PolitiFi Tokens Plunge as Trump Claims Presidential Victory
As investors made predictions about the outcome of the US Presidential Elections, PolitiFi tokens soared after weeks of excitement. However, there was a sharp decline in the PolitiFi token market following the election of Republican Donald Trump on November 6. These tokens are currently experiencing a sharp fall after first being fueled by election speculation.
PolitiFi Market Cap Sinks by 21.5% as Election-Themed Token Demand Fades
With the total value of all PolitiFi tokens falling by 21.5% to $532.5 million, the market as a whole has taken a serious hit. This decline stands in stark contrast to the 10% increase in the entire market capitalization of the cryptocurrency market during the past day. This result is particularly disheartening for investors who placed bets on PolitiFi tokens as election-related assets.
Significantly, the drop in PolitiFi tokens indicates a reduction in demand for coins with an election theme. With Trump’s triumph, even tokens with Trump-themed have lost value, despite the fact that many investors expected significant gains if their candidate won. The decline signals raised doubts about the viability of election-tied cryptocurrencies and reduced faith in PolitiFi coin’s future.
Election Aftermath: Kamala Harris and Trump-Themed Tokens See Sharp Drops
The most significant losses have been incurred by top PolitiFi tokens associated with Democratic candidate Kamala Harris. Once-popular wagers, these tokens saw a sharp decline following her defeat. Investors who viewed these tokens as politically speculative assets were disillusioned, as evidenced by this steep decrease.
It’s interesting to note that tokens with Trump themes also fell after the election. Even winning candidates’ tokens are having trouble, as evidenced by the 48.9%, 50.6%, and 59.8% declines in TRUMP, MAGA, and TREMP coins, respectively. As traders swiftly shift their focus away from election-driven assets, this market reaction suggests a declining desire for PolitiFi coins.
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