TL; DR
Full story
If you live in the US, chances are you were hit Tuesday morning by news articles (good, bad, ugly – depending on your algorithm) about Kamala Harris picking Minnesota Governor Tim Walz as her running mate.
As a result, two epee-related things happened in crypto:
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The ~$123 million crypto pool of bets placed on Polymarket on who would be Harris’ running mate was split (which was only a 4% chance that Walz would win last Friday).
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Tim Walz’s meme coins rose in value (before crashing back down).
For example, the one-week-old ‘tem walz‘ Solana-based meme coins went all the way up to a market cap of almost $1 millionand then came all the way back to a market cap of ~$250,000 while ‘investors’ felt a bubble and pulled their money out.
So, what’s the moral of this story?
First of all, crypto is crazy. Even if that isn’t the case feeling like real money, because it is in symbolic form, that’s real money which is played on meme coins.
Solana-based meme coins have been one of the big catalysts for the growth of the crypto industry as a whole over the past year, and chances are that more and more meme coins will be launched on trending news.
But before you get caught up in the lure of those potential green candles, remember that putting money into ‘tem walz’ is not a long-term investment strategy; So make sure you only ‘invest’ what you can afford to lose.
It just might end go to zero.