Date: Tue, August 27, 2024, 12:56 PM GMT:
In 2024, PolitiFi coins have become the talk of the town, capturing the interest of crypto communities deeply engaged in U.S. political elections. These tokens, which are tied to U.S. election figures and political movements, have shown remarkable growth, fueled by a mix of intrigue, speculation, and the usual pump-and-dump activities that often define the crypto space.
According to a recent report from cryptocurrency data platform CoinGecko, PolitiFi tokens have surged by an impressive 782.4% from January 1 to August 25, 2024. This performance has far outpaced the broader meme coin category, which saw a still notable but much smaller increase of 90.2% during the same period.
Source: CoinGecko Research
Mentioned in report, as of August 25, the leading PolitiFi coin, ConstitutionDAO $PEOPLE , had a market cap of $385.6 million, up 494.3% from $64.9 million at the start of the year. Despite disbanding after its original mission failed, the token remains a top player in the PolitiFi space.
MAGA ($TRUMP) follows with a market cap of $178.9 million, surging 1,350.9% in 2024. It peaked at $789.8 million on June 1, coinciding with Donald Trumpâs guilty verdict, which boosted the token by 22.3%.
MAGA Hat (MAGA), the third-largest PolitiFi coin, reached a $35.5 million market value, growing 1,292.1% since its launch in May 2024. The token hit an all-time high of $232.4 million on May 29, mirroring the price action of MAGA (TRUMP).
Despite these impressive gains, PolitiFi tokens remain a small portion of the overall meme coin market. By August 25, PolitiFi tokens made up just 1.5% of the meme coin market share, with a total market capitalization of $680.8 million. In contrast, the entire meme coin market was valued at a whopping $45.6 billion.
The rise of PolitiFi coins in 2024 highlights the growing intersection of politics and cryptocurrency, where political events and figures increasingly influence market trends. As the U.S. election season heats up, the future performance of these tokens will be an interesting space to watch.
