Trump, Biden Change Their Tune on Cryptos While Ether's Price Surges

Written by:
Aaron Goldstein
Published on:
May/31/2024

Key takeaways:

  • Trump now wants the U.S. to be a crypto powerhouse while Biden's aides have reached out to important players in the sector.
  • Odds are available on Ether crossing the $4000 mark by June 7.
  • Odds are also available Trump mentioning cryptos by next week.

Former U.S. president Donald Trump and current U.S. president Joe Biden have changed their tone on cryptocurrencies.

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Trump has promised to make the U.S. a leader in digital assets during recent campaign events. And Biden’s aides have responded by reaching out to major players in the crypto market.

Ether's price, meanwhile, has surged to nearly $4k, then pulls back: After the SEC approved eight Ether ETFs last week, analysts expect anticipated inflows to be 15-30% of Bitcoin ETF levels. So far, the price of ether has remained relatively flat since the SEC approved ETH ETFs.

There Are Betting Markets For This

Ethereum above $3,800 on June 7?

There is a 62% chance or odds of -163.

This market can be found at Polymarket

This market will resolve to "Yes" if the Binance 1 minute candle for ETHUSDT 7 June '24 12:00 in the ET timezone (noon) has a final “Close” price of 3,800.01 or higher. Otherwise, this market will resolve to "No".

The resolution source for this market is Binance, specifically the ETHUSDT "Close" prices currently available at https://www.binance.com/en/trade/ETH_USDT with “1m” and “Candles” selected on the top bar.

Please note that this market is about the price according to Binance ETHUSDT, not according to other sources or spot markets.

Will Trump talk about crypto by next Friday?

This market has a near 50% chance (48%). 

This market will resolve to “Yes” if Donald Trump publicly mentions crypto or any cryptocurrency between May 30, 2024, 12:00 PM ET, and June 7, 2024, 11:59 PM ET. Otherwise, this market will resolve to “No”.

A ‘mention’ includes the following:

-A verbal usage of crypto, specifically in relation to cryptocurrency, crypto-related terms or memes, or any cryptocurrency in particular.
-Any usage of crypto, crypto terms or memes, or any cryptocurrency in particular on Trump's social media or other official communication channels regardless of capitalization/punctuation. This includes usages in written, image, audio, or video media.

The resolution source for this market is a consensus of credible reporting.

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