Token With Value Indexed To Donald Trump’s Health Status!
A new Trump Health Index has emerged in Uniswap. While this is an interesting situation, it is definitely not the first in the cryptocurrency world.
Trump may not like cryptocurrencies, but the cryptocurrency world certainly doesn’t miss a chance to mess with it. As proof that anything can be tokenized, no matter how important or insignificant, a variant has emerged on Uniswap to monitor the health of the US President: welcome to the Trump Health Index (THI).
Little is known about this “project” beyond its name and development (and of course its smart contract). It is among those known to be an index that rises when the market has a positive perception of the President’s health, and decreases when vice versa .
Markets are not very optimistic. The token fell from $ 0.957 to $ 0.954 within a few hours. It was subsequently adjusted to $ 0.956 – perhaps in response to the President’s announcement that he felt good on Twitter – and then dropped back to $ 0.955.
Trump’s Health and Bitcoin
It’s no surprise that a Health Index is attractive to cryptocurrency traders. After all, markets tend to be very volatile and prone to mood swings.
Bitcoin fell sharply after the news spread, but remained relatively stable compared to previous events. BTC remained at over $ 10.5,000 and now the world’s largest cryptocurrency hovers over $ 10,000.
However, this last case has started a new discussion about the nature of Bitcoin . Its correlation with gold (as a store of value) has been proven to be wrong because the precious metal rose in FUD times. Instead, the token followed exchanges, which confused traders and analysts. Currently, the correlation between BTC and SP500 is very high.
Cryptocurrencies and Politics Sure Can Mix
THI is not yet taken seriously as its liquidity is almost zero, while traders are not speculating about the President’s future for the first time.
The cryptocurrency derivatives trading platform FTX offers the opportunity to speculate about Donald Trump’s political future. The TRUMP contract will close at $ 1 if Trump wins the election and $ 0 if he loses.
The outlook is not very good right now, especially after reports of COVID exposure. The markets are tracking the President’s popularity, and the COVID news has caused one of the sharpest drops in the market. The welfare announcement brought some hope, but the contract is currently trading at record lows.
However, the President also has fans in the cryptocurrency world. The TrumpCoin token has more time in the market, and yesterday rose 200% following optimism about the President’s health.