A Donald Trump health token is now available on Uniswap, a new derivative that just appeared on the platform to track the President’s health after he caught the Coronavirus so let’s find out more in our altcoin news today.
There’s not a lot of information about the project, other than it is a smart contract. It should be seen as an index that goes up when the market has a positive perception of the President’s health and crash when the opposite is true. The Trump health token market is not very optimistic as it went down from $0.957 to $0.954 in a few hours. It corrected later as a reaction to the President’s announcement on Twitter that he was doing well and then dropped again to $0.955.
Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!
— Donald J. Trump (@realDonaldTrump) October 2, 2020
It’s no wonder why a health index will have an appeal for crypto traders but the markets tend to be volatile and prone to sentiment changes. Bitcoin also received a sharp drop when the news emerged but it remained stable compared to the previous events. BTC Stayed over the $10.5K level and right now it is on the run to hit above $10,000. The recent situation sparked a new debate about the currency’s nature. Its correlation to gold proved to be wrong as the precious metal increased again. The token followed the stock markets and crashed which confused the traders.
Right now, the correlation between BTC and s&P 500 is high but the THI liquidity is almost zero so we cannot take this coin seriously yet. The crypto derivatives platform FTX offers the opportunity to speculate on Donald Trump’s political futures as the TRUMP contract will close $1 if he wins the election and $0 If he loses. At the moment, the outlook is not as bright especially after he contracted the virus. If the markets follow the President’s popularity, the COVID news was bad as it caused one of the biggest declines on the market. His well-being announcement brought hope but the contract was traded at record lows.
Augur, on the other hand, loves any Trump-related news as it gave a 40% chance of him winning the elections but there are many bets against him. Of course, we can’t forget the famous “shitcoin” StopTrumpCoin which was traded back on Cryptopia during the altcoin madness. The announcement said its goal is to “bring about world peace so that all humans are treated fairly and equally.” However, the Cryptopia hack didn’t allow them to achieve these goals as they stopped trading shortly after.
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