Token negotiation of the current US president sees a lot of volume, but sales pressure is great.
The Donald Trump negotiation token plummets as the US election approaches an outcome. Traders could be projecting their feelings on an eventual defeat of the Republican candidate at the polls.
In some states, the current vote count already exceeds 90%. In any case, this Wednesday (4) the market should meet the next US president.
At the beginning of the elections, the US and even the Brazilian stock markets operated on a high with the optimism of traders. In addition, the price of Bitcoin exceeded US$ 14,000 and approached R$ 80,000 again. The dollar in Brazil exceeds R$ 5.75 with the belief in Trump’s victory.
Those who directly trade Trump’s victory are not so optimistic.
Cryptomaniac broker sees Donald Trump’s victory token drop
One of the leading brokers of crypto currency derivatives is FTX. As announced by Livecoins, the brokerage house innovated in 2020 by allowing the bet on who would be elected to the White House.
That’s because future contracts were created by the cryptomorph brokerage firm for U.S. presidential candidates. As candidates withdrew, their negotiations were „slipped“.
However, the dispute between Donald Trump and Joe Biden turned out to be the final one and the result comes in the next few hours from the polls. For those who decided to bet on one or the other to win, the FTX cryptomorphine broker created a token for the traders.
It is worth mentioning that the volume of trades in the brokerage house increased a lot on election day. It was more than $14 million in volume in 24 hours, just in the Donald Trump token trade. Biden’s FTX token saw a volume close to $3 million.
In fact, most traders traded the Donald Trump token, which plummets. In other words, for FTX futures traders, Donald Trump will be outvoted.
Currently, if Donald Trump loses the election, the losers will win a 47% prize. However, if Trump wins the election, the person who bought the „TRUMP WIN“ token will win 233% of the bet amount.
Token „Biden“ is worth $0.7 today, after great volatility on election day
The „BIDEN“ token was highly valued on Election Day at the FTX brokerage house, worth $0.7 today. Despite this, the trading of this token has suffered great volatility in the last 24 hours. This move could show indecision over Biden’s victory or defeat at the polls.
In any case, the US election in 2020 is in fact the first to tokenize the candidates and put them to trading in a brokerage house. In other words, for traders who want to trade an asset related to a president’s victory, this pioneering initiative caught the attention.
It is worth mentioning that the US election is accompanied by Ethereum and another cryptomoeda this year. Thus, the cryptomoeda market has followed the election result carefully, either for technical reasons or pure speculation.