Anyone who is familiar with the crypto scene will tell you that there is an abundance of options. Whatever type of token you are looking for, it probably already exists or will exist soon. This is good news for those who are looking for new tokens to invest in. As Alan Draper writes, investors are always on the lookout for new crypto projects to put money into and the market always provides.
Interestingly, one of the promising tokens for this year seems to be TrumpCoin, a token that is associated with the former US President and current Presidential candidate. This comes as the token has seen a 55% increase in value. Much of this increase is tied to Trump’s upcoming appearance at a Bitcoin Conference in Nashville.
The growth of the crypto industry has meant that conferences take place all over the world but the Bitcoin Conference, which will be held from July 25 to 27, 2024 in Nashville, might just have a high-profile guest. The news has been reported by local media, who say that Trump will be speaking at the event, though this was prior to the recent attempt to assassinate him. As soon as this news hit the web, TrumpCoin saw a 55% surge in value, hitting the $0.013 mark.
It is worth noting, however, that TrumpCoin belongs to the category of crypto tokens that do not have practical application. Instead, they are based solely on market hype, such as the kind generated by the announcement. In contrast, there are several other tokens that can be used on platforms like crypto betting sites. Crypto gambling has become especially popular over the last year and shows yet another use case for the tokens. However, there are no casinos that currently accept TrumpCoin.
This upcoming appearance is the latest in Trump’s efforts to brand himself as the candidate for the crypto community. He made history months ago as the first US Presidential candidate to accept crypto as a donation and even scored a public endorsement from the founders of the Gemini exchange.
Speaking at a Bitcoin conference is another step towards securing the support of digital asset lovers. In contrast, his opponent President Joe Biden has not publicly embraced the community and has even been called out by Trump himself for his lack of support. In light on the recent assassination attempt, it would be even more high-profile for the former President to appear in person, showing the industry that he is unafraid to back it. If it goes on as planned, it will be one of his first appearances since the shooting and will bring even more attention to both the event and the industry.
While it might have seemed like a pipedream years ago, the cryptocurrency industry is playing a significant role in the upcoming US elections. This can be put down to the fact that cryptos are simply more valuable these days. Between the spot ETFs being approved, new price highs for major tokens, and more public visibility, the industry has more sway and in an election as high-stakes as this, every bit of support matters.
It also shows just how intertwined tokens are with public figures as TrumpCoin is one of many cryptos created in reference to the controversial politician. As the election progresses, we will likely see more pro-crypto moves by Trump and perhaps, more corresponding market movements.
