[Lunch Briefing] Political meme coin prices rise and fall… Impact of US President's son's conviction

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Bitcoin (BTC) price chart as of 1 p.m. on the 12th / Source = Bithumb


Domestic major virtual assets are showing mixed results. At 1pm on the 12th, Bitcoin (BTC) is trading at 94,871,000 won on Bithumb, down 0.79% from the previous day. Ethereum (ETH) fell 1.53% to 4,943,000 won. Tether (USDT) was traded at 1,405 won, up 0.29% from the previous day, and Binance Coin (BNB) was traded at 854,000 won, down 2.45%. Solana (SOL) fell 3.39% to 211,100 won.

The international market is also mixed. At the same time, on CoinMarketCap, BTC recorded $67,439.2, down 1.35% from the previous day. ETH was traded at $3510.28, down 2.18%. USDT rose 0.02% to $0.9998, and BNB fell 2.72% to $608.21. SOL was trading at $149.70, down 3.99%.



The total market capitalization of virtual assets is $2.44 trillion (approximately KRW 3361.832 trillion), an increase of $1.38 trillion (approximately KRW 1,901.364 trillion) compared to the same period last year. The fear and greed index of virtual asset data company Alternative.Me is in the 'greed' state at 72 points, down 2 points from the previous day.

The prices of political meme coins are fluctuating as US President Joe Biden's second son, Hunter Biden, was found guilty on charges of illegal gun possession.

According to Decrypt on the 11th (local time), 'BODEN', a Solana meme coin parodying President Biden, rose 9% for an hour after Hunter Biden's conviction and then fell. The price of 'HUNTBODEN', a parody of Hunter Biden, also soared 116% in less than 30 minutes after the ruling, but quickly fell. On this day, the prices of BODEN and HUNTBODEN were $0.18 and $0.0005, respectively, down 6 and 49% from the previous day.

Hunter Biden was found guilty on the same day on three felonies, including illegal gun possession. He was indicted last year on charges of purchasing and possessing a handgun in October 2018 while hiding the fact that he was a drug addict.

Meanwhile, the price of political meme coins also fluctuated after former U.S. President Donald Trump's conviction last month. Former President Trump's meme coins 'TRUMP' and 'MAGA' fell 25 and 16%, respectively, immediately after the ruling, but continued to rise.
Reporter Yang Jin-ha
jjing@rni.kr
< Copyright ⓒ Decenter, unauthorized reproduction and redistribution prohibited >

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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