Kamala Harris trails Trump by 3% in latest Polymarket predictions
Release: 2024/10/07 22:24 Reading: 615
Cryptocurrencies a Key Issue in Upcoming U.S. Election
In the upcoming U.S. election, cryptocurrencies have become a prominent agenda item. It is speculated that the candidate with the more proactive stance towards crypto will gain an advantage in the 2024 race.
Data from Polymarket.com indicates that former president and leading candidate, Donald Trump, has a 51% chance of winning, with Kamala Harris following closely at 48.3%. The total number of bets placed on the presidential election has reached $1.35 billion, with Trump topping the list with $330 million and Harris receiving $264 million.
Market pundits suggest that among the frontrunners, Trump holds significant cryptocurrency assets. This was confirmed in a recent post where he announced his candidacy for 2024.
Harris retains a strong base in California, New Mexico, Colorado, Oregon, New York, Virginia, and Maine, while Trump has support in Texas, Montana, Florida, Alaska, South Carolina, and Utah.
In a July speech, Trump expressed his desire for the U.S. to become the "crypto capital of the planet" and the global "Bitcoin superpower."
According to OpenSecrets.org, the Top Spending Candidate Committees for 2024 are led by Kamala Harris with $435,620,329, followed by Trump at $171,427,936.
Elon Musk's Support for Trump
International media reported that Tesla CEO Elon Musk has voiced his support for Trump in Pennsylvania. Musk expressed his allegiance after an alleged assassination attempt on him.
Musk criticized the government's decision to limit the use of voter ID, stating that 14 states do not require it, potentially threatening voting rights.
Crypto Donation Disclosures
Data from OpenSecrets.org reveals that the highest individual crypto donation was from Andreessen Horowitz at $44,000k, followed by Winklevoss Capital Management at $5,000k. In terms of institutional crypto donations, Coinbase leads the pack with $45,499,995, followed by Ripple at $45,000k, Jump Crypto at $15,000k, and Circle Internet Financial at $1,000k.
Crypto Market Update
At the time of writing, the cryptocurrency market capitalization stands at $2.19 trillion, showing a 1.55% increase in the past 24 hours. The Fear and Greed Index indicates neutrality in market sentiments at 43.
Bitcoin's trading volume is defying the bearish trend, currently trading at $63,404 with an intraday surge of 1.45%. Its market dominance has increased by 1.47% in the past 30 days, reaching 58.03%.
Ethereum has dipped below $2,500 to $2,469, a significant drop in the past week. Its market dominance has declined by 2.43% in a week and 3.63% in a month.
Mog Coin leads the intraday gainers with a 16.03% increase to $0.051686. Dogwifhat (WIF) follows at $2.58 with a 13.58% gain, and Sui is up 12.39% at $1.94.
Memecoins have exhibited impressive performance in recent quarters, with Dogs, Bonk, Pepe (PEPE), Dogecoin (DOGE), Shiba Inu (SHIB), and Dogwifhat (WIF) gaining significant attention.
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