The past week has been a rollercoaster ride in the world of cryptocurrency and politics. Trump-themed meme coins are making waves with impressive gains, leaving popular cryptos like Dogecoin and Shiba Inu in the dust. Meanwhile, the 2024 U.S. presidential race is heating up, with the odds favoring Donald Trump over Kamala Harris. In the crypto sphere, Bitcoin broke the $70k mark, and Gen-Z is redefining financial freedom. Let's dive into the details.
Trump-Themed Meme Coins Rally
Tokens like Maga Memecoin (CRYPTO: TRUMP), MAGA Hat (CRYPTO: MAGA), and Donald Tremp (CRYPTO: TREMP) experienced a surge on Monday, thanks to Trump's increasing election odds. Data from Coinmarketcap showed these political meme coins nearing a total market cap of $700 million, up 11% in just 24 hours. Trump currently holds a 66.1% chance of winning, with Kamala Harris trailing at 33.9%, according to Polymarket traders.
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Nate Silver's Election Forecast
American statistician Nate Silver sees the 2024 U.S. presidential race as "a near coin flip," with Trump narrowly leading Harris. As of Oct. 31, Silver's forecast gives Trump a 53.4% chance of winning, compared to Harris's 46.2%. This tight margin underscores the intense polarization and competitiveness of this election.
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Gen-Z's Path to Financial Freedom
According to Chamath Palihapitiya, Gen Z is decoupling financial freedom from traditional 9-5 jobs. Palihapitiya noted that an increasing number of young men are engaging in side activities such as trading cryptocurrencies like Bitcoin BTC/USD and options on platforms like Robinhood and Coinbase. This shift signifies a departure from the traditional notion that wealth is primarily earned through one's job.
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Bitcoin Breaks $70K
Leading cryptocurrencies surged Monday, with Bitcoin breaking through $70,000 after an almost five-month hiatus. The world's largest cryptocurrency breached this elusive level late evening, building on the positive momentum from the weekend. Ethereum also sailed to $2,585 after shifting sideways for the early part of the day.
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Cat-Themed Coins Rally
Cat-themed coins like Mog Coin MOG/USD and Popcat POPCAT/USD rallied on Tuesday as the broader altcoin market cheered Bitcoin's BTC/USD leap above $70,000. Coinmarketcap data showed cat-themed tokens coins approaching a total market capitalization of $5 billion, up 9.3% over 24 hours. Meme coin trader meme-millions predicted cat coins could reach a valuation of $20–$50 billion.
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- Bitcoin, Ethereum, Dogecoin Dip After Strong Tuesday—Analysts Predict 'Unprecedented Highs Can Be In Development'
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This story was generated using Benzinga Neuro and edited by Anan Ashraf.
