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Trump Digital Trading Cards, a non-fungible token (NFT) collectible featuring portraits of Donald Trump, experienced a surge in price and trading volume following what many would call an “eventful” week in the US political landscape.
This surge in trading activity has been linked to the release of a mugshot of the former President of the United States and his interview with former Fox News host, Tucker Carlson.
On Thursday, Aug. 24, a mugshot of Donald Trump is taken and circulated after he presented himself at the Fulton County Sheriff’s Office in Georgia as part of his criminal case for allegedly trying to manipulate voter turnout in the 2020 election .
The former president, who was inactive on X (formerly Twitter) following a ban in January 2021 and subsequent reinstatement by then-CEO Elon Musk, posted his own mugshot on Friday, Aug. 25, for the first time in more than two years.
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– Donald J. Trump (@realDonaldTrump) 25 August 2023
Trump Digital Trading Card Trading Volume Increases 160%
Trump digital trading cards – molded on the Polygon series – are slated to launch in December 2022, sparking excitement in the NFT community. However, interest in non-fungible tokens seems to be waning, as evidenced by the decline in the NFT market.
Interestingly, trading cards seem to be reviving after trading volume increased by over 160% last week, according to data from NFT marketplace OpenSea. A daily trading volume of 24.1 ETH was recorded on August 25, the highest collection since May 4.
Meanwhile, the past week also saw a significant increase in sales of Trump digital trading cards. According to OpenSea data, the number of sales increased by 155%, resulting in a total of 237 trades over the past seven days.
Additionally, the minimum value of digital trading cards was also affected, increasing by 52% in the past week. At the time of writing, the minimum price for a non-fungible token from this archive is 0.1797 ETH.
US Presidential Race – Does Crypto Matter?
The cryptocurrency and blockchain industry has been a major talking point for many political leaders in recent times. Trump said on Twitter in 2019 that he was “not a fan” of bitcoin, the leading asset in the cryptocurrency market.
Interestingly, the attitude of longtime critics of crypto assets – especially bitcoin – appears to be changing. Earlier in August, Bitcoinist reported that Trump owned more than $2.8 million worth of ether, the second largest cryptocurrency by market cap.
With vocal supporters of bitcoin such as Vivek Ramaswamy and Robert F. Kennedy Jr. running for president, it will be interesting to see how the political landscape towards the crypto economy changes in the coming months.
Total market capitalization of crypto $1.03 trillion | Source: Daily Totals chart on TradingView
Featured image from Unsplash, chart from TradingView
Source: bitcoinist.com