC and USDE/USDT pairs.
Yes. Holding at least 0.01 USDE earns rewards, with payouts starting September and weekly from October.
PANews reported on September 23 that according to official news from Ethena Labs, the total locked value (TVL) of its stablecoin products Ethena USDe and USDtb continued to grow and has now exceeded US$16 billion, setting a new historical high.
Earlier yesterday, it was reported that Binance launched the USDe rewards program with an annualized yield of up to 12% .
Author: PA一线
This content is for market information only and is not investment advice.
Key Takeaways Why is USDe still a risk despite the isolated Binance de-peg? The isolated de-peg triggered a broader contagion and can still happen without proper risk management.
Will the industry learn from Friday’s flash crash? It was a necessary stress test, sparking discussion among crypto leaders on the way forward.
OKX founder Star Xu has called for a reassessment of some of the risks that triggered the crypto crash on 10 October.
In a statement, Xu singled out Ethena’s USDe, adding that its de-pegging risk can cause market-wide contagion like the Friday bloodbath. As a result, it should be treated as a ‘tokenized hedge fund,’ not a stablecoin.
“It’s important to remind the market that USDe should not be viewed as a 1:1 pegged stablecoin — it’s a tokenized hedge fund.”
Although he is an early investor in Ethena, Xu believes that USDe isn’t designed to hold a hard peg to USD. Hence, robust risk controls are needed, or else everything could go bust in minutes.
“Treating USDe as a simple 1:1 stable asset could introduce systemic risks to the entire crypto industry in the future.”
Source: X A painful lesson for leveraged traders Xu’s statement was a response to a report by Ethena founder Guy Young. According to Young, last Friday’s USDe price dislocation was “not a true de-peg,” but an isolated case in Binance.
USDe is designed to track the U.S dollar. However, it de-pegged and dropped by 35% on the Binance exchange and took a while before regaining the peg.
The aftermath? Collateral swiftly fell below risk levels, triggering an escalated bloodbath for leveraged traders. It was a painful lesson on thin order books and microstructure. A whopping $19 billion worth of positions were wiped out in minutes – The largest in history, dwarfing the FTX collapse and the Covid events.
Altcoins dropped by over 90% and access to Binance fluctuated, blocking market makers (MM) from coming to the rescue (bringing liquidity to solve the depeg).
Haseeb Qureshi, Partner at VC Dragonfly, described the situation better. He equated it to a fire breakout, with MMs as firefighters.
“It’s like a fire broke out on Binance, but all of the roads were blocked and firefighters couldn’t make their way in. This caused a wildfire to break out on Binance, but pretty much everywhere else.”
On-chain venues like Hyperliquid reacted with ruthless efficiency via auto-deleveraging (ADL). Positions were forcefully closed at punitive rates to ensure the platform is free from debt.
At the time of writing, Binance had repaid over $280M to victims during the USDe de-peg. Especially traders that had coin margins (Who set USDe, and other coins as collateral).
That being said, ENA recovered by over 10% like the rest of the market, with key players betting on further recovery. However, the overall market sentiment was still red at press time – A sign of short-term market caution.
TLDREthena Targets Growth After Years of Steady Team SizeNew Products Poised to Match USDe in ScopeGet 3 Free Stock Ebooks Ethena is expanding its team by approximately 50 percent with 10 new job openings. The new hires will support the development of two upcoming products expected to match USDe in scale. The company has maintained a team size of around 20 to 25 members for the last two years. Roles include positions in backend engineering, DeFi, trading, product design, and security. The new products are expected to launch within the next three months. Ethena plans a major hiring round to support its upcoming product launches and team growth. The company aims to expand its team by 50%, targeting about 10 new roles. These positions will focus on engineering, security, and business development.
Ethena Targets Growth After Years of Steady Team Size Ethena has operated with a lean team of 20–25 contributors over the past two years, according to co-founder Guy Young. However, the company now seeks to increase its workforce meaningfully to support two new product lines. Young stated,
“We are expanding the team meaningfully for the first time with 10 new roles.”
The team’s growth will help accelerate development and scale new offerings expected to match USDe in impact. Ethena’s hiring push includes roles in backend engineering, DeFi, trading, and product design. This move comes as the platform prepares to introduce two new stablecoin-related products within the next three months.
Ethena has stayed roughly flat at ~20-25 contributors for the last 2 years.
We are expanding the team meaningfully for the first time with 10 new roles across engineering and product for two entirely new business lines and products launching in the next ~3 months.
Both of these…
— G | Ethena (@gdog97_) October 20, 2025
These new roles reflect Ethena’s commitment to advancing its product suite while maintaining strong development capabilities. The company emphasizes engineering talent and product expertise to drive both innovation and security. Ethena’s job board also lists a head of security and a business development associate.
New Products Poised to Match USDe in Scope Ethena plans to launch two major products designed to complement its current stablecoins, USDe and USDtb. Young noted both initiatives “have the potential to be the size of USDe.” These products are expected to go live in the next quarter.
The upcoming launches represent the largest product expansion since Ethena introduced its USDe synthetic dollar. The company also supports USDtb, which extends its stablecoin offering and utility across platforms. Ethena will continue focusing on product-led growth in the stablecoin market.
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)
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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.
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According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
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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 synthetic stablecoin’s market capitalization has shed over $5 billion in just three and a half weeks.
Ethena Labs’ synthetic dollar-pegged token Ethena USDe (USDE) has lost over $5 billion of its market capitalization since the Oct. 10 market crash, after the asset experienced a major stress test.
Before the “Black Friday” flash crash — which wiped out over $19 billion in leveraged positions across the market, becoming the largest liquidation event in crypto to date — USDE’s market cap stood above $14.6 billion.
Ethen USDe's market cap fell sharply by about $2 billion on Oct. 10-11 as investors rushed to redeem their USDE, exchanging their tokens for the underlying collateral. According to Ethena Labs’ documentation, each USDE redemption burns the returned USDE, which can reduce the overall token supply, and thus the market capitalization.
As Blockworks analysts noted in an Oct. 15 Ethena governance forum post, “approximately $1.9 billion in USDe redemptions were processed between the 10th and the 11th of October.” The analysts added that the large redemption volume was processed quickly, noting Ethena’s mechanism showed “extreme resilience”:
“While it [redemption volume] was for $1.6B in a single day and $1.9B in the two days before and after the crash, it is likely realistic to consider that the bulk of this redemption happened in less than a few hours.”Ethena USDe lost another $3 billion in market cap over the rest of October, reaching about $9.2 billion at press time.
Ethena USDe market cap in October. Source: CoinGeckoThe Binance Flash-Crash The nearly 40% drop in market cap is the sharpest one since Ethena USDe’s launch in late 2023. While it’s hard to say what the exact reasons for the massive redemptions are, the token did come under increased scrutiny after Oct. 10, when its price on crypto's largest centralized exchange (CEX) Binance briefly plunged to about $0.65.
As The Defiant reported earlier, USDE's dramatic price crash below $1 on Binance — which didn’t occur on other platforms — led to a wave of liquidations on the CEX, resulting in widespread criticism of Binance’s pricing oracle setup. Notably, on Curve Finance and other decentralized protocols, USDE’s price stayed close to its $1 peg during the market volatility.
In a blog post on Oct. 12, Binance distanced itself from those accusations, saying instead that the exchange’s core futures and spot matching engines and API trading “remained operational” during the crash.
Sam MacPherson, CEO and co-founder of Phoenix Labs, suggested in an X post on Nov. 2 that part of USDe’s decline could also be linked to excessive leverage, noting that the token had become “over-leveraged at 15 billion.”
“As I said the more organic size for USDe is around 6-7b and so when the market turns it was always going to reflexively drop to the organic size," MacPherson wrote.
The Defiant reached out to Ethena Labs for comment on the shift, but hasn’t heard back by press time.
As The Defiant reported earlier, in late September, USDE deposits on Binance surged to reach $735 million just a day after the CEX began offering 12% APR on USDE via its Binance Earn product.
Crypto markets are showing signs of strain as several key measures of capital flow turn negative. Recent data points to a broad cooling of demand across Bitcoin ETFs, stablecoins, and corporate treasury activity. And as expected, this trend has raised concerns that the rally’s core drivers have stalled.
In brief Spot Bitcoin ETFs see billions in outflows as redemptions accelerate and demand cools across major investment products. Stablecoin supply contracts for the first time in months, with USDE losing nearly half its circulating supply after October’s shock. Corporate DAT structures flip from premiums to discounts, pushing firms from BTC accumulation toward selling assets or buybacks. October’s $19B liquidation event set off a feedback loop that continues to pressure prices despite large institutional purchases. Spot Bitcoin ETFs Shed Billions as Stablecoin Supply Falls Across the Market According to NYDIG’s latest report, the current pressure is tied less to sentiment and more to structural changes that began in early October. Persistent outflows from spot Bitcoin ETFs have become one of the most notable shifts in market behavior this year. These products, which absorbed billions in the first half of 2024, are now experiencing steady redemptions.
Data from SoSoValue shows that November outflows reached $3.55 billion, just shy of the $3.56 billion record set in February. Weekly figures tell a similar story, with about $1.2 billion leaving the market over just seven days—one of the sharpest retreats since these products went live.
A harsh 24-hour window on Thursday saw more than $900 million pulled out as Bitcoin fell to $81,000, its lowest point since April.
Stablecoin activity mirrors the downturn. Total supply has declined for the first time in months after the Oct. 10 liquidation shock. USDE, once a rapidly growing algorithmic token, has lost nearly half its supply.
Greg Cipolaro, global head of research at NYDIG, said the rapid contraction in USDE signals that money is leaving the system altogether, especially after the token fell to $0.65 on Binance during the selloff.
Outflows Deepen as DAT Structures Reverse and Stablecoin Supply Falls Corporate treasury activity tied to DAT share premiums is also unwinding. Earlier in the year, many firms issued shares to accumulate Bitcoin when share prices traded above net asset value.
With those premiums gone—and in some cases turning to discounts—several companies have reversed course. Sequans recently sold BTC to reduce debt, which shows how quickly these structures can shift when market conditions change.
The report cites several key mechanical pressures:
ETF redemptions are replacing earlier inflows. Contraction in stablecoin supply indicating capital exit. USDE’s supply drop is reducing liquidity in trading pairs DAT structures are shifting from premium to discount. Firms are moving from BTC accumulation to asset sales or buybacks. Large purchases by Strategy and El Salvador during Bitcoin’s slide toward $84,000 offered little support. Cipolaro said the inability of significant buys to slow the decline suggests that deeper forces are at work. He noted that the Oct. 10, $19 billion liquidation event set off a feedback loop that continues to pressure prices as mechanisms that once supported the rally now work in reverse.
Cipolaro cautioned that investors should prepare for near-term volatility, even as longer-term views remain intact. Market cycles often repeat familiar patterns, and current conditions point to another uneven stretch ahead. Still, he maintains that long-term conviction carries weight, even as capital outflows reshape the short-term outlook.
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James G.
James Godstime is a crypto journalist and market analyst with over three years of experience in crypto, Web3, and finance. He simplifies complex and technical ideas to engage readers. Outside of work, he enjoys football and tennis, which he follows passionately.
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.
Stablecoins are proliferating. Almost every week, a new initiative arises in the crypto-sphere. Their promise? Stability backed by the US dollar, but blockchain-style. While the United States multiplies economic fronts, these digital tokens backed by (more or less) solid reserves present themselves as the new guardians of digital financial balance. And what if, behind this explosion of stablecoins, there was a geopolitical asset? Or, to put it more bluntly: are stablecoins a golden parachute for the dollar?
In brief JupUSD is backed 90% by the BUIDL fund via USDtb, and 10% in USDC. Jupiter unifies its crypto products around a native stablecoin usable everywhere on Solana. Ethena Labs orchestrates the JupUSD reserve, with transparent management and traceable on-chain flows. The approach appeals to institutions and traders: a home stablecoin becomes a strategic liquidity lever. JupUSD: the Trojan horse of the dollar in the DeFi universe Jupiter, one of the DeFi locomotives on Solana, has just pulled out JupUSD, a native stablecoin of its ecosystem. The main ingredient of this new recipe? BlackRock’s BUIDL fund, via the USDtb stablecoin. 90% of JupUSD’s reserves are backed by this regulated asset, the rest being in USDC to guarantee immediate liquidity via Meteora.
The JupUSD token was designed as an SPL token, Solana’s native standard, with a clear intention: “to unify the user experience” across all bricks of the Jupiter ecosystem. From perpetuals to market prediction, including mobile and limit orders, everything aligns around the home digital dollar.
Transparency? It materializes through institutional custody ensured by Porto (via Anchorage Digital), with multiple audits before launch. Jupiter emphasizes this point:
JupUSD was designed with a security-centered approach. This implies institutional-level self-custody ensured via Porto by Anchorage Digital. Furthermore, the source code is fully open source, with three independent audits conducted by Offside Labs, Guardian Audits, and Pashov Audit Group before launch.
Ethena Labs: the craftsman of the JupUSD stablecoin mechanisms Behind the facade of JupUSD lies Ethena Labs, a discreet but strategic player. They orchestrate reserve operations, flow management, and asset allocation. Their expertise has already been proven with USDe and USDtb. For JupUSD, Ethena uses distinct and public on-chain addresses, ensuring traceability of operations.
The goal is clear: to create a stable token that is resilient, flexible, and productive. Thanks to Jupiter Lend, users can deposit their JupUSD and receive jlJupUSD, a token offering unique promotional rewards, in addition to classical lending gains. This strategy incentivizes long-term holding and strengthens liquidity.
Ethena doesn’t hide its ambitions:
We believe that JupUSD will demonstrate how protocols, by mastering the economics of their stablecoin integrations, can: 1. make their products more efficient, 2. increase the value redistributed to their ecosystem and their users.
Crypto and digital dollar: towards a backstage war of stablecoins? The multiplication of so-called “native” stablecoins seems to be turning into a global strategy. MetaMask, Klarna, SoFi, Hyperliquid… all want their own dollar-parity token. Why rely on a USDT or USDC when you can hold the key to your own liquidity?
At Jupiter, the narrative is clear: it is about unifying dollar liquidity across the entire infrastructure. Result: 500 million dollars in USDC will gradually migrate to JupUSD, notably in the Jupiter Perps pool.
And this trend appeals beyond individual traders. Institutions can strike or buy JupUSD at any time via single transactions on Solana, with capacities published in advance.
The current dynamic shows that every DeFi player wants to control their flows, margins, and currency. Decentralization no longer excludes hyper-integration. Perhaps this is the real turning point of the crypto industry: no longer depending on the stablecoin “sacred cows.”
Some key figures and facts 90% of JupUSD reserves are in USDtb, backed by BlackRock’s BUIDL fund; 500 million dollars of USDC are in the process of being converted to JupUSD; JUP, Jupiter’s native token, soared 18% in one week; JupUSD is an SPL token, natively compatible with the entire Solana ecosystem; The global stablecoin market is worth about 308 billion dollars. As the year closes, USD1, the stablecoin supported by Donald Trump, surpasses 3 billion dollars in market capitalization. Another piece in the American digital monetary puzzle. While the world wonders who will dominate the next era of the crypto-dollar, some have already placed their tokens.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
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Upbit, one of South Korea’s leading cryptocurrency exchanges, has announced new trading support for USDe (Ethena USDe), a digital asset developed by Ethereum.
According to the announcement, USDe will begin trading in KRW, BTC, and USDT pairs. Trading support is scheduled to open on January 14th at 6 PM, while deposits will begin approximately 1.5 hours after the announcement is published.
Upbit emphasized that USDe transactions will only be supported via the Ethereum network, warning that transfers from other networks will not be accepted. Users were also advised to carefully check the official smart contract address designated for USDe before making any transfer.
To ensure a smooth start to trading, some temporary restrictions will be implemented after listing. Accordingly, buy orders will not be accepted for the first approximately 5 minutes. During the same period, sell orders below 10% of the previous day’s closing price will also be blocked. Furthermore, only limit orders will be allowed for approximately 2 hours following the opening of trading.
Ethereum USDe stands out as a synthetic stablecoin built on a delta-neutral structure, unlike classic fiat-backed stablecoins. USDe aims to balance price fluctuations by holding crypto assets like ETH and BTC as collateral while taking short positions in futures contracts of the same nominal value. Through this structure, USDe aims to provide value stability close to $1 against market volatility.
Developed by Ethereum, this model is supported by automated risk management, custody solutions, and reserve mechanisms that balance funding costs. USDe is expected to see increased use as a collateral instrument in DeFi applications, on-chain payments, and derivatives markets.
*This is not investment advice.
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On January 6, 2026, Kraken formalized a major partnership with Ethena Labs. The American exchange becomes one of the institutional custodians of assets backed by USDe, the synthetic dollar that rose to be among the three largest stablecoins in the world. This selection, validated by the Ethena Risk Committee (ERC), marks a decisive step in the institutionalization strategy of the DeFi protocol.
Why this partnership is significant USDe is not a classic stablecoin. Unlike USDT or USDC backed by fiat reserves, it is based on a delta-neutral strategy combining long positions on crypto assets (ETH, BTC, stETH) and equivalent short positions on derivatives markets. This complex architecture requires custody infrastructure adapted to intensive operational flows.
Kraken Custody meets these requirements. Operated by Kraken Financial, a special purpose depository institution (SPDI) chartered bank of Wyoming, the service offers cold storage with total asset segregation. Funds held for Ethena are kept one to one, in isolated vaults protected from custodian bankruptcy risk – a crucial requirement for DeFi protocols managing several billion dollars.
Guy Young, founder of Ethena, explained the logic of this choice in the official statement: Kraken’s selection reflects the Risk Committee’s commitment to evolving USDe on infrastructures meeting institutional expectations. The depth of the US regulatory framework, operational controls, and Kraken’s security architecture correspond to the standards defined by the protocol.
A rigorous selection by the Risk Committee The Ethena Risk Committee is an independent body elected by the DAO governance. Its role: to assess and validate every decision likely to affect the protocol’s risk profile. For January 2026, its members notably include Blockworks Advisory, Kairos Research, Llama Risk, and Steakhouse Financial.
To integrate new custodians, the committee applies a 50-criteria evaluation process structured in three areas. Security and custody operations account for 40% of the final score, with a minimum of 8/10. Operational capacity represents 30% (minimum 7/10). Protocol requirements complete the evaluation at 30% (threshold 8/10). Any candidate with a history of customer fund losses or availability under 99.9% is automatically excluded.
Kraken thus joins Copper and Ceffu, Ethena’s historic custodians specialized in off-exchange settlement of derivative positions. Unlike them, Kraken will focus on custody of reserve stablecoins: USDT, USDC, PYUSD, USDtb, and yield-bearing tokens deployed on Aave.
Kraken Custody’s security architecture Kraken’s value proposition is based on multiple layers of protection. The infrastructure combines hardware security modules (HSM) and multi-party computation (MPC) for managing private keys. The internal cybersecurity teams oversee the entire system.
Gurpreet Oberoi, head of Kraken Institutional, highlighted that this partnership demonstrates the exchange’s ability to manage complex institutional workflows while maintaining high standards of security and compliance. Kraken Financial’s regulated structure offers institutional clients an environment comparable to traditional finance standards.
The service currently supports over 200 digital assets and targets a wide range of institutional clients: listed companies, venture capital funds, asset managers, and hedge funds. In 2025, Kraken expanded its geographic coverage to the UK, Australia, and the European Economic Area through obtaining a MiCA license from the Central Bank of Ireland.
Enhanced transparency starting January 2026 The agreement foresees Kraken Custody’s participation in Ethena’s transparency mechanisms. Practically, this translates to monthly signed attestations and weekly Proof of Reserves reports published as of January 2026.
This requirement is part of a broader trend. Since the passage of the GENIUS Act in July 2025 in the United States, stablecoin issuers face increased obligations regarding reserves, audits, and financial integrity. Although USDe is a synthetic dollar and not a fiat-backed stablecoin (thus technically outside the direct scope of the law), Ethena voluntarily adopts these good practices to reassure institutional investors.
The protocol also demonstrated the robustness of its infrastructure during the Bybit hack in February 2025. Approximately 30 million dollars of latent gains were exposed on the exchange at the time of the incident. Thanks to the separation between custody (handled by Copper) and trading, no reserve assets were compromised. Only unsettled P&L required handling, with no impact on users.
Context: USDe facing a turbulent period This infrastructure strengthening comes as USDe goes through a correction phase. After peaking at nearly 15 billion dollars in TVL in October 2025 – making Ethena the fastest protocol in history to reach 10 billion capitalization for a stablecoin – metrics have significantly declined.
In January 2026, TVL dropped back to around 6.5 billion dollars, a 55% decrease over three months. Capital outflows exceeded 8 billion dollars during this period, reflecting an allocation adjustment amid less favorable funding rates and increased competition with other protocols like Sky ex MakerDAO.
USDe’s capitalization remains around 6.47 billion dollars, maintaining its position as the third-largest stablecoin globally behind Tether (USDT) and Circle (USDC). The ENA token shows marked volatility with a price fluctuating around $0.18 to $0.22.
What this means for users For holders of USDe and sUSDe (the staked version generating yield), adding Kraken as custodian brings several concrete guarantees.
Diversification of counterparty risks reduces exposure to a potential default of a single custodian. Kraken Financial’s bankruptcy-remote structure means Ethena’s assets are legally protected from the exchange’s creditors in case of distress.
Frequency of attestations (weekly for Proof of Reserves) allows near real-time monitoring of the adequacy between circulating USDe and reserve assets. This visibility is essential for a synthetic stablecoin whose hedging mechanism relies on derivative instruments.
Finally, Kraken Financial’s American regulatory anchoring can facilitate USDe’s access to certain institutional markets still hesitant about offshore or unregulated custody solutions.
What is Ethena's USDe? USDe is a synthetic dollar built on Ethereum. Unlike traditional stablecoins backed by fiat reserves, it maintains its peg through a delta-neutral strategy combining long crypto asset positions and short derivative contracts.
Why did Ethena choose Kraken Custody? The Ethena Risk Committee selected Kraken after an evaluation based on 50 criteria covering security, operational capabilities, and protocol requirements. Kraken Financial’s regulated structure (Wyoming chartered bank) and its segregated cold storage architecture meet the sought institutional standards.
What are the risks of USDe? The main risks include volatility of funding rates in derivative markets, counterparty risk on exchanges used for hedging, and potential vulnerabilities of smart contracts. Ethena’s reserve fund aims to absorb periods of negative funding.
Is USDe affected by the GENIUS Act? USDe, as a synthetic dollar not backed by fiat reserves, does not fall directly within the scope of the GENIUS Act which targets payment stablecoins. However, Ethena voluntarily adopts transparency practices aligned with these standards.
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Veera has officially introduced its Ethena USDe Vault, and this is a new move in generating yield-generating opportunities for users of stablecoins. Stated in a social media post, the live vault will enable the USDe, Ethena synthetic dollar, to work directly in the onchain neobank system of Veera. The merger enhances the positioning of Veera as a platform aimed at earning, investing, borrowing, and spending digital assets in a single interface.
Bringing USDe to Veera’s Onchain Neobank USDe is an artificial dollar created by Ethena Labs and supported by delta-neutral trades in Bitcoin, Ethereum and other key crypto-assets. Instead of using conventional fiat reserves only, USDe adopts hedged measures that aim at ensuring the price remains constant and yields. USDe has also been launched on Veera, and the user is able to deploy and receive returns generated according to perpetual funding rates, as well as stablecoin rewards.
Veera views the launch as a means to put idle stablecoins to work, as it is part of its bigger vision of a global neobank being entirely onchain. The site will make it easy to follow sophisticated crypto investment plans without necessarily having to manually coordinate them.
Yield Generated From Market Mechanics The new vault allows the generation of yields due to the use of perpetual futures funding rates, which entail trader paying or receiving fees based on their positioning in the market. Delta-neutral approach by Ethena aims at attracting these funding payments and minimizing the exposure to the price swings. Together with the payments in the form of stablecoins, the vault provides a different source of yield as opposed to the conventional lending or staking products.
This strategy can be seen as a trend in the increasing field of decentralized finance, where protocols are interested in sustainable yield models not wholly based on token emission. With the introduction of the Ethena framework, Veera will offer users the ability to access returns that are influenced by the dynamics in the market instead of short-term incentives.
Strengthening the Veera Ecosystem The USDe Vault launch is based on Veera’s desire by Veera to become a full-fledged onchain financial platform. Being promoted as a worldwide neobank, Veera enables its users to gain interest, invest in decentralized assets, lend on assets, and spend finances in one ecosystem. The Ethena assimilation builds an additional level to this production by aiding a stablecoin that is geared towards yield efficacy.
Veera has already announced that it has raised up to 10 million dollars in capital and it is supported by companies like 6th Man Ventures, Sigma VC, Folius Ventures, Cypher Capital, among others. This has provided the platform with the capacity to further speed up product development and integrate a variety of integrations in decentralized finance.
Ethena Expands USDe Utility In the case of Ethena Labs, the launch of vaults constitutes the further growth of USDe utility in the real world and in DeFi. Ethena makes USDe look like Internet Money, with the focus on scalability and generation of returns without compromising dollar stability. Such integrations as Veera enhance the distribution patterns of USDe and strengthen the role of USDe in decentralized financial infrastructure.
Collaborating with systems centered on the user experience and accessibility, Ethena plans to make their synthetic dollar more accessible to all participants of the DeFi and to new users who want to obtain passive yields.
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With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
Panama City, Panama--(Newsfile Corp. - January 30, 2026) - HTX, a leading global cryptocurrency exchange, today announced the listing of USDe (Ethena USDe), a widely adopted synthetic dollar stable, which further expands the platform's robust stablecoin offerings. USDe/USDT spot trading and USDe/USDT (10X) isolated margin trading is now available to users on HTX.
USDe is a synthetic dollar stablecoin issued by Ethena, designed to provide a decentralized and scalable alternative to traditional flat-backed stablecoins. It maintains its 1:1 peg to the U.S. dollar through a unique mechanism combining ETH staking yields and delta-neutral hedging strategies.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of "Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance," HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
To learn more about HTX, please visit https://www.htx.com/ or HTX Square. For further inquiries, please contact [email protected].
October 2025 will remain etched in crypto history as one of the most chaotic months. As markets collapsed, the USDe stablecoin lost its peg on Binance, triggering a massive wave of liquidations. Changpeng Zhao (CZ), founder of Binance, categorically rejected all responsibility. Yet, questions persist: did Binance worsen the crisis?
In brief The October 2025 crypto crash caused 19 billion dollars in liquidations, with the USDe stablecoin falling to $0.65 on Binance. Malfunctions of Binance’s internal oracle and a lack of transparency worsened the October 2025 crypto crisis. CZ denies all responsibility of Binance for the October 2025 crypto crash, but critics raise questions about centralized exchange governance. Crypto: the October 2025 crash and the USDe depeg, a multifaceted crisis On October 10, 2025, the crypto market suffered an unprecedented shock. Nearly 19 billion dollars of positions were liquidated in a few hours, plunging investors into panic. At the heart of this storm, the USDe stablecoin, issued by Ethena, lost its 1 dollar peg on Binance, falling to as low as $0.65. This depeg amplified losses and cast doubt on the stability of centralized exchanges.
Post-crisis analyses revealed that the problem was specific to Binance. While USDe maintained its parity on other platforms, its collapse on Binance triggered cascading liquidations, worsening the price crash. Crypto experts point to a malfunction of Binance’s internal oracle, which allegedly undervalued users’ collateral. A technical flaw with devastating consequences.
Binance under fire: technical malfunctions and disputed responsibility Binance, Bybit, and Hyperliquid are being blamed after the October 2025 crypto catastrophe. Criticism focuses on Binance’s internal oracle, accused of mispricing during the crash. The result: thousands of crypto accounts were wrongfully liquidated, intensifying the panic. Some experts believe Binance could have anticipated this scenario, notably by strengthening backup mechanisms for illiquid stablecoins.
Furthermore, crypto users have denounced delays in Binance’s communication, as well as a lack of clarity on the causes of the depeg. These delays reportedly worsened avoidable losses, with better risk management. The situation reminiscent of Terra/LUNA’s collapse in 2022. In both cases, stablecoins played a key role in amplifying losses. But unlike Terra, Binance had the means to limit damage. Why weren’t these measures taken in time?
Changpeng Zhao (CZ) counterattacks: denial of responsibilities and financial compensations Facing criticism, Changpeng Zhao adopted a clear strategy: deny any direct responsibility. In public statements, CZ called the accusations “absurd”, insisting that Binance had complied with regulations. For him, the crash was the result of extreme market conditions, impossible to fully predict.
To soothe users, Binance announced a $600 million compensation for those affected by the depeg of USDe. A measure praised by some but deemed insufficient by others. Critics see it mainly as a maneuver to save the crypto platform’s reputation, rather than a genuine acknowledgment of flaws.
Are centralized exchanges transparent enough to avoid new crises? While Changpeng Zhao (CZ) and Binance try to move past the October 2025 crypto crash, investors await clear answers. One thing is certain, this crisis showed that even industry giants are not immune to flaws. And you, do you still trust centralized platforms?
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
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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.
The hemorrhage hasn’t stopped bleeding in the crypto universe. It marks an era where every pause seems to announce a new bleeding. The rebounds are there, yes, but they hardly last more than the flap of a nervous market’s wings. And for a few days now, another ailment gnaws at the beast: ETF withdrawals. These investment vehicles, once seen as the golden bridge to institutional adoption, have become the valves of massive disengagement. Bitcoin staggers, crypto investors lose hope, and liquidations make a comeback through the front door.
In brief Bitcoin ETFs lost $2.9 billion in 12 days, a sign of institutional disfavor. Crypto traders liquidate massively, unable to sustain highly leveraged positions. Binance is blamed after bugs amplified the October 10, 2025 crash. Technical levels alert: critical thresholds broken, retreat target toward $68,000. Crypto ETFs: From Adoption Dream to Stress Machine Long awaited as the Grail, spot Bitcoin ETFs today reveal themselves as a ruthless mirror of institutional sentiment. Since mid-January, cumulative outflows have exceeded $2.9 billion. This phenomenon coincides with a brutal 26% correction in BTC price. The rejection at $98,000, then the slide toward $70,000, ended the beautiful illusion of a solid upward trend.
Asset managers no longer want to wait. After a technical rebound where $561 million briefly flowed into ETFs, the trend reversal was immediate. Fidelity, Ark, Grayscale: all suffered withdrawals amounting to several hundred million within just a few hours.
And the bleeding continues. Even BlackRock, perceived as the “rock” of Wall Street crypto, could not stop the momentum. As James Seyffart (@JSeyff) highlights:
Bitcoin ETF holders are recording their biggest losses since the launch of these funds in January 2024, due to the collapse of bitcoin’s price.
These figures sound like a signal of lasting disconnection. ETFs are no longer trust relays but direct witnesses of a market that withdraws—methodically.
Behind the Liquidations: Excessive Leverage and Lack of Safety Net The October 10, 2025 event is still fresh in everyone’s memory. A black day, when $19 billion went up in smoke, due to an infernal sequence: rumors, technical bugs, macroeconomic panic. Some tried to reduce the cause to a simple “depeg” of USDe on Binance.
A too comfortable explanation for Haseeb Qureshi, partner at Dragonfly, who dismantles this simplistic version in a viral thread:
The price of USDe only diverged on Binance, it did not diverge on other platforms. Yet, the liquidation spiral affected the entire market. So, if USDe’s “depeg” did not spread to the entire market, it cannot explain why each platform experienced massive wipeouts.
The problem lies elsewhere: in poorly calibrated leverage, and a liquidation architecture that prefers to avoid losses rather than ensure stability. Market makers, deprived of real-time data due to API outages, couldn’t rebalance their books. Result: automatic liquidations chained losses one after another.
Without TradFi-type protection (circuit breakers), the crypto market found itself without a parachute.
Bitcoin and Technical Levels: Is the Compass Broken? Bitcoin is looking for a base, a solid foundation. And technical analysts all watch the same number: $68,400. This is the level of the 200-week moving average, a sacred reference for long-cycle traders. But here too, signals are blurred. Since November, BTC has lost its 50w and 100w MAs, two key thresholds. And the specter of a drop to $58,200 resurfaces.
ETFs increase the pressure. Seeing prices drift toward these fragile zones, desks switch to “sell the rip” mode. They liquidate on rebounds rather than buy on pullbacks. Even options confirm this distrust: delta skew rose to 13%, reflecting strong demand for puts and distrust of any immediate rebound.
The mechanism is ruthless: when ETFs become fast-exit tools, they worsen each fall. Entry points become capitulation zones.
Key Landmarks to Understand the Current Spiral $70,539: Bitcoin price at the time of writing; $2.9 billion: cumulative withdrawals of spot BTC ETFs over 12 days; $3.25 billion: recent futures Bitcoin position liquidations; 13%: BTC options skew, indicating strong pessimism; $68,400: 200-week EMA level, last technical bastion. Most cryptocurrencies are currently in the red, and the charts look like a stormy sea. Yet, another crypto asset class is experiencing record growth: stablecoins. These digital tokens, backed by fiat currencies, have just reached a historic trading volume of $10 trillion. As often in storms, the most stable shelters attract the crowds.
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Mikaia A.
La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
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The supply of Ethena’s synthetic dollar, USDe, has experienced a notable contraction in recent weeks, retreating to levels last seen in November 2024. This trend follows a significant period of capital outflows, characterized by approximately $1.6 billion in redemptions as of late April 2026. This reduction reflects a broader cooling in the demand for Ethena’s delta-neutral yield products, as market participants reassess their positions amid shifting macroeconomic conditions, heightened sensitivity to cross-protocol risks, and evolving yield dynamics within the decentralized finance sector. The contraction marks a critical juncture for the protocol, which has seen its circulating supply decrease from its peak as investors rotate capital away from synthetic structures in search of more stable or traditionally denominated returns.
Drivers of Recent Capital Outflows The reduction in USDe supply is largely tied to a combination of factors that have collectively diminished the immediate incentive for users to maintain or increase their holdings. Yield compression serves as a primary driver, as the attractiveness of USDe and its staked counterpart, sUSDe, has been heavily dependent on the yields generated from a blend of crypto funding rates and traditional financial instruments. As the broader market matures and funding rates stabilize, the competitive edge of these yields has narrowed—with rates recently hovering near 3.5%—leading some investors to rotate capital toward more traditional, risk-free assets like T-Bills. Furthermore, the broader climate of increased caution following the April 18, 2026, KelpDAO exploit has heightened risk sensitivity among institutional and retail liquidity providers. Although Ethena has no direct exposure to the compromised assets, the incident triggered a widespread “flight to quality,” where capital moved away from newer synthetic frameworks toward more established stablecoin environments, even from pools that were not directly impacted by the security breach.
Market Implications and Strategic Outlook The supply reduction serves as a vital indicator of the current state of Ethena’s ecosystem, highlighting the challenges of maintaining demand in a maturing yield environment. While the protocol was built to offer a scalable, crypto-native money solution, its growth trajectory is now intrinsically linked to the broader DeFi liquidity cycle and the protocol’s ability to successfully diversify its collateral. In response to these headwinds, Ethena is pivoting toward a diversification strategy that includes exploring institutional lending partnerships and tokenized real-world assets, such as gold-backed instruments, to stabilize yields and reduce reliance on purely crypto-native revenue sources. As the supply of USDe finds a new equilibrium, market observers are focused on whether new integrations—such as its recent adoption by the Singapore Gulf Bank and ongoing “Stablecoin-as-a-Service” white-label partnerships—can generate enough organic demand to offset the impact of the current yield squeeze. The protocol’s ability to navigate this period of contraction while maintaining its peg stability through its delta-hedging mechanism remains the key metric for participants assessing the long-term viability of the synthetic dollar model.
About the Author: Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex—broker technology, liquidity, and macro drivers. Karthik’s writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities.
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.
This story is an excerpt from the Unchained Daily newsletter.
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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.
Image created using artificial intelligence with Midjourney.
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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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“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.
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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.
