Kamala Harris Takes Lead Over Donald Trump On Polymarket - Here’s What It Could Mean For Crypto Prices

Kamala Harris has emerged as the frontrunner in the upcoming US Presidential elections, according to crypto betting site Polymarket.

Harris currently holds a 49% probability of winning the White House in November, compared to 48% for Trump.

Polymarket's predictions align with other reputable polls, indicating a significant shift in favor of Harris.

While this could potentially impact the crypto market due to Trump's pro-crypto stance, it does not necessarily indicate the end of the bull market.

Low-cap cryptocurrencies, which exhibit less correlation with market sentiment, could experience increased demand during this period of uncertainty.

Polymarket and other sources, including RealClearPolitics, now show Harris leading in the National Average and several swing states.

However, it's worth noting that the race remains tight, and Trump has agreed to debate Harris next month, which could influence the odds.

Will Crypto Prices Witness a Reversal?

Harris's growing lead may lead to a short-term setback in crypto prices.

However, a Trump defeat may not significantly alter the expected bull run for cryptocurrencies.

Harris has indicated a more conciliatory approach towards the crypto industry and is unlikely to appoint SEC Chairman Gary Gensler for a second term.

Additionally, the Federal Reserve's aggressive quantitative easing measures, including a 50bps interest rate cut, are expected to infuse the crypto market with fresh capital.

Low-Cap Cryptos May Benefit

Low-cap cryptocurrencies often exhibit low or no correlation with the broader market.

Amid political uncertainty, demand for these assets could surge.

Investors may seek refuge in low-cap tokens and new meme coins, similar to the recent success of Pepe Unchained (PEPU) and its presale gains.

Emerging play-to-earn projects, such as PlayDoge, are also gaining traction due to their beginner-friendly gameplay and lucrative rewards.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.