Morning Minute | Crypto's Election Impact

TylerD's Market Summary

📈 Crypto's Election Impact

Last night's VP debate was a return to civility in American politics.

JD Vance and Tim Walz debated policy for nearly 2 hours last night without insults, slurs or yelling - it was quite refreshing.

And while crypto was not a debated topic last night, a new report shows that it is quite an important issue in the upcoming election.

What Happened?

According to a survey conducted by Consensys and HarrisX, 49%* of U.S. voters view a candidate’s stance on crypto as "important" in deciding their vote.

The survey polled over 1,600 registered voters and revealed that 85% of crypto owners want presidential candidates to support pro-crypto policies.

And a whopping 92% of crypto owners plan to vote in the 2024 election.

The findings come after Vice President Kamala Harris publicly acknowledged the crypto industry for the first time during her campaign, while Donald Trump has positioned himself as the pro-crypto candidate.

*It must be mentioned that the poll was conducted by Consensys (the team behind MetaMask) who has a vested interest in crypto being shown as important.

Key Numbers

Some key stats from the survey:

• 27% of voters are more inclined to choose the pro-crypto candidate
• 49% of voters view a candidate’s crypto stance as "important"
• 85% of crypto owners support pro-crypto policies
• 92% of crypto owners plan to vote in 2024
• 56% of voters back Trump’s crypto approach, while 54% expect Harris to clarify her position
• 44% believe the government is doing too little for crypto, and 78% see consumer protection as a critical issue

Why It Matters

Crypto is clearly becoming an important election issue, moreso than it ever has.

Nearly half of U.S. voters considering cryptocurrency a key issue.

And now both Democrats and Republicans have a significant opportunity to appeal to crypto-friendly voters (and have been acting on it to varying degrees).

The strong participation of crypto owners, especially in swing states, could make digital assets a crucial factor in deciding the outcome of the 2024 election.

And one thing is certain; in an election this tight, every vote matters.

🚚 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 $3.8M on the day; Solana was next with $2M, and then Bitcoin with $1.8M
• ETH NFT leaders were mostly even on low volume; Punks even at 28 ETH, Pudgy -1% at 10.15, BAYC +1% at 10.75 ETH; Boo Bears (+7%) & Bond Bears (+11%) notable movers
• Pudgy Rogs (+14%) and rektguy (+13%) were other notable top movers
• BTC NFT leaders were red down another 3-10%; NodeMonkes -8% at 0.171 BTC, Puppets -2% at 0.115 BTC, OMB -8% at 0.171, Quantum Cats -2% at 0.245
• The Runes leaders were also red; DOG -5% at $372M mc, RSIC -10% at $75M mc, PUPS -3% at $68M and BILLION DOLLAR CAT -15% to $50M
• Solana NFTs mostly chopped; Mad Lads -1% at 48.3 SOL, SMB Gen 2 even at 23, DeGods +1% at 16.2 SOL, Claynos -3% at 11.2
• Refik Anadol announced the first museum of AI art DATALAND coming to LA in 2025
• mmERCH and Seedphrase launched a new mint featuring luxury hoodies (with chance of Swarovski), limited edition Claire Silver pieces and more

💰 Token, Airdrop & Protocol Tracker

Here's a rundown of major token, protocol and/or airdrop news from the day:

🌎 Around Crypto and Web3

A few other Crypto and Web3 headlines that caught my eye:

• Crypto majors are down 4-7% this morning on middle east war concerns;  BTC -4% at $61,150; ETH -7% at $2,450, SOL -7% at $146; Wormhole was a top alt mover +22%
• Memecoin majors are more red; DOGE -10%, SHIBA -10%, PEPE -14%, WIF -10%, BONK -11%, POPCAT -5%, and MOG -13%
• EIGEN fell 13% on its first full day of trading to $660M mc ($6B fdv)
• A Bitwise XRP ETF application was confirmed after filing with the state of Delaware
• Jesse Pollack acted fast in his first day on the Coinbase Exec team, getting $DEGEN listed and promising to grow the Base economy (DEGEN +130% to $180M on the news)
• Diddy hired the same lawyer as SBF as he awaits trial for racketeering and sex trafficking charges

🚀 Memecoin Movers 

• $DEGEN (+130% to $175M market cap, BASE)
• $TYBG (+73% to $13M market cap, BASE)
• $MANYU (+53% to $31M market cap, SOL)
• $PESTO (+40% to $13.8M market cap, SOL)
• $DOGINME (+31% to $13M market cap, BASE

📈 NFT Floor Price Increase (ETH)

• GOU (256%, 0.07 ETH Floor)
• Beeple Genesis (44%, 99 ETH)
• Themes and Variations (28%, 1.9 ETH)
• Pudgy Rogs (13%, 0.32 ETH)
• Rektguy (13%, 0.45 ETH)

🗓 Upcoming Mints and Events

Today is another busy day as October rolls on, mostly focused in the art sector.

The highlight may be Lamborghini's collab announcement with Animoca coming at noon.

RalenArc, Transient Labs and Verse are all involved in mints today as well.

See the full list and dive in for more details with Swizzy's daily mint monitor. 

• MemeFwends (9:00 a.m. ET)
• Transient Labs - Collab Cooking 10:00 a.m. ET)
• RalenArc - Trace (11:00 a.m. ET)
• Lamborghini x Animoca (12:00 p.m. ET)
• Collector Crypt - RWA Cards (12:00 p.m. ET)
• Yoshi Sodeoka x Verse (1:00 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.d.warner@gmail.com.