How is the performance of "Trump-themed" cryptocurrencies after consecutive victories in the presidential primaries?
The value of meme coins lies in their ability to attract public attention, and Trump is undoubtedly one of the most attention-grabbing figures in the world.Author: BlockBeats
According to calculations and reports from several mainstream media outlets in the United States, former President Donald Trump won the Republican primary held in Michigan on the 27th. This former president has been continuously winning in the 2024 presidential election primaries in the U.S., becoming a focal point of news and discussions on social media.
As early as February 6, Andrew Kang, co-founder and partner of the crypto venture capital firm Mechanism Capital, publicly announced his investment in Trump-themed crypto assets. He pointed out: "The value of meme coins lies in their ability to attract public attention, and Trump is undoubtedly one of the most attention-grabbing figures in the world."
If one had started investing in these Trump-related meme coins and NFTs from February 6, what kind of investment returns could they have achieved by now?
Meme Coin: TRUMP
TRUMP (MAGA) was launched on August 11, 2023. MAGA stands for "Make America Great Again," which is Trump's famous political slogan. A crypto wallet believed to be directly owned or operated by Trump currently holds 580,000 TRUMP, valued at over $3.6 million. Currently, the market capitalization of this token has reached $290 million, making it the ninth-largest meme coin.
On February 6, the price of TRUMP was $2.2. Based on the current latest price of $6.25, investing in TRUMP on that day has now yielded a return of 184%.
NFT: Donald Trump Digital Trading Card
On December 16, 2022, Trump announced the launch of his personal themed NFT collection "Donald Trump Digital Trading Card" on social media, with a total of 45,000 cards, each priced at $99. Within two days of its launch, the floor price of the Donald Trump Digital Trading Card once exceeded 0.6 ETH. Based on the ETH to USD exchange rate at that time, the floor price reached as high as $700.
On February 6, the floor price of the Donald Trump Digital Trading Card was 0.225 ETH. Based on the current latest floor price of 0.2299 ETH, the investment return rate for the Donald Trump Digital Trading Card from that day is currently 2.17%.
Polymarket "2024 Presidential Election Winner" Prediction
In addition to purchasing meme coins and NFTs, participating in the "2024 Presidential Election Winner" prediction on Polymarket can also yield benefits from Trump's consecutive primary victories. The starting trading price for each winning outcome is $0.5, and the price changes based on the amount users bet on either side. The price (odds) represents the current probability of the event occurring. Currently, the price for Trump being elected president (i.e., "Bet Yes") is $0.53, indicating that Trump is considered to have a 53% chance of being elected president. If the price rises to $0.7, it means Trump has a 70% chance of being elected.
Trump has repeatedly shared the odds from Polymarket on his media platform, Truth Social. As of the time of writing, the total bets for this prediction have reached $63.31 million.
Conclusion
The primaries are the first stage of the U.S. presidential election and will continue until June. After the primaries, both the Democratic and Republican parties will hold their national conventions to formally nominate presidential and vice-presidential candidates. This year's U.S. election voting day is November 5. As the U.S. presidential election activities continue to unfold, Trump will remain a monopolizer of public attention, and crypto assets related to Trump will continue to have long-term speculative potential.
