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Description by Mitchell Prefer for Decrypt.
Although many crypto users have animosity towards Joe Biden. crypto agendathe president A crisis of legitimacy This week it cuts both ways for the Digits – surprisingly, they first think of profiting from the news in one way or another.
On crypto betting site Polymarket, users have bet more than $326 million on questions related to the outcome of the 2024 presidential election, and whether Biden will be dropped by new concerns about his age and mental capacity.
As political pundits and media pundits debated this week whether Biaden could pull out of the 2024 presidential race, Polymarket became the first place to address the question with some determination. On Wednesday, Vice President Kamala Harris officially became the site lovable To end the Democratic presidential election.
Crypto users took the development as irrefutable proof of the collapse of the Biden campaign.
Biden returned to highs on the Polymarket on Friday as forecast market volatility reflected uncertainty over US politics. But his prospects generally dwindled, leading to continued suffering from other weaknesses. ie: BODEN containers.
The Solana meme coin, by A A distorted example The current president almost certainly was. is not It emerged as a strong endorsement of Biden or his campaign. In fact, negative stories related to Biden—including the conviction last month of his child's predator—It has already been added The token.
But more recently, Biden has boosted BODE's fortunes by 2024. When the presidential candidacy entered a new crisis on Wednesday, BODEN It fell by more than 38% in 24 hours.
Token holders – whether they like it or not – have found themselves this week as the advocates of the politician they love to mock. Some BODE owners have tried to find a silver lining by predicting that Biden will look for a way forward in the next few weeks, with the indicator showing unprecedented highs.
Similarly, a Kamala Harris-themed Solana meme Token It's up nearly 400% this week—turning another crypto trader into amateur political pundits overnight.
Added more $KAMA here.
I think the decision has already been made and the airing of the interview tonight will be a major media event.
If it really breaks this weekend, KAMA will gigasend in an instant.
There are no guarantees, but the betting odds are too hard to ignore…
— Fraggle Shock (@Fraggle_Shock) July 5, 2024
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