The Daily: Bitcoin, memecoins and NFTs gain after failed Trump assassination attempt

In today's Daily, bitcoin, memecoins and NFTs gain after Saturday's failed Trump assassination attempt, analysts suggest a "Goldilocks scenario" is emerging for bitcoin miners amid the "Trump factor" and more.

 

Meanwhile, TheBlockPro's new report, "Evolution of Consumer Applications on Blockchains,"  reveals  how consumer apps are poised to change crypto.

 

Plus, BlackRock CEO Larry Fink  calls  bitcoin a "legitimate financial instrument."

 

Let's get started.

• The broader cryptocurrency market also rose in what some commentators have called the "Trump pump," with the presumptive Republican nominee's survival increasing his chances of winning the election.
• Decentralized prediction market platform Polymarket now shows a 72% chance for Trump to win the U.S. presidential election — up from about 60% around the time of the incident — with President Joe Biden's victory odds at just 18%.
• Existing Ethereum-based memecoin MAGA (TRUMP) jumped 50% to $9.51 after the attack, and the Solana-based misspelled token Doland Tremp (TREMP) soared 85% to $0.73.
• Meanwhile, a new set of Solana-based memecoins launched as Trump got to his feet, raising his fist in the air and shouting "fight" following the shooting.
• Fight (FIGHT) has emerged as one of the most successful, gaining more than 500% over the past 24 hours to reach a price of $0.018 and a market cap of $18.1 million, according to DEX Screener.
• Not to be outbid, the floor price of the former President's official Polygon-based NFT collection, Trump Digital Trading Cards, soared over 125% to 925 MATIC ($500) on Sunday, per NFT Price Floor.
• Despite the assassination attempt, Trump told organizers he remains committed to speaking at the Bitcoin 2024 conference in Nashville later this month.

'Goldilocks scenario' emerging for bitcoin miners amid 'Trump factor'

• The crypto market interprets a Trump win as "more positive" for crypto, according to Bernstein, including advocating for self-custody and bitcoin mining.
• "Bitcoin’s price is positively correlated with the probability of a Trump presidency and will remain sensitive to election updates," the analysts said, expecting mining stocks to follow suit.
• Additional tailwinds for miners include an extensive pipeline of power access, AI diversification opportunities and greater mining technology in the U.S., with Jack Dorsey's Block recently agreeing to supply Core Scientific with its new 3nm mining chip.

South Korea proposes pushing back crypto gains taxation to 2028

• A 20% tax on crypto gains was initially set for 2022 but has already been postponed twice due to heavy backlash from investors and industry experts.
• The proposed bill argues that if crypto gains are taxed in the country, negative investor sentiment could drive investors away from the market.
• South Korea hosts one of the world's largest active cryptocurrency markets. In the first quarter of 2024, the Korean won was the most-used fiat currency for crypto trading, surpassing the U.S. dollar.

TOP invests in Akedo to build Telegram games in TON blockchain ecosystem

• Akedo's first Telegram game, "Akedog," set to launch on July 18, is a "tap-to-earn" style game that enables players to click to get their Akedog NFT, aiming to tap into Telegram's 900 million user base.
• Buzzy Telegram clicker games like Notcoin and Hamster Kombat have surged in popularity in recent months. These games allow players to earn TON blockchain-based tokens for performing simple tasks like tapping on their screens.
• TOP is an ecosystem venture builder supporting notable projects on TON, including Tonkeeper, GetGems and Tonstakers.

Dormant address containing $60 million in bitcoin wakes up after nearly 12 years

• The wallet, first identified by Whale Alert, received the bitcoin in 2012 when it was worth just $12,000 and has seen an approximate 500,000% increase in value during the period of inactivity.
• The reason for the transfer remains unknown, as does the identity of the wallet's owner.

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