As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless trends and shifts that have shaped the economic landscape. In this particular scenario, the recent surge in Memecoin Kamala Horris (KAMA) is intriguing, to say the least.
In the past day, the meme coin Kamala Horris (KAMA) has experienced a significant surge of approximately 7%, marking its first substantial rise in over a month. This uptick seems to be prompted by remarks made by Vice President Kamala Harris, who expressed her intent to foster the expansion of the cryptocurrency sector if re-elected.
Harris Promises Support For Crypto And AI
Speaking to donors at a fundraiser in New York City on Sunday, Harris outlined her economic agenda, which aims to foster innovation in the artificial intelligence (AI) and digital asset sectors while ensuring consumer protection, according to Bloomberg. At the event held at Cipriani Wall Street, Harris stated:
I’ll assemble a diverse group consisting of workers, small entrepreneurs, and pioneering minds. Together with established corporations, we’ll collaborate on investments to bolster American competitiveness and shape our future. We’ll advocate for progressive technologies such as AI and digital currencies, all while ensuring consumer and investor safety is prioritized.
It’s noteworthy that this marks the initial public statement from Harris regarding cryptocurrency in her capacity as a Democratic presidential candidate. This has sparked curiosity among investors and supporters about her views on digital assets, particularly in contrast to the stance of President Joe Biden’s administration.
2024 Presidential Election is witnessing growing impact from the world of cryptocurrencies, as top-tier business leaders and investors in this field voice their discontent with what they deem as burdensome regulatory policies associated with the Biden administration.
Harris’s campaign expresses a wish to foster the expansion of digital assets, simultaneously pushing for essential safety measures. This stance arises from the lessons learned from high-profile collapses in the cryptocurrency market.
Instead, in opposition, the previous President, Donald Trump, Harris’s Republican rival, has proactively wooed the cryptocurrency sector. He pledged to appoint a new chair for the Securities and Exchange Commission (SEC) in place of Gary Gensler, and also intends to establish a regulatory framework for stablecoins.
Harris Outraises Trump In August Fundraising Push
According to the report, Harris’s fundraising event was a crucial move to strengthen her financial position in her competition against former President Trump. The cost of attendance varied greatly, from $500 to almost $1 million, giving major contributors a chance to interact with Harris and participate in extra events.
In August, Harris’s campaign announced a substantial increase in donations, totaling an astounding $361 million. This brought their overall campaign funds to approximately $404 million by early September.
During the same timeframe, Harris and the Democratic National Committee have amassed more than $109 million in funding, which significantly outpaces the $130 million collected by Trump and the Republican National Committee, providing the Democrats with a considerable financial edge.
KAMA Surges Amid Growing Optimism For Harris’s Presidential Bid
As a crypto investor, I’ve noticed an uptick in my portfolio due to the positive statements made by Kamala Harris lately. This has sparked a surge for the memecoin bearing her name, KAMA, marking its first growth spurt in over a month. At present, KAMA is trading at $0.0052, and it’s up by 7.2%. After dipping to $0.0500 earlier this month amidst the broader market downturn, KAMA has managed to bounce back, offering me a glimmer of hope in these challenging crypto times.
Although there’s been a rise recently, it’s important to note that KAMA is still roughly 87% lower than its peak price of $0.039, as per the data from CoinGecko, which was attained on July 24.
As a researcher, I’m pondering if upcoming declarations and endorsements for the digital asset sector might trigger additional growth for the token in the impending days. With merely a couple of weeks left before the presidential election, uncertainty still lingers.
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2024-09-24 06:40