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Donald Trump and Kamala Harris-themed cryptocurrencies traded mixed on Monday, September 9, ahead of a key debate that could influence the outcome of the upcoming general election.
The debate between Donald Trump and Kamala Harris is coming
MAGA (TRUMP), the largest Trump-themed coin, is down 2.1% and trading at $3.38. It is up 6.3% over the past seven days, giving it a market cap of over $155 million. Doland Tremp (TREMP) is up 40% over the past seven days, while Trumpcoin (DJT) is down over 4%.
On the other hand, the Kamala Horris (KAMA) token has fallen by 6.6%, raising its valuation to over $8 million, becoming the sixth largest coin in the world.
The main catalyst for these political currencies is Tuesday's debate between Trump and Harris, which could have an impact on the race. survey data shows the race is close, meaning many undecided voters may choose a side after the debate.
A New York Times/Sienna very often The survey showed Trump leads by one point nationally. In key battleground states, the poll (along with the CBS News poll) shows Harris leading by one point, indicating the race is virtually tied.
Polymarket, a popular prediction market, shows that Donald Trump has a 52% chance to win the elections. Another survey suggests that Harris will win the popular vote, as Democrats have done in recent elections.
Trump tokens rose after his debate with Joe Biden
Most Trump-themed tokens surged after the first debate between Trump and Joe Biden on June 27. In that debate, it became clear that Biden would likely lose the election to Trump. The MAGA token rose by 18%, while the MAGA hat rose by over 28%. Doland Tremp rose by 15%.
These tokens then fell back as the market predicted that Democrats might nominate a younger candidate with a higher chance of winning.
Most Trump tokens and other cryptocurrencies are likely to perform well if he wins the debate for two reasons. First, these meme coins are often driven by hype among market participants.
Secondly, Trump is viewed positively in the cryptocurrency community. He owns cryptocurrencies worth more than $5.76 millionhas asked the government not to sell its bitcoin (btc) holdings and has the support of cryptocurrency fans such as Elon Musk and Tyler Winklevoss.
On the other hand, Harris is said to favor Gary Gensler as Treasury Secretary and has not put forward a specific crypto policy. Elizabeth Warren, one of her supporters, has called for more regulations on cryptocurrencies.