Donald Trump Opens 21-Point Lead In 2024 Presidential Race, According To Crypto Bettors
Portfolio Pulse from Murtuza Merchant
Donald Trump has a 21-point lead over Joe Biden in the 2024 presidential race according to Polymarket, a crypto-based prediction platform. This lead is attributed to Trump's pro-crypto stance and the crypto community's bias. On PredictIt, a traditional prediction market, Trump's lead is narrower. Additionally, Coinbase's upcoming earnings report is anticipated, with a forecasted trading volume increase to $174 billion.
June 11, 2024 | 7:07 pm
News sentiment analysis
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POSITIVE IMPACT
The broader trend of institutional adoption of crypto, evidenced by endorsements from major fund managers like BlackRock and Fidelity, contrasts with Bitcoin's original vision as a decentralized asset.
Institutional endorsements are likely to drive positive sentiment and investment in Bitcoin, potentially boosting its price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Coinbase's upcoming quarterly earnings report on June 14 is expected to show a trading volume increase to $174 billion, up from $154 billion last quarter. This aligns with the trend of institutional adoption of crypto.
The anticipated increase in trading volume to $174 billion suggests strong performance and growing institutional interest, which is likely to positively impact Coinbase's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 80