TL;DR
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If you happen to stay within the US, chances are high on Tuesday morning you have been struck with information articles (good, dangerous, ugly – relying in your algorithm) about Kamala Harris selecting Minnesota Governor, Tim Walz, as her operating mate.
Because of this, two degen-related issues occurred in crypto:
The ~$123M crypto pool of bets positioned on Polymarket for who Harris’ operating mate could be was divvied out (which was at simply 4% odds of Walz profitable as of Friday final week).
Tim Walz meme cash flew up in worth (earlier than crashing proper again down).
For instance, the one week outdated ‘tem walz’ Solana-based meme coin went all the way in which as much as having a market cap of just about $1M, after which got here all the way in which again all the way down to a market cap of ~$250k as ‘traders’ sensed a bubble and pulled their cash out.
So, what’s the ethical of this story?
Firstly, crypto is loopy. Even when it doesn’t really feel like actual cash as a result of it’s in token type, that’s actual cash that’s being performed with on meme cash.
Solana-based meme cash have been one of many large catalysts for the expansion of the crypto trade as a complete up to now yr or so, and chances are high, increasingly more meme cash will proceed to be launched about trending information.
However earlier than you get sucked into the lure of these potential inexperienced candles, keep in mind that placing cash into ‘tem walz’ shouldn’t be a long run funding technique; so be sure you’re solely ‘investing’ what you may afford to lose.
It simply may find yourself going to zero.
