During the first five weeks of its existence, Donald Trump’s NFT collection exemplified a significant portion of the disorder and volatility that characterizes the NFT market. Despite widespread ridicule, the collection proved successful and was eventually bought out. Currently, there has been a considerable increase in the number of sales.
The daily sales of the official Trump Digital Trading Cards collection had a surge of over 800% from Tuesday to Wednesday, rising from approximately $34,000 to over $306,000.
This is what the day has shown so far, according to statistics from the analytics platform CryptoSlam, which offer a constant growth in sales of up to 241,000 dollars. Compared to the previous reporting period, the website showed a 24-hour trade volume of 1,900% higher when it was posted yesterday morning.
Although more NFTs were traded each day, the average price continued to rise throughout the week. On Tuesday, the total number of trades that took place on CryptoSlam was 115, and the selling price of NFTs was $296 USD. Yesterday, there were seven hundred and four transactions involving NFTs, and the average price was $435. Approximately $670 has been paid out so far today, on average, across all trades.
According to data from NFT Floor Price, the starting price has approximately multiplied by two since it was initially set at $235 worth of ETH on Wednesday morning. As of the time of this writing, it has increased to $454. This morning, it even briefly surpassed $500 for a short period of time.
Some people on Crypto Twitter believe that the increase in activity can be attributed to a rumor about a former president of the United States mulling over the possibility of rejoining traditional social media networks, despite the fact that there may not be a single apparent reason for the rise in activity levels. After he incited violence against the United States Capitol on January 6, social media giants Facebook and Twitter removed him from their services.
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