The crypto Fear & Greed Index continued to fall, reaching the neutral zone at 56 as most coins pulled back. Bitcoin dropped toward $68,000, well below this month’s peak of $73,500. Similarly, Ethereum slipped to $2,400, and the total market capitalization of all cryptocurrencies declined to $2.28 trillion.
Some of the weakest tokens included Grass, Solana, Goat and Sui, each down nearly 10% in recent months. Historically, cryptocurrencies often retreat when the Fear & Greed Index shifts toward the fear zone.
Trump’s Odds Decline
These tokens weakened as investors priced in the upcoming U.S. general election, which could shape crypto regulation for years to come. Many crypto investors favor a Donald Trump victory because of his pro-crypto stance; he is reported to hold a crypto portfolio valued at more than $6 million and has pledged to be crypto-friendly as president.
Polls show tight races across several swing states, making the outcome harder to predict. Polymarket, a leading prediction market, currently shows Trump with a 55% chance of winning. While a majority, this is down from last week’s peak of 67%, indicating his odds are falling.
The ongoing crypto weakness suggests investors are increasingly concerned a Harris victory could be possible. This trend helps explain the sharp drop in Trump Media & Technology (DJT) over recent days, and why Trump-themed tokens such as MAGA, TRUMP and DJT have fallen by double digits.
Beyond the U.S. election, cryptocurrencies will also react to the upcoming Federal Reserve rate decision. Officials are widely expected to cut rates by 0.25% after a prior 0.50% reduction. In many market cycles, cryptocurrencies perform well when the Fed lowers interest rates.
Read more: Traders turn to this unique Meme Portfolio as markets wobble ahead of the U.S. election
Vantard Coin Offering Gains Traction
Not all cryptocurrencies are struggling. Vantard, a Vanguard-inspired project, is gaining momentum as its token sale accelerates. The project has already raised more than $304,000 from investors and could become one of this year’s top-performing ICOs.
Vantard’s appeal lies in its promise to create a meme-coin index fund. Historically most meme coins lack intrinsic utility, yet many have outperformed established tokens such as Chainlink, Solana and Binance Coin.
Some of the most notable meme coins to watch include Popcat, Dogwifhat, GOAT and Brett, each posting strong gains this year. Several have jumped more than 1,000%, pushing the combined meme-coin market capitalization above $60 billion.
Vantard is modeled after Vanguard, a fund manager that has grown into an $8 trillion colossus largely through ETFs and mutual funds. For example, the Vanguard S&P 500 ETF (VOO) holds more than $500 billion in assets and has continued to grow in recent months. Vantard ($VTARD) is designed to comprise a selection of popular cryptocurrencies, and token holders will be able to redeem tokens for the treasury.
As a result, the Vantard token may continue to perform well if the Federal Reserve lowers interest rates over the coming months. It could also benefit from the stability that follows the election cycle and the traditional year-end Santa Claus rally.
More on Vantard: Find Vantard here.