Crypto, Mining Stocks Drop Amid US Presidential Debate; Trump Memecoin Takes a Hit
CryptoNewsTerminal Staff11 Sep, 2024
Crypto, Mining Stocks Drop Amid US Presidential Debate; Trump Memecoin Takes a Hit
Cointelegraph reported a decline in cryptocurrency and BTC mining-related stocks on the US stock market during the October 11 presidential debate between former US President Donald Trump and Vice President Kamala Harris. Coinbase stock initially dropped to $150 before recovering to a 5.3% gain, but ultimately closed down 0.79%. MicroStrategy's stock also closed lower at $129.3, a 0.26% decrease. BTC mining companies Marathon Digital and Riot Platform saw their stock prices initially decline, closing down 0.94% and 2.07%, respectively. Notably, the total market capitalization of cryptocurrencies dropped by $60 billion during the debate, but later recovered by 2.3% to pre-debate levels. However, Trump-themed memecoins reportedly experienced a significant drop of over 10% in the last 24 hours.
