CandleFocus Trump-Themed PoliFi Tokens Buck Bitcoin Downtrend as China Stimulus Hopes Return
2024-10-11
Author: Content Editor
Trump-themed PoliFi tokens have outperformed the overall crypto market this week as the Republican candidate's chances of winning the election surged on Polymarket. Bitcoin experienced a 4% slide on Thursday due to regulatory fears but has since recovered. Trump-themed tokens MAGA, MAGA HAT, and TREMP have all seen double-digit gains, with MAGA up 55% on-week. PoliFi tokens allow traders to speculate on the rise or fall of political figures. Meanwhile, Uniswap's native token, UNI, saw a 10% increase, and the CoinDesk 20 (CD20) index has remained relatively flat. In China, traders are anticipating more stimulus measures, while a paper from BCA Research suggests that recent stimulus may not have lasting effects.
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