Two coins bearing the name of new Democratic presidential candidate Kamala Harris have seen significant fluctuations over the past 24 hours.
Kamala Harris (Harris) has seen a significant increase of 115.46% over the past day and is currently trading at $0.001936.
This is a significant increase considering its market cap of $1.66 million and 24-hour trading volume of $545,423.
The token’s fully diluted market cap currently stands at $1.94 million, with a circulating supply of nearly 1 billion Harris tokens. However, the market has shown some caution, as evidenced by a 16.06% drop in its trading volume from the previous day.
Elsewhere, another Harris-themed coin, Kamala Horris (KAMA), has shown a contrarian trend, currently priced at $0.01718, up 26.7% in the past 24 hours.
KAMA has a market cap of $17.13 million and a 24-hour trading volume of $10.15 million. The token’s fully diluted value reflects its market cap, with a total circulating supply of around 995.5 million KAMA tokens.
Despite this positive move, historical data for Kama stock shows a more volatile journey. Over the past seven days, Kama stock has fallen by 25.4%, although it has remained up by 55.8% over the past 14 days.
This volatility may be a reflection of mixed market reactions to political shifts and broader uncertainty in the crypto space.
The Bigger Picture: Market Sentiment and Political Influence
The overall sentiment towards HARRIS and KAMA tokens highlights the impact of political developments on the cryptocurrency market.
Harris is seeking to reset relations with the crypto community. After President Joe Biden announced he would not run for re-election, she was positioned as the presumptive Democratic nominee.
Since then, it has made efforts to rebrand the Democratic Party to be more friendly toward cryptocurrencies, especially as the industry faces regulatory scrutiny.
The U.S. Securities and Exchange Commission (SEC) and its Biden-nominated chairman, Gary Gensler, remain points of contention for many in the crypto community.
Harris has reportedly begun dialogues with major crypto companies like Coinbase, Circle, and Ripple Labs, to differentiate herself from the previous administration’s hard-line crypto stance.
Her ability to attend major crypto conferences and network with industry leaders could either boost or hinder her campaign, depending on how convincingly she can separate herself from past policies.
Harris’s opposition
Meanwhile, a coin linked to Republican candidate Donald Trump is on a downward trend.
MAGA (TRUMP) saw a significant decline while Harris-themed coins saw an impressive recovery.
see below.
At last check, the coin was hovering around $4.32, down more than 4.6% with a market cap of around $189.7 million.
The “Make America Great Again” campaign’s decline comes on the heels of a Trump rally at the Georgia State University Convention Center in Atlanta.
During the event on Saturday, Trump lied. claimed He won Georgia in the 2020 presidential election and launched personal attacks against fellow Republicans, Georgia Governor Brian Kemp and Secretary of State Brad Raffensperger, for being disloyal.
What then
Bloomberg Reported The Harris campaign is hosting a roundtable event on August 5 that will feature prominent figures from her campaign and leaders from the crypto community.
It’s the latest attempt by Democrats to reshape the way crypto enthusiasts view the party ahead of Election Day on November 5.
Cryptocurrency expert and former Binance advisor David Plouffe, who previously worked with former President Barack Obama, is It said Harris Consultant.
Plouffe is also a global strategic advisor to Alchemy Pay, a company that provides fiat-to-crypto payment solutions.