- Republican candidate Donald Trump survives an assassination attempt in Pennsylvania.
- The presidential candidate’s survival clinched a bullish revival for Bitcoin & Ethereum.
- Trump-styled meme coin MAGA (TRUMP) reacted strongly to the political turmoil.
The Republican presidential candidate Donald Trump was entangled in a likely assassination attempt during a campaign rally speech in Pennsylvania. Last Saturday, the Former President was speaking at Butler Farm Show Grounds, approximately 50 miles from Pittsburgh when panic set off after a series of consecutive loud bangs; Trump was rushed off the stage with a bloodied face.
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Trump claimed he was โshot in the ear,โ going as far as to say, โIโm supposed to be deadโ the following morning. The dramatic developments have set off a hot wave in the blockchain realm, with all Trump-themed coins adding to their market caps.
Crypto Swings Up on Shooting
The crypto markets have reacted gracefully to the messy political scene in the United States. On Sunday, the MAGA (TRUMP) meme coin surged by over 40%, leading to a weekly high of $9.51. This has stopped the monthly price drainage for TRUMP, which is still 33% down over the past 30 days.
As the general crypto market rebounded, with all the TOP 5 largest digital assets recording over 4% gains, crypto enthusiasts on X are jokingly thanking Trump for the crypto recovery rally. For instance, trader Crypto Chrys remarked: โBasically, THANKS GOD that protected him and kept him aliveโฆโ
However, not everyone agrees that the 4% bounce-back rally for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other major-cap altcoins was caused by Trump, who previously proclaimed himself the โCrypto Presidentโ at a fundraiser in San Francisco in June 2024. โIt’s not trump lmfao.ย The market was already bullish. Ever heard of charts?โ utters crypto aficionado 10000XAI.
Whale Gains Big on $8.85M TRUMP Sell-Off
As the muddy political stage in the United States raises further concerns about the upcoming election in November, the young PolitiFi niche is approaching $1 billion in market cap, now counting at $940,891,502. Amidst the political turmoil, smart money accounts on the Ethereum chain managed to bank on TRUMPโs upswing.
An Ethereum wallet owned by famous crypto trader Gigantic Rebirth sent a $ 1.08 MAGA (TRUMP) coin deposit to the BTSE crypto exchange. At stamped transaction time, the offloaded amount was worth $8.85 million, giving the Ethereum whale $8.3M in profit.
Late in 2023, this crypto whale spent 540,700 Tether USD (USDT) to buy 1.08M TRUMP at an average price of $0.50, according to LookOnChainโs findings. Upon further research by DailyCoin, it was discovered that the aforementioned whale has only $736.88 of TRUMP left in the balance, confirming the enormous sell-off.
On The Flipside
- Despite a market-wide bounce back, smaller Trump-themed meme currencies plummeted in double digits.
- Ethereum-based Maga Hat (MAGA) and Super Trump (STRUMP) sank 20.5% and 9% in 24 hours, respectively.
Why This Matters
Crypto integration and regulation have been hot topics this election season, and Trump has labeled himself the first pro-crypto President of the United States.
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