Bitfinex Predicts Volatility in PolitiFi Tokens Amid Trump-Biden Debate

Analysts at Bitfinex have forecasted significant volatility in political meme tokens ahead of the upcoming debates between U.S. presidential candidates Donald Trump and Joe Biden. This was reported by The Block.

Experts highlighted coins such as Super Trump (STRUMP) and MAGA (TRUMP) on Ethereum, as well as Jeo Boden (BODEN) and Doland Tremp (TREMP) on Solana.

According to analysts, these tokens may experience high volatility before, during, and after the televised debates, which will be broadcast live on June 27.

“What could be interesting and impact the market is the discussion on capital gains taxes in general and cryptocurrency taxation policies in particular,” stated Bitfinex.

According to CoinGecko, the market capitalization of PolitiFi tokens stands at $1.1 billion. Over the past day, this figure has increased by 4.5%.

In May, at the Libertarian Party’s national convention, Trump emphasized that the U.S. should become a leader in the crypto industry. He also promised to pardon Silk Road founder Ross Ulbricht if elected president.

In June, the presidential candidate dubbed himself the “crypto president” and criticized Democrats’ attempts to regulate the industry, also pledging to protect mining in the U.S. and globally.

Earlier, a wallet belonging to a presumed insider acquired large volumes of the meme token TrumpCoin (DJT) based on Solana, which the community attributed to Trump’s youngest son, Barron.

Later, on-chain sleuth ZachXBT published correspondence with investor Martin Shkreli, in which the latter admitted to creating the token with Barron Trump. Shkreli may face legal action.