The world of politics and cryptocurrencies has been a wild ride over the past week. Popular cryptocurrencies like Dogecoin and Shiba Inu are falling behind as Trump-themed joke coins acquire remarkable traction. In the meanwhile, Donald Trump is expected to win the 2024 U.S. presidential election against Kamala Harris. Gen-Z is redefining financial independence, as Bitcoin broke the $70,000 milestone in the cryptocurrency space. Let’s examine the specifics.
Rally of Trump-Themed Meme Coins
Due to Trump’s growing chances of winning the election, tokens such as Donald Tremp (CRYPTO: TREMP), MAGA Hat (CRYPTO: MAGA), and Maga Memecoin (CRYPTO: TRUMP) saw a spike on Monday. These political meme currencies increased 11% in a single day, approaching a total market worth of $700 million, according to data from Coinmarketcap. According to Polymarket traders, Trump has a 66.1% probability of winning right now, while Kamala Harris is lagging at 33.9%.
The Road to Financial Freedom for Generation Z
Chamath Palihapitiya claims that Gen Z is severing the link between typical 9–5 occupations and financial independence. Palihapitiya observed that more and more young men are taking part in side pursuits like trading options on websites like Coinbase and Robinhood and cryptocurrencies like Bitcoin BTC/USD. This change represents a break from the conventional wisdom that one’s employment is the primary source of wealth.
Bitcoin Breaks $70,000
The top cryptocurrencies rose on Monday, with Bitcoin surpassing $70,000 after a nearly five-month lull. Building on the bullish momentum from the weekend, the biggest cryptocurrency in the world broke over this coveted milestone late in the evening. After moving sideways for the first half of the day, Ethereum also soared to $2,585.
The Election Prediction of Nate Silver
The 2024 U.S. presidential election, according to American statistician Nate Silver, is “a near coin flip,” with Trump just ahead of Harris. According to Silver’s prediction, Trump has a 53.4% probability of winning as of October 31, while Harris’s is 46.2%. This narrow margin highlights how fiercely fought and polarized this race is.
Rally of Cat-Themed Coins
As the larger altcoin market supported Bitcoin’s BTC/USD jump beyond $70,000 on Tuesday, cat-themed currencies like as Mog Coin MOG/USD and Popcat POPCAT/USD surged. According to Coinmarketcap statistics, cat-themed currencies have increased by 9.3% in the last day and are now close to $5 billion in total market value. Meme-millions, a meme coin broker, estimated that cat currencies would be worth between $20 and $50 billion.
