On July 14, Trump was shot while giving a speech at a campaign rally, injuring his ear. After the incident, Bitcoin rose 2.67% in one hour, and today's high is close to $63,000. Solana rose 8% in 24 hours, and all major sectors also showed obvious recovery. Trump's dog coin concept soared, $TRUMP soared nearly 70% in 1 hour, breaking through $10. $MAGA soared 33% in 1 hour, and its market value exceeded $100 million again. In addition, several related meme coins appeared on Solana, among which $FIGHT rose 23 times in 4 hours after its launch.
So why is Trump's shooting good for the cryptocurrency market?
First, 2024 is the most important election year in the history of cryptocurrency. The policies of the new leaders will profoundly affect the cryptocurrency market in the coming years.
In regions where $BTC is understood, candidates who support cryptocurrencies have already won. For example, candidates who support Bitcoin have dominated in El Salvador and Argentina. After all, some savvy politicians have discovered that young votes in the crypto world are a "must-fight" in national vote battles, especially in South Korea, where internal circulation is serious and young people are fanatically speculating in cryptocurrencies and are eager to get rich quickly. According to statistics from the Financial Services Commission (FSC) of South Korea, there are 3.08 million young people aged 20-39 who speculate in cryptocurrencies in South Korea, accounting for 23% of the population in this age group (13.431 million people), accounting for nearly one-fifth.
Among the two presidential candidates, Trump and Biden, the attitudes towards cryptocurrencies can be said to be completely different. Since the election, Trump and the Republican Party have been doing their best to position themselves as a party that supports cryptocurrencies. Republicans jointly promoted a number of pro-cryptocurrency legislation in May. Last month, Trump said that he hopes "all remaining Bitcoins are mined in the United States", and the Republican Party has made the right to freely mine and trade cryptocurrencies part of its 2024 election platform.
Compared with Trump's full embrace of cryptocurrencies, traditional financial regulators such as the Biden administration and the Democratic-controlled SEC are opposed to or conservative about cryptocurrencies. Therefore, for cryptocurrency users, they are more willing to support Trump. If Trump wins the election, it will be a big boon for cryptocurrencies. In the shooting, after the gunman was shot dead, Trump stood up calmly 15 seconds later. He did not flee, but surrounded by bodyguards, his ears bleeding, his right fist raised high, and shouted FIGHT. This image that will be remembered by American history is deeply rooted in the hearts of the people. This is classic American heroism. Trump's "classic American hero" character image has made many people who were once wavering or not optimistic about Trump turn to Trump. Trump's election victory rate soared to 70% on the prediction platform Polymarket. For many people, they are more willing to support Trump, a heroic and tenacious president who fights for the American people. Therefore, the shooting greatly increased the chances of Trump's election, and Trump's election means that the world's powers will publicly support cryptocurrencies, and cryptocurrencies will officially enter the mainstream market, which is undoubtedly a big boon.
Let's review Trump's involvement in cryptocurrency and see whether Trump's commitment to cryptocurrency is sincere or just a false promise to win votes. In 2021, Mrs. Trump quickly followed the trend and announced the release of Trump-related NFTs. In 2022, Trump officially announced the release of his own limited edition NFTs. In 2023, Trump released two series of NFTs and launched NFT benefits, such as Trump dinners, signed souvenirs, etc., which seemed to make his own NFT business bigger and stronger. In order to prove his affinity for cryptocurrency, Trump invested a lot of crypto assets during the election.
According to the data from the Arkham platform, Trump’s current total holdings are worth more than 10 million US dollars, with the largest holding value being $Trump tokens, with a total value of 4.63 million US dollars. The second and third largest holdings are Ethereum and TROG, with a total value of 1.65 million US dollars and 1.63 million US dollars respectively. The largest holdings are mainly distributed on the Ethereum chain, accounting for as much as 87%. Trump has also publicly announced that he will accept Bitcoin, Ethereum, Dogecoin, Solana and other cryptocurrencies as donations.
Trump thus became the first presidential candidate to accept digital currency donations. At the NFT dinner, Trump clearly declared himself a defender of cryptocurrency. After being shot and injured, Trump even stated that he would still attend the 2024 Bitcoin Conference and give a speech. It can be said that the emotional value is full. After the shooting, celebrities such as Musk also publicly supported Trump. At the same time, Musk also posted on social platforms to clearly support Trump and said, "The last time the United States had such a tough president was Theodore Roosevelt a hundred years ago." At the same time, it was revealed that Musk donated a large sum of money to Trump. At present, it can be said that Trump is far more popular than Biden.
The US presidential election is far from over. If you want to seize the hot spots of the election, you must ambush at three important moments in the second half of the year.
September 10: Second debate
Trump and Biden have agreed to hold the second presidential debate on September 10, and there are still two months before the second debate. This shooting incident has also added fuel to the fire of the second debate. Perhaps more dramatic things will happen during these two months. The process of the second debate will also have a profound impact on the results of the election, and it is also a key node that NFT and local dog players cannot ignore.
November 5: Election Day
The US presidential election day will be held on November 5 this year. This election is the 60th presidential election in the history of the United States. Congressional elections will also be held at the same time. In addition to the US president, the hot topics of this day can also be hyped up for the vice president. Although Trump currently has a greater advantage, the voting day is full of uncertainty and drama, and anything can happen. Therefore, paying close attention to the voting results and market reactions is an indispensable part of the investment strategy.
January 20, 2025: Presidential Inauguration Day
The president-elect will be formally sworn in on January 20, 2025. This day not only marks the official start of the new president's administration, but also symbolizes the completion of the peaceful transition of power. The inauguration ceremony is not only a solemn ceremony, but also an opportunity for the new president to make his first speech to the nation and the world. In this speech, the president usually elaborates on the policy direction and governing philosophy for the next four years. Therefore, for the primary and secondary markets, especially the Meme Dogecoin market, the market reaction before and after the inauguration ceremony is also worth paying attention to. The new president's policy direction, economic plan and diplomatic strategy may have a significant impact on the market.