Biden and Trump will hold their first presidential debate tonight
Ahead of Thursday's crucial presidential debate between U.S. President Joe Biden and cryptocurrency-friendly Republican candidate Donald Trump, the cryptocurrency market showed no signs of excitement.
As of press time, TRUMP, the largest token in PoliFi, was trading at nearly $8.50, down 0.5% in 24 hours. According to Coingecko, its Solana-based token TREMP was trading down 7.2% to $0.74, while its Joe Biden-themed token BODEN was trading down 16% to $0.13.
Neil Roarty, an analyst at investment platform Stocklytics, said that ahead of tonight's first presidential debate, cryptocurrency traders will be watching closely for clues about what the November election means for bitcoin and the broader industry. The consensus in the cryptocurrency community appears to be that a Trump victory would benefit the industry. Aside from the verbal support he gives, bitcoin tends to perform well during times of political and economic uncertainty, and Trump's second term as president could see more of this.