Morning Minute | Trump Assassination Attempt Drives Crypto Rally
TylerD's Market Summary
📈 Trump Pump Incoming To Start Week
Saturday July 13 will go down as a critical day in American history.
Former President Donald Trump came within an inch of being killed during an assassination attempt at a rally in Pennsylvania (which was being live televised).
In the aftermath he has seemingly cemented a win in the 2024 US Presidential election.
And markets are responding.
What Happened?
After it became clear on Saturday evening that Trump would survive the assassination attempt, crypto immediately started surging.
Since Saturday night:
- Bitcoin $57,200 -> $62,400
- ETH $3,090 -> $3,330
- SOL $139 -> $151
So crypto majors are up 5-10% before the market even opens today, where large ETF inflows are expected.
Prediction markets have moved significantly as well.
Trump is now 71% to win the Election on Polymarket and 56% to win the Popular vote.
That was a 15% move in the primary election market, which also now believes that Biden will stay in the race as any other Dem nominee would be set up to lose to Trump now.
Meme leaders have moved even more than crypto majors.
Notable movers:
- MOG +15% to $765M
- POPCAT +24% to $720M
- BILLY +50% to $175M
- MICHI +30% to $100M
Certainly some strong green on the board to kick off the week here today.
Overall it seems the recent bearish downtrend has now been invalidated and reversed.
Why It Matters
The reason markets are moving is that Trump is now more expected than ever to win the election, and many expect his policies to boost the economy.
For crypto specifically, Trump is the candidate most prefer, especially after the GOP released its official pro-crypto platform last week.
Trump has even begun talks to use Bitcoin as a strategic reserve asset for the US to strengthen the dollar, a decision which would certainly move markets.
And yesterday his team confirmed he is still on to speak at Bitcoin Nashville.
Which just became the most important crypto conference in the world for 2024.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Ethereum led NFT trading volume with $3.6M (+3%) on the day; SOL was next with $3.5M, and then BTC with $2.8M
- ETH NFT leaders were mixed on the day; Pudgy -3% at 10.5 ETH, Milady -2% to 4.9, Azuki +3% to 4.1, and BAYC -2% to 9.85
- Renga and Lazy Lions were notable top movers on the day, jumping 30% each
- BTC NFT leaders were mostly red; NodeMonkes -2% at 0.166 BTC, Puppets +2% at 0.125 BTC, OMB -2% at 0.22 and Quantum Cats -1% at 0.275
- CyberKongz Decentralized announced a new Ordinals collection UNTITLED to be minted via the runes
- The Runes leaders were mostly green; DOG even at $475M mc, RSIC +5% at $89M mc, PUPS +4% at $49M
- CyberKongz' Decentralized team announced an on-chain quest to reveal their big announcement, coming via a Bitcoin wallet seedphrase for the solving party
- Solana NFTs were mixed; Mad Lads -9% at 70 SOL, SMB Gen 2 -2% at 30, DeGods +1% at 18, Tensorians even at 12.5
- Pudgy Penguins to release a new Pudgy Wizard toy tonight on NTWRK at 8:45 pm ET
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are very green this morning ahead of the weekly open; BTC +4% at $62,440; ETH +4% at $3,330, SOL +4% at $151
- Memecoin majors jumped 3-5% with DOGE +4%, PEPE +5%, WIF +3%, BONK +2%, MOG +15%
- The German Government is officially out of Bitcoin after selling its final reserves on Friday
🚀 Memecoin Movers
- $FIGHT (+470%, $18M market cap, SOL)
- $BILLY (+50%, $175M market cap, SOL)
- $MICHI (+29%, $100M market cap, SOL)
- $POPCAT (+24%, $720M market cap, SOL)
- $MOG (+15%, $760M market cap, ETH)
📈 NFT Floor Price Increase (ETH)
- Today - Ancient Seed (37%, 1.37 ETH Floor)
- Renga (36%, 0.13 ETH)
- Lazy Lions (33%, 0.1 ETH)
- Winds of Yawanawa (20%, 3.98 ETH)
- Overworld Incarna (16%, 0.61 ETH)
🗓 Upcoming Mints and Events
Today is a slow day of mints and events to start the week.
The highlight is likely Murakami with his 108 Flowers NFT collection minting for 2 days tied to its popular trading card game.
Otherwise, focus will be on equity and crypto market response to the "Trump Pump" widely expected to come today.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Champions Tactics (11:00 a.m. ET)
- Memes by 6529 (11:00 a.m. ET)
- Murakami - 108 Flowers NFT (12:00 p.m. ET)
- Rupture x Contraband - First Strike (12:00 p.m. ET)
Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.
