Donald Trump has taken a commanding lead over Joe Biden - in the world of political meme coins, at least. Crypto tokens linked to former President Trump...
FILE PHOTO: Combination picture showing U.S. President Joe Biden and Republican presidential candidate and former U.S. President Donald Trump - Donald Trump has taken a commanding lead over Joe Biden - in the world of political meme coins, at least.
By comparison, Jeo Boden, which launched in March this year, jumped to as much as $648 million days after its launch before gradually sliding to $87 million. Political tokens are a fraction of the $46 billion market value of meme coins - hyper-speculative, volatile and risky cryptocurrencies often driven by internet jokes - which are themselves a niche segment of the broader $2.3 trillion cryptocurrencies, per Coingecko estimates.
Traders on Polymarket, a crypto site where users place bets with stablecoins on future events, were betting on a 59% chance that Republican challenger Trump would unseat Democratic incumbent Joe Biden.
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