Whale Bets $1M USDC on Donald Trump’s Victory

As the US Presidential Elections are nearing, a whale under the name, ah7162, decided to withdraw 1M $USDC from crypto exchange Binance to buy “YES” shares of Donald Trump’s win on Polymarket. However, the decision took a strange turn as now his YES-es have turned into a floating loss of $14,000.

Real-time blockchain intelligence platform, Onchain lens wrote a post on X, “8 hours ago, a whale withdrew 1M $USDC from #Binance to buy “YES” shares of #DonaldTrump on #Polymarket.

The whale holds 1.6M “YES” shares and has a floating loss of ~$14K.”

Courtesy: Onchain Lens

Note that, as per the latest data from prediction market Polymarket, the odds of former President Donald Trump winning the US Elections stand at 66.3%, meanwhile the odds of VP Kamala Harris winning the US Elections stand at 33.7%.

US Elections, which are to be held on 5th November have amassed nearly 2.7b Volume of market trade on Polymarket. Some days ago, a whale named, “GCorttell93” purchased more than 4.5 million Trump victory bets on the “2024 Presidential Election Winner” market, spending more than $3 million in just minutes. Due to the mechanism of the order book, a $275,000 purchase actually traded at 99% odds. However, the actual market odds were about 63% at that time.

Trump’s popularity on Polymarket has gone up as Bitcoin, too continues to surge, and with Bitcoin becoming the sixth largest asset. A recent research also concluded that Donald Trump’s win could push Bitcoin to $80,000 or more.

Also Read: Florida CFO Backs Trump’s Bitcoin Strategic Reserve Idea in New Letter

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Ritu Lavania
Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. ionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.