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With just 50 days left until the 2024 presidential elections in the United States, political discussions and events are intensifying. Former President Donald Trump is back in the race and is notably gaining popularity among cryptocurrency investors. His upcoming launch of a DeFi platform, World Liberty Financial, designed to assist users in managing their cryptocurrencies, is further fueling this interest.
Why Did the ‘Trump Hitler’ Tag Trend on X?
In the past two months, Donald Trump has survived two assassination attempts. The first occurred in July, in front of hundreds of supporters in Pennsylvania, leaving Trump with a minor injury. The second incident took place recently while he was playing golf at Trump International Golf Club, with Trump escaping unharmed.
Following these assassination attempts (the second one being uncertain), the ‘Trump Hitler’ tag trended on X with 61,000 shares. Many users questioned why Trump was the only target, while others highlighted similarities between Adolf Hitler and Trump, claiming he would destroy America. Trump has often suggested that the harsh rhetoric surrounding these assassination attempts could have influenced the assailant, a notion that is being utilized by Republican candidates against Democrats.
Impact on the Crypto Market
Since the beginning of the year, Donald Trump has maintained a favorable stance towards the crypto industry. Identifying himself as the “Crypto President,” Trump expressed support for Bitcoin 
$101,892 mining in the U.S., attended a Bitcoin conference, and established a DeFi platform.
With the launch of Trump-themed meme coins, support for the former president has surged. There appears to be a connection between Trump’s popularity and the performance of the crypto market. Following the recent (possible) assassination attempt, the global crypto market value saw a 2.4% decline, contrary to the previous incident, with Trump-associated coins like MAGA, TRUMP, and TREMP experiencing significant losses.
As political events continue to influence the crypto industry, political donations made through cryptocurrencies have reached $190 million, reinforcing the industry’s volatility linked to such developments.
