News
Trump presidency odds boosted to all-time high by cryptocurrency bettors after assassination attempt
The odds of Donald Trump victory in the 2024 presidential election has hit an all-time high on a cryptocurrency prediction market after former president survived an assassination attempt during an election rally.
What happened: The so-called largest prediction market in the world, Polymarketview possibility of Trump securing another boost to his term limit to 70% on Sunday.
At the beginning of the year, the chances of winning the election were around 40%, gradually rising to 53% in February, before declining in the following months.
However, bettors have started to rally in his favor, as the presidential candidate has significantly increased his support for cryptocurrencies since mid-July.
The incumbent candidate’s odds Joe Biden At the time of writing, the percentage of those returning to office is 18%.
See also: SEC Closes Paxos Investigation, Marks Victory for Crypto Industry
Polymarket is a decentralized prediction market that allows users to bet on major global events using cryptocurrency. Users can buy or sell outcome shares, which can be redeemed for $1 if the outcome is correct and become worthless if it is incorrect.
Because matter: On Saturday, during a campaign rally in Pennsylvania, Trump escaped an assassination attempt: a bullet struck his right ear.
Major cryptocurrencies such as Bitcoin BTC/USD and Ethereal ETH/USD has rallied strongly on this developmentwith analysts interpreting this as a “bullish bias” in the market towards pro-Trump news.
The Republican candidate has gained popularity among enthusiasts thanks to his new interest in cryptocurrencies, even positioning himself as the “president of cryptocurrencies”.
Price Action:As of this writing, Trump’s inspiration Magic Coin According to TRUMP/USD, the pair traded at $7.67, up 48% over the week. data from Benzinga Pro.
Read also:
Image created via Shutterstock photo
News and market data provided by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.