The Trump Digital Trading Cards: A Significant Drop in Floor Price

On April 23rd, it was reported that the second series of personal NFT “Trump Digital Trading Cards” launched by former US President Trump currently has a floor price of less than $78, a drop of more than 20% from the $99 launch price. According to Open Sea data, the floor price of the NFT series quickly declined on April 19th and is currently trading at 0.042 ETH, approximately $77.87. As of April 22, the NFT series has sold 14755 units with a trading volume of 1037ETH and a value of approximately $1.9 million. In the past five days, its trading volume has significantly decreased, from 482 ETH on April 18 to 25.49 ETH on April 22. In addition, the floor price of Trump’s first NFT series has also dropped by 64%, to 0.1379 ETH as of the time of publication. However, its sales volume increased by nearly 500% to 1779 transactions, with a trading volume of 284 ETH, an increase of over 150%. The trading activities are mainly concentrated on the day of the second series release. Previously, according to official website data, the second series of “Trump Digital Trading Cards” were sold out within 24 hours of opening, and its sales ranked first within 24 hours. （CryptoSlate）

Trump’s Personal NFT Second Series Floor Prices Fall by Over 20%

The second series of personal NFT “Trump Digital Trading Cards” launched by former US President Trump has seen a significant drop in its floor price. On April 23rd, it was reported that the floor price of the NFT series had dropped to less than $78, an over 20% drop from the launch price of $99. According to Open Sea data, the floor price of the NFT series declined rapidly on April 19th and is currently trading at 0.042 ETH, or approximately $77.87. This article delves into the details of the drop in price, the current sales volume, and the trading activities surrounding the second and first series.

The Current Status of Trump Digital Trading Cards

As of April 22nd, the NFT series of Trump Digital Trading Cards has sold 14,755 units with a trading volume of 1037 ETH and a value of approximately $1.9 million. However, in the past five days, its trading volume has significantly decreased from 482 ETH on April 18th to 25.49 ETH on April 22nd. This sudden drop in trading volume points towards a decrease in demand for the NFT series.
Additionally, the floor price of Trump’s first NFT series has also dropped by 64% to 0.1379 ETH as of the time of publication. However, its sales volume increased by nearly 500% to 1779 transactions with a trading volume of 284 ETH, an increase of over 150%. The trading activities primarily concentrated on the day of the second series release.
Trump’s second series of “Digital Trading Cards” were officially sold out within 24 hours of opening, according to official website data. Its sales ranked first within 24 hours. Nevertheless, with a drastic decrease in trading volume and floor price, this could indicate that the hype around Trump NFT series has died down considerably after the initial release.

The Potential Reasons for the Drop in Price

There could be various reasons for the drop in the floor price of NFTs in the Trump Digital Trading Cards series. One probable cause could be the overall state of the cryptocurrency market. This year, cryptocurrencies have seen significant drops in value, especially Bitcoin, which has experienced tremendous volatility. In addition, the SEC’s decision to bring more regulations on cryptocurrencies could have caused investors to become wary of investing in NFTs.
Another possible reason could be the unfavorable publicity surrounding Trump, primarily in the wake of the US Capitol riot earlier this year. The political climate in the United States has been increasingly tense these past few years, causing individuals to be wary of investing in products that could be viewed as controversial.

Conclusion

The Trump Digital Trading Cards series experienced a quick drop in floor price in the past week, along with a significant decline in trading volume. There could be several reasons for this, including the general trend in the cryptocurrency market and the current political climate in the United States. However, it is still too early to predict confidently if the trend in declining prices will continue in the long run or not.

FAQs

1. What are NFTs, and how do they work?

NFTs, or Non-Fungible Tokens, are digital assets that represent ownership of a unique item or asset. Unlike traditional cryptocurrencies like Bitcoin, NFTs can be used to represent a wide range of assets, including art, video game items, and even tweets.

2. How do NFTs differ from cryptocurrencies?

While NFTs share some similarities with cryptocurrencies like Bitcoin, they are distinct in several ways. For example, cryptocurrencies are fungible, meaning that a Bitcoin is the same as any other Bitcoin, no matter who owns it. On the other hand, NFTs are unique and represent ownership of a specific asset.

3. Are NFTs a good investment?

As with any investment, there is no guarantee of profit, and individuals should do their research before investing in NFTs. It is crucial to understand the current market trends and the specific NFT’s underlying asset’s popularity before investing.