An assassination attempt propelled Trump to the presidency? The Web3 market has really risen

As the 2024 U.S. presidential election approaches, the cryptocurrency market, particularly the meme coin sector closely related to political events, has shown significant growth and activity. Tokens associated with former President Donald Trump, such as TRUMP, MAGA, and TRUMP2024, have performed particularly well in the market. This is largely due to Trump's recent proactive measures in support of the cryptocurrency sector, which have garnered widespread support.
At the same time, the Democratic Party and current President Biden are rapidly adjusting their stance on cryptocurrencies, softening their position to ensure electoral success and beginning to embrace previously contentious areas. The potential and influence of cryptocurrencies have clearly become an important force that candidates cannot ignore.
The recent market rebound has also been strongly stimulated by the assassination attempt on Trump. According to Greeks.live analyst Adam, this week has been relatively calm in terms of macro events, but the halt of cryptocurrency sales by the German and American governments has led to a rapid rebound in the crypto market, with overall sentiment significantly improving. Data shows that meme coins related to Trump have generally surged, with TRUMP rising as much as 68% within 24 hours, and MAGA (TRUMP) and MAGA Hat increasing by 30.9% and 30.7%, respectively. Additionally, the "Trump Assassination Attempt" meme coin FIGHT on Solana saw a staggering 4256% increase in 24 hours, with a market cap exceeding $2.5 million.

More importantly, data from Polymarket indicates that following Trump's stable recovery from the shooting, his probability of winning the election has risen to 70%, a new high, far exceeding Biden's 15%. This undoubtedly further ignited market enthusiasm and investment confidence in Trump-related cryptocurrencies.
These phenomena indicate that Trump-related tokens are becoming the focal point of the cryptocurrency market, and the following sections will delve into the logic and market impact behind this trend.

Trump Survives Assassination Attempt, Election Prospects Soar

On July 13, former U.S. President Trump was shot at a campaign rally in Pennsylvania, but fortunately, he was not seriously injured. This incident not only caused a stir in the political arena but also had a significant impact on the cryptocurrency market. As Trump's health stabilized, his supporters and the market quickly reacted, leading to a substantial rise in the prices of Trump-related meme coins, reflecting market confidence and expectations in Trump.
Just before this incident, the Republican National Committee released a draft party platform for the 2024 election, explicitly supporting the cryptocurrency industry and vowing to end the "illegal crackdown" on cryptocurrencies. The release of this platform draft garnered widespread attention, especially within the cryptocurrency community. The Republican Party pledged to defend Bitcoin mining rights and allow cryptocurrency holders to self-custody their assets, opposing the creation of a U.S. Central Bank Digital Currency (CBDC). These policies are seen as part of a "Trump version" of America's future policy blueprint, aimed at attracting more voter support.
Meanwhile, Trump has actively engaged in cryptocurrency-related activities, strengthening his influence in the sector. On June 12, Trump stated on his Truth Social platform that he hoped Bitcoin mining activities would remain in the U.S. to enhance national control over cryptocurrencies and economic influence. That evening, Trump held what was termed a "presidential-level roundtable on Bitcoin mining" at his Mar-a-Lago estate with representatives from several Bitcoin mining companies. Attendees included executives from CleanSpark, Riot Platforms, and Marathon Digital, where Trump expressed his support for Bitcoin mining and promised to advocate for miners from the White House.

These positive policies and statements quickly reflected in the market. As favorable news related to Trump continued to emerge, the meme coin market performed exceptionally well. For example, CoinGecko data shows that the TRUMP token surged by 68% within 24 hours, while MAGA and MAGA Hat increased by 30.9% and 30.7%, respectively. Additionally, the "Trump Assassination Attempt" meme coin FIGHT on Solana saw a 4256% increase in 24 hours, with a market cap exceeding $2.5 million. These figures indicate a positive market reaction to Trump's support.
Trump's shift in cryptocurrency policy is not only reflected in public statements but also in specific fundraising activities. In early June, Trump attended an event hosted by tech venture capitalists in San Francisco, raising $12 million, with attendees including Coinbase executives and Gemini co-founders Winklevoss brothers, among other leaders in the cryptocurrency industry. The highest ticket price for the event was $500,000 per couple, and all tickets sold out, demonstrating strong support from the cryptocurrency community for Trump.
These actions and market responses indicate that Trump is leveraging the emerging field of cryptocurrencies to solidify his campaign advantage and attract more voters and financial support. As the election approaches, the cryptocurrency market will continue to be an important battleground for political maneuvering.

Meme Coin Prices Surge Due to Campaign Concepts, Favoring PoliticFi?

The assassination attempt on Trump has triggered significant volatility in the cryptocurrency market, particularly with meme coins related to Trump performing exceptionally well. However, the hype surrounding these meme coins is not solely due to Trump; it is also fueled by social media and celebrity endorsements.
Trump's supporters and the market reacted very quickly. On July 13, after news broke that Trump was stable following the shooting at the Pennsylvania campaign rally, the prices of related meme coins surged significantly. For instance, the TRUMP token rose by 68% within 24 hours, while MAGA and MAGA Hat increased by 30.9% and 30.7%, respectively. However, as news of Trump's discharge from the hospital emerged, the prices of these meme coins saw a decline, indicating the market's sensitivity to short-term events. CoinGecko data shows that STRUMP fell by 15.8% within an hour.
Another major driving force behind this hype is the widespread discussion and support from celebrities and social media. Tesla CEO Elon Musk was one of the first tech moguls to publicly support Trump, frequently voicing his support on social media and comparing Trump to great presidents like Roosevelt.
OpenAI CEO Sam Altman also broke his long silence on social media to express support for Trump following the shooting. Microsoft CEO Satya Nadella, Apple CEO Tim Cook, and Amazon founder Jeff Bezos also tweeted their support for Trump and condemned the violent incident.
However, not everyone believes that Trump's support for cryptocurrencies is genuine. Former BitMEX CEO Arthur Hayes pointed out in his blog post "Hot Chick" that Trump's friendly attitude towards cryptocurrencies is more about winning votes than truly supporting the sector. Hayes believes that many cryptocurrency experts and investors are misled by Trump's rhetoric, blindly donating to his campaign in hopes that he will stop the crackdown on cryptocurrencies, but this notion is naive.
Meanwhile, billionaire Bill Ackman also publicly announced his support for Trump, stating that this decision was the result of careful consideration and extensive data analysis. Ackman's support further fueled market interest in Trump-related meme coins, even receiving a retweet of support from Elon Musk. These celebrity endorsements undoubtedly intensified the market's enthusiasm for Trump-related tokens.
In summary, the hype surrounding Trump-related meme coins is driven not only by his statements and events but also by the amplification from social media and celebrities. However, the volatility of the market and the risks of short-term speculation cannot be ignored, and investors should remain cautious and rational in viewing the market performance of these tokens. Next, we will delve into the market outlook and the underlying risk factors.

Trump's Election Will Definitely Favor Bitcoin Market, Future Worth Looking Forward To!

The assassination attempt on Trump has not only ignited the meme coin market but also triggered widespread volatility in the cryptocurrency market, gold market, and stock market. Following the incident, Bitcoin prices quickly soared, breaking the $60,000 mark. This fluctuation indicates that the influence of political events on the cryptocurrency market is gradually increasing.
Firstly, the reaction of the cryptocurrency market is particularly evident. As Trump expressed support for cryptocurrencies, market sentiment surged, leading to significant increases in related tokens like TRUMP and MAGA in a short period. However, this upward trend also comes with high risks and volatility. In the short term, the market may experience dramatic fluctuations driven by political rhetoric and celebrity effects, requiring investors to exercise caution.
The gold market has also been affected. As a traditional safe-haven asset, gold saw some gains following the assassination attempt on Trump. The uncertainty and increased risks in the market prompted investors to flock to gold for safety. However, gold's gains were relatively stable, reflecting its enduring value as a safe-haven asset.
The stock market exhibited a more complex reaction. Following the Trump incident, the U.S. stock market experienced brief fluctuations, particularly in industries closely tied to Trump's policies, such as energy and cryptocurrency-related companies. The market's expectations of Trump potentially regaining power led to some companies' stocks being sought after, but overall market sentiment remained cautious.
Looking ahead, the influence of political events on the cryptocurrency market will persist. As the 2024 U.S. presidential election approaches, similar events may occur frequently, leading to increased market volatility. Investors need to pay attention to political trends, allocate assets wisely, and diversify risks.
Overall, the assassination attempt on Trump reveals the profound impact of political events on financial markets. The cryptocurrency market, gold market, and stock market may continue to experience fluctuations in the short term due to these influences. In this environment, investors should remain vigilant, closely monitor market dynamics, and make rational decisions.