- Following the first Trump-Harris debate, Trump’s chances have decreased by 3%, while Harris’ chances have increased by the same margin.
- The shift in political momentum has affected the cryptocurrency market, with Trump-related meme coins experiencing notable declines.
Following the first Trump-Harris debate on Tuesday, Kamala Harris seems to have taken the lead over her opponent, Donald Trump. As per the prediction bets on Polymarket, Donald Trump’s chances of winning the US Presidential Elections in 2024 have dropped by 3%, while Kamala Harris has gained by equal percentage points.
Interestingly, the two candidates have tied on the Polymarket tracker, which shows 49% odds of winning for each of them. Also, the Trump-Harris debate has no discussion over crypto or digital assets or even the blockchain technology supporting it.
As we know, crypto is a highly contested issue in this election. The crypto firms in the US have collectively donated $119 million to the campaign of the Presidential candidate nominees, majorly happening through super PAC Fairshake, per the CNF report.
Crypto Industry Favours Trump Over Harris
Crypto industry players see Donald Trump as a friendlier candidate for undertaking a pro-crypto approach ever since he began campaigning for the US Elections in 2024. Furthermore, Trump has also pledged to end an “unlawful and un-American crackdown” on the U.S. crypto industry, reported CNF.
Apart from Donald Trump, other lawmakers from the Republican party have also released pro-crypto remarks with Vice President nominee JD Vance also pledging to support Bitcoin miners. On the other hand, Harris has started engaging with the crypto industry, with her team seeking to understand the sector better. Although her specific stance on digital assets remains uncertain, there has been criticism from some within the crypto community regarding the Biden Administration’s current regulatory approach.
As per the latest Bernstein Research report, the BTC price can rally all the way to $90,000 if Donald Trump becomes the US President. If Kamala Harris wins, the research report predicts a crash to $30,000.
Donald Trump Meme Coins Tank As Kamala Harris Leads
As Harris took a lead over Donald Trump in the first presidential debate, Trump-based crypto coins in the market faced strong selling pressure.
In recent trading activity, several specific cryptocurrencies have experienced significant declines. The MAGA (TRUMP) coin fell by 10.0%, while MAGA Hat (MAGA) saw a sharper drop of 22.5%. Doland Tremp (TREMP) faced a substantial decline of 27.5%, and Super Trump (STRUMP) decreased by 12.3%. In contrast, the Kamala Harris (KAMA) meme coin rose by 7.3%.
With the betting market suggesting a Harris win over Trump, Bitcoin, and the broader crypto market have also come under a bit of selling pressure. The BTC price is facing rejection at $57,000 and is currently trading 1% down at %56,678 with a market cap of $112 trillion. Some market reports suggest the possibility of BTC heading into a bear market, per the CNF report.
Donald Trump has already shown his intent to participate in the second debate with Kamala Harris. The crypto community wants him to ask Harris some important questions about policy decisions.
