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BODEN Token Up Over 10%, TREMP Gains 5% After Kraken Lists Solana PoliFi Duo
BODEN appears to be the winner as first exchange open to U.S. residents lists the election-themed tokens.
Updated Jun 5, 2024, 5:50 p.m. Published Jun 4, 2024, 6:39 p.m.
- Kraken announced that PoliFi tokens BODEN and TREMP are now available on its Kraken Pro platform, making it the first U.S. exchange to list the PoliFi themed tokens.
- BODEN appeared to be the winner, up 10% versus 5% for TREMP.
Kraken announced today that it has listed the PoliFi tokens BODEN and TREMP on its Kraken Pro platform, making it the first major exchange available to U.S. residents that has listed PoliFi tokens.
🐙 Giving the people what they want since 2011!
— Kraken Exchange (@krakenfx) June 4, 2024
Available to trade now in 🇺🇸 on @krakenpro.
Vote $BODEN or $TREMP below! 👇 pic.twitter.com/swVgfmQyJr
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For the uninitiated, PoliFi tokens are meme coins with a political theme, seen as a way to express support for a preferred candidate. While the first major PoliFi token was MAGA, BODEN and TREMP, two tokens on Solana with caricatures of the politicians inspired by Doland, a bastardized version of Donald Duck with an attitude problem, are quickly catching up in popularity.
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And with U.S residents now able to trade two major PoliFi tokens on a major retail exchange – previously they were only available on offshore centralized exchanges or decentralized exchanges – BODEN appears to be the winner.
According to CoinGecko data, the Joe Biden-themed token was up over 13% immediately after the listing announcement before leveling off. In the last 24 hours, it's ahead 10% versus 5% for TREMP.
Currently BODEN has a trading volume of around $10 million versus TREMP's $12 million, per CoinGecko, which has yet to list trading volume from Kraken.
The trading volume for these tokens is fairly small in the crypto world. Dogwifhat, for instance, has volume within the $400 million range over the similar period.
On Predictit, which is open to U.S. residents, Trump leads Biden by over four percentage points, a margin higher than poll aggregates compiled by 270 to Win, which puts Trump less than a percentage point ahead.
Polymarket, not open to U.S. residents, maintains the widest margin, with Trump leading by 56% to Biden's 38%.
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- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
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