CoinDesk Reports:
Crypto investors are bracing for any actions following speculation that Kamala Harris could replace President Joe Biden.
Indeed, Biden’s poor performance in last week’s presidential debate has eroded confidence in his ability to defeat Donald Trump in November. Nowhere is this more frenetic than in the cryptocurrency world.
On the thriving prediction market Polymarket, Harris’ odds of being nominated skyrocketed from 7% earlier today to a midday high of 31%. President Joe Biden still leads with 58%, followed by Michelle Obama at 7% and California Governor Gavin Newsom at 3%.
Approximately $75.6 million is riding on this betting spree.
Notably, in another poll on Polymarket, the likelihood of Biden stepping down today increased by 10% to 45%, up from 50% just two days after the June 29 debate, fluctuating within a 10-point margin.
Meanwhile, according to CoinGecko data, the $KAMA token, embodying Vice President Kamala Harris, surged 127% to $0.00843 at 2:00 PM Pacific Time, with a market cap of $8 million. DexScreener indicates 1171 unique wallet trades for the coin. In contrast, the $NOOSUM token honoring Governor Newsom rose by 21.9% to $0.0043, with a market cap of $2.7 million.
CoinGecko notes that the Biden-themed Solana meme coin, BODEN, continues its 70% decline since last week, hovering around one cent, a mere fraction of the Trump-themed TREMP, trading at approximately $0.55.
Meme coins are entirely driven by meme power and exhibit extreme volatility, often plummeting close to zero. If you’re seeking something with at least a modicum of retained value, consider the Kamala Harris commemorative coins from the Hamilton Collection or future 47th President coins on eBay. Either could prove useful when flipping the coin.
