With U.S. President Joe Biden announcing his withdrawal from the re-election campaign, Vice President Kamala Harris has become a strong contender for the Democratic nomination.

In a statement, Biden said he would fully support Harris' campaign and has received support from former President Bill Clinton, former Secretary of State Hillary Clinton, and cryptocurrency critic Senator Elizabeth Warren.

Harris said in a statement: "I am very honored to have the support of the president. My goal is to win this nomination and do everything I can to unite the Democratic Party, unite the country, and defeat Donald Trump and his extreme 2025 plan."

For friends in the currency circle, the most concerned thing is Harris' attitude towards encryption and what tokens can be paid attention to. BlockBeats will introduce them below.

Harris's attitude towards cryptocurrencies

Trump has shown a friendly attitude towards cryptocurrencies this year, while Harris's position is unclear. She has never made formal comments on cryptocurrencies or blockchain technology. Related reading: "What is Biden's Vice President Harris's position on cryptocurrencies? ".

Financial disclosures show that neither Harris nor her husband Douglas Emhoff are involved in the cryptocurrency field, preferring to invest in Treasury bonds and emerging markets.

However, during the 2020 campaign, Harris hired Ryan Montoya, the former chief technology officer of the Sacramento Kings, as her director of scheduling and advancement.

Under Montoya's leadership, the Sacramento Kings were the first sports team in the world to accept Bitcoin - a fact he showcased on his LinkedIn page. The team also mined Ethereum and launched an NFT series. Montoya now works as an assistant to the president in the White House, but he has also retained his old scheduling role. As a result, he is unlikely to have an impact on policy.

But Harris, who is from San Francisco, has close ties to the tech industry, according to a 2020 New York Times report. Her nomination as vice president is seen as "good news" for Silicon Valley.

With cryptocurrency lobbying heating up — and Wall Street banks joining the effort on behalf of the industry — it may make sense for Harris to publicly support Bitcoin ahead of a tough presidential campaign. After all, the crypto industry has invested millions of dollars to influence politics in Washington, and Congress has passed a series of policies supporting cryptocurrencies.

Of course, she may also be able to pursue the same policies as Biden and give a cold shoulder to cryptocurrencies.

With Biden's withdrawal, Harris's chances of being nominated have soared to 82% on cryptocurrency prediction market Polymarket. Although former first lady Michelle Obama is also considered one of the potential candidates, her chances are only 4%. Trump continues to maintain his support for cryptocurrencies and will give a speech at an upcoming Bitcoin conference to further elaborate on his plans.

Harris' campaign strategy remains to be seen. If she can effectively use the support of the cryptocurrency industry, it will help her gain an advantage in the competition with Trump. However, whether she will be as reserved about cryptocurrency as Biden is, or will actively embrace this emerging technology, it still needs time to test.

What are the related concept coins?

In May, during the "fierce confrontation" between Trump and Biden, BlockBeats once judged in the article "How to seize the best time to speculate on the US election Meme coin? Key time points and concept coins are fully analyzed" that Harris may become the focus of market attention, especially when Biden is in poor health after his election.

So in the current situation, what tokens are worth paying attention to? The following tokens are only sorted out as ideas in this article, not as investment advice.

$HERRIS

Currently, this is the Harris-related concept coin with the highest consensus on the Ethereum chain, and its market value is also the largest on the Ethereum chain, currently at $4.1M USD. After Biden announced his withdrawal from the election, the price of $HERRIS reached a new high of $0.012, and its market value was close to $1 billion, but then there was a sharp retracement.

This coin also seems to have a strong meme attribute, and it is in the same style as the previously popular series of meme characters with crooked heads.

$KAMALA

There is also a $KAMALA on Ethereum, which has also diverted some of the liquidity of $HERRIS to a certain extent, and its current market value is $2M USD.

After the news that Biden withdrew from the election and nominated Harris came out, the trading volume of $KAMALA was once ahead of $HERRIS, but it has now been overtaken by $HERRIS.

$KAMA

$KAMA is on the SOLANA chain, and within minutes of Biden's withdrawal, the price doubled, rising above $0.0257, setting a new record high. It is now quoted at $0.01718, with a 24-hour increase of 55%. It is also the largest in terms of market capitalization, reaching $20M, almost four times that of the previous Biden-inspired coin BODEN.

Historical experience shows that as the political landscape changes, a new wave of Harris and Biden-themed tokens will be created on the meme coin platform Pump.fun. But most of these tokens may quickly depreciate as buyers and sellers play pvp on the order book on the Solana (SOL) blockchain.

Therefore, judging from the previous elections, Ethereum's targets seem to be more durable, while Solana "cannot survive overnight", but this time Harris-related TOKEN still performs better on Solana.

Bets on Polymarket

In addition, the odds and prices of multiple voting bets on Polymarket have also changed significantly, which are also worthy of attention and participation.

For example, the left side of the figure below shows the current winning rate of the winner of the 2024 presidential election: Donald Trump's winning rate is 63%, with a total of $39,900,936 in bets; Kamala Harris's winning rate has risen to 30%, with bets of $21,929,234; Michelle Obama's winning rate is 3%, with bets of $18,657,072.

In the bets on the right, the winning rate of the Democratic candidates in 2024: Kamala Harris's winning rate has reached 84%, and the total bet is $21,840,045. The total probability of other candidates (including Whitmer) is 8%; Michelle Obama's winning rate is 5%; Hillary Clinton's winning rate is 2%.

Note: Most meme hype is extremely risky and has no practical value. This article is only used as a record of ideas, not as investment advice.

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