BitMEX Lists U.S. Election-Themed Memecoins MAGA & KAMA

BitMEX is set to launch two new memecoins, MAGA (TRUMP) and Kamala Horris (KAMA), inspired by the 2024 U.S. presidential election. Trading for these tokens will begin August 20th at 04:00 UTC on BitMEX’s Spot platform.

The MAGA (TRUMP) token takes inspiration from the “Make America Great Again” slogan from Donald Trump’s 2016 campaign. It’s an Ethereum-based memecoin intended for investment purposes, although its creators have yet to build a broader ecosystem around it.

As of the press time, TRUMP was trading at $2.72, with a trading volume of $1,519,120. Despite a small 0.16% drop in the past day, the token remains in the market, with a live market cap of $119,732,706 and a circulating supply of 43,997,357 TRUMP coins.

In contrast, the Kamala “Horris” (KAMA) token is a lighthearted tribute to Vice President Kamala Harris. Unlike the MAGA token, KAMA aims to foster a community-driven platform where users can engage in discussions, share memes, and participate in events. At present, KAMA is priced at $0.009640, with a trading volume of $1,081,727. However, the token has experienced an 11.85% decrease in value over the past day.

BitMEX added noting that it will facilitate the trading of TRUMP/USDT and KAMA/USDT pairs. Moreover, BitMEX highlighted that it will only support deposits of the taxless TRUMP token on the Ethereum blockchain, with a contract address provided by the platform.

Beyond these new listings, BitMEX indicated it will also introduce Prediction Markets contracts, allowing users to speculate on the presidential election’s outcome between Donald Trump and Kamala Harris.

With Harris gaining support from younger and minority voters, her performance could influence the cryptocurrency market, especially if she takes the lead in the election. Trump’s bullish stance on digital assets has already been well-documented, adding another layer of interest to these memecoins.