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Kamala Harris Beats Donald Trump On Prediction Market Ahead Crypto Meetings

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4 months ago

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In a remarkable turn of events, Vice President Kamala Harris has overtaken former President Donald Trump in prediction markets, reflecting a surge in her campaign’s momentum. This comes after talks of a crypto reset and some meetings scheduled. However, as Harris’ win odds surge, the crypto industry might lose out on the ambitious plans Trump suggested.

Kamala Harris Vs Donald Trump

While Kamala Harris and Donald Trump look tied on Polymarket, the former has taken a small lead. According to the latest data, Harris’s election odds are now at 49.2%, while Trump lags slightly behind at 49%. This shift follows a period where Trump had a commanding lead, having previously reached a high of 71% win odds on Polymarket.

The Harris campaign’s recent efforts to engage the crypto community appear to be a significant factor in this turnaround. On Tuesday, August 6, the Democrats launched the Crypto4Harris Group. It is an initiative aimed at organizing, fundraising, and developing a nuanced crypto-policy approach for Harris’s presidential bid.

Moreover, the group will hold its first town hall meeting next week. This meeting will see notable figures like billionaire Mark Cuban and former White House Communications Director Anthony Scaramucci. The move to court crypto enthusiasts is seen as a strategic effort to counter Trump’s influence in the sector and build Harris’s image within the crypto industry ahead of the November elections.

Also Read: Kamala Harris’ Election Win Odds Hits 47%, Is Trump’s Bitcoin Strategy At Risk?

Crypto Reset Strategy

Such initiatives is part of a broader strategy by pro-crypto Democrats to reset Kamala Harris’s relationship with the industry and establish a fresh start. In addition, California Congressman Ro Khanna is also scheduled to host a pivotal roundtable in Washington. This roundtable is set to feature crypto industry leaders and renowned political figures.

It aims to discuss the future of crypto policy. Moreover, Harris campaign representatives and other Democrats are expected to join. Furthermore, Mark Cuban’s endorsement of Kamala Harris and Minnesota Governor Tim Walz has generated significant attention. Cuban, who has been an outspoken advocate for cryptocurrency, will be speaking at the upcoming Crypto4Harris town hall meeting.

His participation underscores the growing influence of the crypto community in the political arena. However, Harris’s attempt to pivot her stance on crypto has not been without controversy. Tennessee Senator Bill Hagerty recently criticized her new strategy.

He suggested it was a ‘desperate’ attempt to mimic Trump’s success at the Bitcoin conference in Nashville. Hagerty’s comments reflect a broader skepticism among some Republicans about Harris’s commitment to a pro-crypto approach.

Despite these criticisms, the Harris campaign’s crypto outreach has potential benefits. If Harris follows through on her promise of a pro-crypto policy, it could signal a limited crackdown on the industry. However, the some of Donald Trump’s ambitious plans on crypto may never see the light of the day.

Trump has announced his intention to establish a strategic Bitcoin reserve. This proposal could gain traction with the support of Senator Cynthia Lummis’ bill. Furthermore, it is deemed one of the most bullish moves for the industry. On the flip side, Harris hasn’t announced similar plans as of yet.

Also Read: Kamala Harris Likely To Appoint Anti-Crypto Treasury Secretary: Report

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Kritika Mehta

Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Crypto Trader Records $2.5M Profit With This Token, Here’s All

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1 hour ago

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November 24, 2024

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A crypto trader made a $2.5M profit today by turning 13 SOL into 9,718 SOL through trading 76.46M FATHA tokens. The trader bought the tokens on Pump.fun, capitalizing on a rapid increase in FATHA’s market cap, which surged to over $60M. The trader sold the tokens at the peak, realizing a 750x return.

Trader Makes $2.5M Profit Trading FATHA Token

The crypto trader turned 13 SOL (around $3.3K) into 9,718.5 SOL, making a $2.5M profit by trading 76.46M Slopfather (FATHA) tokens. On November 23, the trader purchased the tokens on Pump.fun, and within 40 minutes, FATHA’s market cap surged to over $60M. After holding the tokens, the trader sold them at the highest point, securing a 750x return.

The trader capitalized on the rapid market shift and seized the opportunity to make a significant profit. As per solscan, 9,500 SOL was swapped for USDC and bridged to Ethereum, demonstrating how quickly substantial profits can be made in the volatile meme coin market. The trade reflects the growing influence of meme coins on the Solana blockchain.

On-chain data indicates that the wallet involved in this trade may belong to BT (@cooksassistant), who has traded 60 tokens over the past three days. With a win rate of 42.37%, BT has generated $2.7M in total profit.

FATHA Token Surge and Solana’s Meme Coin Boom

Slopfather (FATHA) token has surged to $0.03841, with a market cap of $38 million, allowing the crypto trader to book a massive profit. Its 24-hour trading volume is $156 million, reflecting a 4000% increase in the last 24 hours. This dramatic rise shows the growing demand for meme coins in the crypto market.

Solana’s blockchain is becoming a top platform for meme coin launches. Projects like PNUT, WIF, GOAT, and BONK are leading the way. Additionally, Arthur Hayes’ endorsement of the Solana-based FLOWER coin boosted interest, driving the growth of meme coins on Solana.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Gemini’s Cameron Winklevoss Demands Fresh Probe Into SBF

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7 hours ago

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November 24, 2024

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Gemini co-founder and CEO Cameron Winklevoss is calling for a probe into the drop of a controversial charge involving FTX co-founder Sam Bankman-Fried (SBF). It has been 8 months since Judge Lewis Kaplan sentenced SBF to 25 years in jail. However, to Tyler, this has not resolved some major aspects of his fraudulent reign as FTX CEO.

Cameron Winklevoss to Trump’s Attorney General

Directing his X post to the community, the Gemini CEO asked the incoming Attorney General to investigate SBF’s $100 million campaign finance breaches. Notably, the Department of Justice (DoJ) dropped these charges mid-last year, moving the SBF saga away from politics.

To Cameron Winklevoss, the public deserves to know why the charges were dropped. In addition, he said it is in the public interest to know why the funds went to fund Democrat elections. The post from the Gemini co-founder has generated a lot of reaction among crypto stakeholders.

One X user Nguyễn Minh Quân (@theUxBlockChain), highlighted how dropping charges on high profile cases can erode trust in public offices.

In a separate post, the Winklevoss twin hailed the nomination of Scott Bessent as Treasury Secretary. Bessent aligns with crypto values and according to the Gemini CEO, he explains the Democrat war on the industry better. In Scott Bessent referenced video, he claimed the Democrats are fighting the industry to cover up the bad act from one party – SBF.

Contained Complications from SBF Role At FTX

Cameron Winklevoss’ is one of the major firms impacted, indirectly, by the FTX implosion. Over, the exchange’s bankruptcy became imminent with over $8 billion of customer’s funds lost.

In fairness attribution to the justice system, Caroline Ellison and Ryan Salame also got 2 and 7.5 years for helping to wreck the exchange. However, Gary Wang escaped prison, enjoying rare leniency like Nishad Singh.

With the exchange’s executives now sentenced, the firm has announced January as the timeline to begin the FTX reognization plan. While the entire bankruptcy plan is almost over, the last phase, the reognization plan still require one more court order.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Stellar Price Skyrockets Over 80%, XLM Rally to $1 Imminent?

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10 hours ago

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November 24, 2024

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Stellar price has seen a remarkable surge, climbing over 80% in the last 24 hours, rising to number one in the top gainers. The bullish momentum has pushed XLM from $0.302 to a peak of $0.55, as traders and analysts anticipate the possibility of the asset nearing the $1 mark.

Stellar Price Reaches $0.55 Amid Bullish Momentum

Stellar’s price rise reflects strong buying interest as it touched $0.55, marking a significant upward trend. After a period of consolidation around $0.40, the cryptocurrency broke through resistance levels, delivering impressive returns for investors. 

Market participants have noted this upward movement as a sign of renewed confidence in the asset’s potential. However, the price also briefly retraced from its peak as it faced resistance at the $0.55 level, suggesting that $1 remains a potential milestone rather than an immediate outcome. Jed McCaleb, Stellar’s founder, has also added to the growing optimism surrounding the network. 

In a recent statement, McCaleb commented on Stellar’s current momentum and its role in global financial systems. “Stellar is the most underrated and least understood crypto project,” McCaleb remarked, emphasizing its ability to facilitate real-world transactions and its high efficiency. He noted,

“The best and most impactful use of crypto is as digital money, and this is what Stellar is built for.”

Grayscale Stellar Lumens Trust Records 10% Asset Growth

Grayscale Investments LLC’s recent 10-K filing highlighted a 10% increase in the net assets of its Stellar Lumens Trust during the fiscal year ending September 2024. 

Despite the challenges posed by XLM price fluctuations and management fees, the trust managed to grow its assets due to the addition of 34,875,230 XLM tokens valued at $3,923.

Trading activity around Stellar has surged, with derivatives markets experiencing substantial growth in both volume and open interest. The trading volume for XLM derivatives rose by 284.26%, reaching $8.98 billion, while open interest increased by 125.88% to $393.05 million. 

XLM/USD chart (source: Coinglass)XLM/USD chart (source: Coinglass)
XLM/USD chart (source: Coinglass)

The filing also outlined that the trust faced losses stemming from token depreciation earlier in the year, but these were offset by a robust recovery and asset inflows. The document underscores the growing institutional interest in Stellar as an investment vehicle, aligning with its recent market performance.

Analyst Predicts Multi-Year Price Pattern May Propel XLM to $3-$5

Cryptocurrency analysts have highlighted a multi-year price structure for Stellar, suggesting that it may be poised for further growth. A prominent market speculator, known as “Charting Guy,” recently shared a prediction that Stellar could achieve price targets between $3 and $5.

ImageImage

According to the analyst, XLM price has been forming a bullish “Adam and Eve” pattern on the monthly chart since 2017. This chart pattern is often associated with long-term upward momentum. 

Charting Guy emphasized patience, indicating that the current rally could lead to substantial gains for long-term holders. A potential breakout from this pattern could result in a 930% to 1,617% increase from current levels, further reinforcing optimism in Stellar’s market trajectory.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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