The Surge in Prices and Volumes of Trump’s NFT Collection
The prices and volumes of former president Donald Trump’s NFT collection experienced a significant surge after an interview with conservative media personality Tucker Carlson on social media platform X. Here are the key points:
- NFT Collection Value Soars: The Polygon-based digital cards from Trump’s collection were selling for 0.13 ETH, equivalent to just over $215. The collection had amassed over 17ETH of trading volume, resulting in a 25% increase in the floor price and a trading volume of $23.5 million.
- Influence of Bigger Players: The surge in activity was mainly due to two wallets purchasing the NFTs. When bigger players get involved, they can significantly impact the market and cause price fluctuations.
- The Trump NFT Collection: The collection, consisting of 45,000 fantasy cards featuring Trump in various avatars, was released last December. It quickly sold out, with over 13,000 unique holders. Buyers had a chance to win experiences with the former president through a sweepstakes.
- Interest and Price Fluctuations: Interest in the NFTs has cooled since the launch, and the price keeps changing with news associated with Trump. Negative news cycles, such as the recent indictment, have affected the price.
- Trump’s Involvement in Crypto: Trump holds around $2.8 million in cryptocurrency and earned nearly $5 million in licensing fees from the Trump NFT collection. This is surprising considering his previous skepticism towards digital assets, particularly Bitcoin.
Hot Take: The surge in prices and volumes of Trump’s NFT collection highlights the influence of celebrity endorsements and larger players in the crypto market. However, interest in the NFTs has cooled, and the price remains volatile, fluctuating with news cycles related to Trump.
By
By
By
By
By