The Spike in Price of Donald Trump’s NFT Trading Cards
The price of ex-President Donald Trump’s digital trading cards experienced a surge following his interview with Tucker Carlson. The OpenSea marketplace data shows a 256% increase in trading volume in the past 24 hours, amounting to 14,320 Ethereum ($23.5 million). The floor price also rose by 25% to 0.1369 Ethereum or $225. However, this spike in price is mainly due to the activity of two wallets purchasing the NFTs.
Key Points:
- Trading volume for Trump’s NFT trading cards increased by 256% in the past 24 hours.
- The floor price of the NFTs jumped by 25%.
- Sales in the last 24 hours have surged by 220%.
- The price fluctuation of NFTs is influenced by larger players entering the market.
- Donald Trump launched his NFT trading cards in December, featuring comical illustrations of himself.
NFT prices can be volatile, similar to other digital assets, when significant players enter the market. Trump’s NFT trading cards initially garnered significant interest but lost momentum over time. However, they continue to experience price and volume fluctuations whenever events involving the former reality TV star occur, including negative news such as his historic indictment.
Despite the decline in interest due to the bear market in crypto, NFTs linked to digital and physical assets, like art and music, gained popularity in 2021.
Hot Take:
The surge in the price of Donald Trump’s NFT trading cards highlights the impact of influential figures on the market. While the spike may be temporary and influenced by a few players, it demonstrates the potential for volatility in the NFT market. The continued interest in Trump’s NFTs despite fluctuations suggests a strong following for the former president in the crypto community.
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