Former President Donald Trump’s odds of winning the presidential election have increased to 72% after an attempted assassination during a rally in Pennsylvania, as per crypto prediction market Polymarket.<\/p>\n
Contrary to traditional polls, Polymarket and PredictIt have observed a shift in Trump’s favor post the incident, according to a recent report by Fortune.<\/p>\n
Prediction markets enable traders to exchange contracts based on uncertain future events, indicating odds. Following the assassination attempt, Polymarket shows Trump’s chances rising from 60% to 72%, while Biden’s odds slightly increased to 18% and Kamala Harris’ dropped to 5%.<\/p>\n
PredictIt also reflects a similar trend with Trump’s odds at 67% and Biden’s at 26%.<\/p>\n
The crypto market has seen notable reactions after the incident, especially in the prices of major tokens, with recent rebounds. Trump’s statement about being the “crypto president” if re-elected has fueled the crypto market rally.<\/p>\n
Bitcoin surged by 6%, surpassing $63,000 for the first time in three weeks, after hitting a low of $53,500 on July 5th. The largest cryptocurrency recorded gains of 6% and over 13% in the 24 and seven-hour time frames.<\/p>\n
Stocks related to crypto, like Coinbase Global, Marathon Digital Holdings, and Riot Platforms, also experienced upward momentum with gains of 10%, 7%, and 6% respectively.<\/p>\n
Meme coins parodying the former president, such as MAGA, witnessed significant increases, rising over 45% in seven days and 7% in the past 24 hours, currently trading at $8.43.<\/p>\n
However, MAGA has seen a 66% decrease in trading volume and a 53% drop from its all-time high of $17.5 in June 2024, as per CoinGecko data.<\/p>\n
<\/p>\n
Fortune also mentions an indirect impact of the shooting on Trump’s business ventures, as shares of Trump Media and Technology, the parent company of Truth Social, surged by 47% post the incident, potentially adding $1.8 billion to Trump’s total wealth, showcasing increased investor interest in Trump-owned businesses.<\/p>\n
Image source: Toledo Blade, chart source: TradingView.com<\/p>\n","protected":false},"excerpt":{"rendered":"
Former President Donald Trump’s odds of winning the presidential election have increased to 72% after an attempted assassination during a rally in Pennsylvania, as per crypto prediction market Polymarket. Contrary to traditional polls, Polymarket and PredictIt have observed a shift in Trump’s favor post the incident, according to a recent report by Fortune. Growth in […]<\/p>\n","protected":false},"author":1,"featured_media":15738,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Traders Favor Trump Victory after Shooting Incident - Bitrabo","description":"Former President Donald Trump's odds of winning the presidential election have increased to 72% after an attempted assassination during a rally in Pennsylvania,"},"footnotes":""},"categories":[316],"tags":[2165,989,6156,504,2394,6157,6159,976,2377,6158,1816],"class_list":["post-15737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bet","tag-big","tag-climb","tag-crypto","tag-odds","tag-postshooting","tag-shooting","tag-traders","tag-trump","tag-trump-victory","tag-victory"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=15737"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/15737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/15738"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=15737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=15737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=15737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}