According to calculations and reports from many mainstream media in the United States, former US President Donald Trump won the Republican primary election held in Michigan on the 27th. The former president has been the focus of news and a topic of discussion on social media during his consecutive victories in the primaries for the 2024 presidential election in the United States.
As early as February 6, Andrew Kang, co-founder and partner of crypto venture capital firm Mechanism Capital, publicly announced a position in Trump-themed crypto assets. He pointed out: "The value of meme coins lies in their ability to attract public attention, and Trump is undoubtedly one of the most attention-grabbing figures in the world."
If you start building positions in these Trump-related Meme coins and NFTs from February 6, what kind of investment income can you get now?
Meme Coin: TRUMP
TRUMP (MAGA) launched on August 11, 2023. MAGA is the abbreviation of "Make America Great Again", which is Trump's famous political slogan. A crypto wallet believed to be directly owned or operated by Trump currently holds 580,000 TRUMP, worth more than $3.6 million. Currently, the token's market value has reached $290 million, making it the ninth largest meme coin.
On February 6, the price of TRUMP was US$2.2. Based on the latest price of US$6.25, the TRUMP position opened on that day has already achieved an investment income of 184%.
NFT: Donald Trump Digital Trading Card
On December 16, 2022, Trump announced for the first time on social media the launch of his personal themed NFT collection series "Donald Trump Digital Trading Card", with a total of 45,000 pieces and a single price of US$99. Within two days after its launch, the floor price of the Donald Trump Digital Trading Card once exceeded 0.6 ETH. Based on the exchange rate of ETH against the U.S. dollar at the time, its floor price was once as high as $700.
On February 6, the floor price of Donald Trump Digital Trading Card was 0.225 ETH. Calculated based on the current floor price of 0.2299 ETH, the current currency-based investment return rate for opening a position on Donald Trump Digital Trading Card on that day was 2.17%.
Polymarket "2024 Presidential Election Winner" Prediction
In addition to purchasing meme coins and NFTs, you can also enjoy the benefits of Trump's winning streak in the primaries by participating in the "2024 Presidential Election Winner" prediction on Polymarket. The starting trading price for each winning outcome is $0.5, and the price will change based on the amount users bet on the winning and losing sides. The price (odds) represents the probability of the current event happening. The current price of Trump being elected president (i.e. "Bet Yes") is $0.53, which means that Trump is considered to have a 53% probability of being elected president. If the price rises to $0.7, it means that Trump has a 70% probability of being elected.
Trump has reposted his odds on Polymarket several times on Truth Social, the media he founded. At the time of writing, total bets on this market reached $63.31 million.
Summarize
The primary election is the first phase of the US presidential election and will last until June. After the primaries, the Democratic and Republican parties will hold their respective national conventions to formally nominate candidates for president and vice president. This year's U.S. election voting day is November 5. As the U.S. election campaign continues to unfold, Trump will continue to gain the monopoly of people's attention, and Trump-related cryptoassets will also have room for long-term speculation.
