According to a recent study conducted by Coinbase, voters interested in crypto will exert a significant influence on key states in the upcoming United States (USA) presidential elections.
In particular, the common desire to update the system unites voters of different political affiliations, suggesting a potential bipartisan impact in the electoral landscape. Let’s see all the details below.
Impact on the upcoming US elections: the key role of crypto voters according to Coinbase
As anticipated, the presidential elections in November in the United States are approaching rapidly, and cryptocurrencies have become a hot topic among both the candidates and the voters.
A recent study by Coinbase, published on July 11, revealed that voters interested in cryptocurrencies will have a significant impact in key competitions.
In fact, one in six cryptocurrency holders resides in the seven decisive states of the electoral battleground.
According to the study, these voters are predominantly young and diverse, with Gen Z and Millennials representing 65% of registered voters who own cryptocurrencies.
40% of registered voters who own cryptocurrencies live in swing states, that is, states that could be won by a democratic or republican candidate.
Furthermore, 35% of registered voters who own cryptocurrencies are non-white, highlighting the diversity of this group.
These voters are not only young and diverse, but also politically active. Nine out of ten registered voters who own cryptocurrencies have stated that they are likely to vote in the elections on November 5.
Furthermore, they have proven to be four times more enthusiastic about voting for a pro-crypto candidate compared to a less crypto-friendly candidate.
Bipartisan approach and non-partisan organizations
The voters interested in cryptocurrencies show a approach bipartisan. 35% identify as democratic, 34% as republican, and 31% are swayable regarding their party affiliation.
The statistics are similar among registered voters who hold cryptocurrencies in swing states. In general, cryptocurrency voters are eager to support a candidate who promotes the sector with an innovative and pro-crypto.
Some in the cryptocurrency sector have even created non-partisan organizations, such as Stand With Crypto and the Bitcoin Voter Project, to influence U.S. cryptocurrency voters.
The candidates have begun to recognize the importance of the vote on cryptocurrencies. Some researchers suggest that cryptocurrencies could be used to influence electoral outcomes and voter turnout.
For example, Robert Kennedy Jr., the first presidential candidate to accept electoral donations in Bitcoin, and Donald Trump have both committed to rejecting the development of a central bank digital currency (CBDC) in the United States.
Initially, the Republican candidate and former president Donald Trump seemed to be a favorable choice for cryptocurrencies, even though his true motivations have been questioned.
On the other hand, the incumbent president and Democratic candidate Joe Biden has received criticism from the crypto community for not initially being as pro-crypto as his opponent.
In other words, with the growing interest and influence of crypto voters, cryptocurrencies could play a crucial role in the upcoming US presidential elections.
Coinbase announces the listing of Stader (SD): the token takes off
Coinbase has recently unveiled its plans to add Stader (SD) to its roadmap for coin listing.
This announcement has created significant buzz in the cryptocurrency community, once again demonstrating the importance that listings on the main exchanges can have on digital assets.
The inclusion of Stader (SD) on Coinbase has caused a significant increase in the value of the token. Stader (SD) is the main cryptocurrency of Stader Labs, used for governance and transaction payments within its ecosystem.
Overall, Stader still recorded an impressive increase of 79.46% in just 24 hours. The effect of the Coinbase announcement was not limited to the price of the token.
The trading activity for Stader has increased significantly, with a 24-hour trading volume reaching 6.6 million dollars.
With a circulating supply of 41 million SD tokens, the market capitalization of Stader has reached 30,843,216 dollars.
