Kamala Harris Crypto Boosts And Trump Crypto Drops After Debate

Kamala Harris Crypto Outperforms Trump Crypto After US Election Debate

After Trump and Kamal Harris Debate, Crypto and Bitcoin mining-related stocks in the US rebound from a morning dip following a US Election 2024 debate between presidential candidates Donald Trump and Kamala Harris. 

On September 11, shares of companies involved in cryptocurrency and Bitcoin mining experienced a decline after polls suggested Kamala Harris outperformed Trump in the debate.

Kamala Harris Crypto Outperformed Trump Crypto

The US Election 2024 debate led to an initial drop in crypto-based Stocks. Shares of major crypto firms fell significantly, reacting to the debate's outcome where voters viewed Harris more favorably than Trump, who has been known for his pro-crypto stance. 

On September 11, 54% of registered voters thought Harris won the debate, while only 31% felt Trump came out ahead. A CNN flash poll also indicated that most debate viewers believed Harris performed better on stage. With such results, there are fluctuations in Trump Crypto and Kamala Harris Crypto prices. 

Crypto-linked Stocks Bounce Back After Trump VS Kamal Harris Debate

Despite this early dip, crypto-based stocks managed to recover by the end of the trading day. Coinbase (COIN), a leading crypto exchange, saw its shares fall to a low of $150 but later recovered to close at around $157 in after-hours trading, up 5.3% from its low. 

MicroStrategy (MSTR), known for its significant Bitcoin holdings, dropped to $122 but ended the day only slightly down, closing at $129.30. 

Marathon Digital (MARA) and Riot Platforms (RIOT), both major Bitcoin mining firms, also experienced early declines but ended the day down by 0.94% and 2.07%, respectively. 

Hut 8 (HUT) was the only crypto-linked stock to finish the day in positive territory, closing up 1.29% at $10.58 after hitting a low of $9.76.

Bitcoin Prices and Crypto Market Capitalization

The initial dip in the crypto markets was also mirrored by a drop in Bitcoin prices, which fell 3.7% to an intraday low of $55,573 before rebounding to $57,900 during early trading on September 12. Overall, the crypto market experienced a $60 billion drop in total capitalization on September 11 but later recovered by 2.3%, returning to pre-debate levels.

Trump Crypto Memecoins Take a Hit

In contrast, Trump-themed memecoins suffered a significant decline, with all of them dropping by double digits in the past 24 hours. This reflects a broader market reaction to the debate and its potential impact on crypto policies and perceptions. However, Take a look at what Elon Musk predicted on Donald Trump's win and US Financial crisis.

Read More: Tomarket Web 3.0 Drop Officially Ends, Celebrating 23M Users