Kamala Harris Picking Tim Walz as Her Running Mate Sends Her Crypto Indicators Soaring

On Tuesday when US Vice President Kamala Harris selected Minnesota Governor Tim Walz as her running mate, two Harris-related crypto indicators—at least one of them signaling her chances of winning the presidential election—shot up.

Two crypto indicators—at least one of them directly linked to her chances of winning the 2024 presidential election—shot up on Tuesday after US Vice President Kamala Harris chose Minnesota Governor Tim Walz as her running mate.

Prediction markets platform Polymarket users gave Harris her highest odds yet in the 2024 election, boosting her chances to 46% probability of becoming the next president, an increase from 6% just three weeks ago. Meanwhile, the chances of presumptive Republican nominee Donald Trump decreased 19 percentage points in the same period to 53% at the last check.

Also, a memecoin linked to Kamala Harris jumped in price. According to DEXTools data, KAMA, a Solana memecoin with over 11,300 holders, climbed nearly 7% in the past hour and almost 13% in the past six hours to trade at roughly 1.2 cents, giving it a market cap of over $12.9 million.

A single KAMA token trades for just over a penny. (Birdeye)

Memecoins tied to Trump had varying performances. TREMP, a token based on the misspelling of the former president’s name, jumped almost 10% in the past four hours to trade at 23.1 cents, giving it a market cap of $23.1 million. On the other hand, DJT, a different memecoin based on Trump’s initials that Martin Shkreli has claimed he and Barron Trump created, plunged 87% in the last 24 hours.

According to Moe Vela, a former senior advisor to then Vice President Joe Biden and now a senior advisor for blockchain project Unicoin, VP Harris is currently “on a roll” and has “incredible momentum” in the presidential race, which is evident in recent polls in swing states.

For example, a Bloomberg News/Morning Consult poll of registered voters in battleground swing states, which was published last Tuesday, showed that VP Harris had closed the distance in polls.

Read More: Polymarket Surges Despite US Presidential Election Result

Vice President Harris’s running mate pick comes less than two weeks after fourteen congressional policymakers from the US House of Representatives wrote a letter to the Democratic National Committee and Vice President Harris. In the letter, they urged the party to take a more “forward-looking approach to digital assets and blockchain technology.”

The representatives called on the Democratic Party to include pro-digital asset language in the party’s platform, select a vice president candidate with a track record with digital assets, pick an SEC Chair who has an innovative approach, and engage with leaders in the crypto space.

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