Following a week that many people would characterize as "eventful" in the context of the political climate in the United States, there was a spike in the trading volume and price of a collection of non-fungible tokens (NFTs) called the Trump Digital Trading Cards. These cards feature pictures of Donald Trump.
This surge in trading activity has been related to the publication of the former President of the United States mugshot and his interview with Tucker Carlson, who once hosted on Fox News.
On Thursday, August 24, a mugshot of Donald Trump was taken when he turned himself in at the Fulton County Sheriff's office as part of his criminal case in Georgia for allegedly trying to manipulate the will of voters in the 2020 election. This mugshot was made public after it was circulated after it was taken. Trump is accused of trying to manipulate the will of voters in the 2020 election.
On Friday, August 25, the former President, who has been quiet on X (previously Twitter) since his ban in January 2021 and later reinstatement by the then-CEO Elon Musk, posted his own mugshot for the first time in over two years. This marked the first time in over two years that the former President had shared a photo of himself.
TRUMP DIGITAL TRADING CARDS INCREASED IN TRADING VOLUME BY 160%
In December 2022, the Trump Digital Trading Cards, which were issued on the Polygon chain, were released to the public, which caused the NFT community to get quite excited. However, people's interest in the non-fungible tokens appeared to be fading, evidence of the NFT market's downward trend.
According to statistics obtained from the NFT marketplace OpenSea, trading cards have been brought back to life after experiencing a surge in trading volume of more than 160% in the last week. On August 25, a daily trading volume of 24.1 ETH was reported, marking the collection's best since May 4, when it reached that level.
During this same period, there was a significant increase in the number of sales of Trump Digital Trading Cards over the previous week. The data provided by THE OpenSea reveals that the number of transactions has increased by 155%, culminating in 237 exchanges in the last week.
In addition, due to the impact, there was an effect on the floor price of the digital trading cards, which rose by 52% over the previous week. As of the time this article was written, the cheapest non-fungible token available from this collection can be purchased for 0.1797 ether.
DOES CRYPTO MATTER IN THE RACE FOR THE US PRESIDENCE?
In recent years, various political leaders have made conversations regarding the cryptocurrency and blockchain industries one of their key objectives. These politicians have done this for a variety of reasons. On Twitter in January 2019, President Trump declared that he was "not a fan" of Bitcoin, which was the most valuable asset on the cryptocurrency market then. Currently, Bitcoin is still the most valuable asset.
The position of some who have been long-term detractors of crypto assets, particularly Bitcoin, appears to be shifting. At the beginning of August, Bitcoinist published an article stating that President Trump had over $2.8 million worth of Ether, the second-largest cryptocurrency when measured by market cap.
Because candidates for President who are outspoken advocates of Bitcoin, such as Robert F. Kennedy Jr. and Vivek Ramaswamy, are also running for office, it would be fascinating to observe the attitude the political landscape takes towards the cryptocurrency economy over the next several months.
0 Comments