- Republican candidate Donald Trump has survived an assassination attempt in Pennsylvania.
- The survival of the presidential candidates confirms the bullish revival of Bitcoin and Ethereum..
- Trump-style meme coin MAGA (TRUMP) has reacted strongly to the political turmoil.
Republican presidential candidate Donald Trump has been implicated in an assassination attempt during a campaign speech in Pennsylvania. Last Saturday, the former president was speaking at the Butler Farm Showgrounds, about 50 miles from Pittsburgh, when a series of loud noises caused panic and Trump was rushed off the stage with a bloody face.
Trump claimed he had been “shot in the ear” and even said the next morning that he “felt like I was going to die.” The dramatic development created a storm in the blockchain space, with every coin with a Trump theme adding to its market cap.
Crypto Rise After Shooting
The crypto market has responded gracefully to the political turmoil in the United States. On Sunday, the MAGA (TRUMP) meme coin surged more than 40% to hit a weekly high of $9.51, halting TRUMP’s monthly price decline, which is still down 33% over the past 30 days.
As the overall crypto market recovers, with all top five digital assets posting gains of more than 4%, X crypto enthusiasts are jokingly thanking Trump for the crypto rally. For example, trader Crypto Chrys said: “Basically, thank you God for protecting him and keeping him alive…”
But few agree that the 4% rally in Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other major market cap altcoins was caused by Trump, who declared himself the “Crypto President” at a fundraising event in San Francisco in June 2024. “Not Trump, lol. The market was already bullish. Have you heard of the charts?” said crypto enthusiast 10000XAI.
Whale, Trump Sell $8.85 Million, Big Profit
As the mudslinging political arena in the US grows increasingly alarmed about the upcoming November election, the young PolitiFi niche is approaching a billion dollar market cap, currently sitting at $940,891,502. Even amid the political turmoil, smart money accounts on the Ethereum chain have been betting on TRUMP’s bull run.
An Ethereum wallet owned by well-known cryptocurrency trader Gigantic Rebirth deposited $1.08 worth of MAGA (TRUMP) coins on the BTSE cryptocurrency exchange. At the time of the stamp transaction, the amount unloaded was worth $8.85 million, and the Ethereum whale made a profit of $8.3 million.
According to LookOnChain’s research, in late 2023, this crypto whale used 540,700 Tether USD (USDT) to buy 1.08M TRUMP at an average price of $0.50. Additional research results DailycoinThe massive sell-off was confirmed when it was revealed that the aforementioned whale had only $736.88 worth of TRUMP left in its balance.
On the Tet Flipside
- Even as the overall market bounced back, smaller Trump-themed meme currencies plunged by double digits.
- Ethereum-based MAGA and STRUMP fell 20.5% and 9% respectively in 24 hours.
Why this matters
Cryptocurrency integration and regulation have been major topics this election season, with President Trump calling himself America’s first pro-cryptocurrency president.
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