The probability of President Joe Biden withdrawing from the upcoming U.S. presidential election has reached 35%, according to data from the decentralized prediction market platform Polymarket.

Following Biden’s underwhelming debate performance against former President Donald Trump on July 27, there has been a significant increase in activity on the Polymarket prediction platform. Enthusiasts are particularly focused on whether Biden will exit the presidential race, with over $7.1 million wagered on “yes.”

The debate, criticized for being lackluster and unclear, has intensified doubts about Biden’s capability to serve another term. Much of his performance was shaky, and some of his responses were deemed nonsensical.

Throughout the 90-minute debate, Biden appeared defensive and struggled to counter Trump’s claims and complete sentences. The New York Times editorial board described Biden as an “admirable president” under whom the nation “prospered.” However, they suggested that “the greatest public service Mr. Biden can now perform is to announce that he will not continue to run for re-election.”

Biden acknowledged his age-related limitations and raspy voice but emphasized his commitment to truth and integrity. Nevertheless, the debate highlighted his difficulties in communicating with the public and outlining a clear vision for a second term.

The next U.S. presidential election is scheduled for Nov. 5, and its outcome could significantly influence the nation’s future direction.

BODEN Token Faces Significant Decline

The Jeo Boden (BODEN) meme token, named after Biden, experienced notable negative price volatility during the debate, plummeting over 53% from 17 cents to 8 cents, before partially recovering to 9 cents. Currently, BODEN is trading at 5 cents, marking a 29.7% decline in the past 24 hours.

This steep drop in BODEN’s price underscores how political meme coins are sensitive to public perception and events involving the candidates.

Although neither Biden nor Trump discussed cryptocurrency during the debate, the market reacted to their performance and perceived strengths. Over the past seven days, BODEN has underperformed compared to other assets in the cryptocurrency market, with a decline of 50.9%. In contrast, the global crypto market dropped by 3.60%, while similar meme cryptocurrencies saw a 4.20% increase.

Despite BODEN’s decline, Bitcoin (BTC) rose 1.1% during the 90-minute debate. The Bitcoin price currently hovers around the $60,864 region.

The BODEN coin is not affiliated with Biden or the White House.

For more updates on the latest trends in cryptocurrency, investing, and finance, keep following Global Crypto News.

Post Views: 3