Trump NFT Ideas As Hype Dies, Lowest Price Cut 70%

Briefly

  • The value of the Donald Trump NFT Collection is dropping as sales plummet after a brief rally over the weekend.
  • Trading volume is down 57% from Sunday to Monday, while the price of bottom line NFTs is down 74% since peaking on Saturday.

Donald Trump The first official NFT collection was it Talking about the world of cryptography Late last week, Twitter attracted and Late night TV in processing. But after a rally in prices and volume over the weekend, both metrics have fallen sharply as the hype surrounding the disgraced former US president’s project appears to be winding down.

Trump’s digital trading card, which is embossed Ethereum mesh sizing ribbedIt peaked on Saturday, December 17 with a trading volume of more than 3.5 million US dollars, according to data from cryptoslam. The selling price rose even higher on Sunday, with NFTsThey sold for an average of just over $680 each, though total volume dropped to roughly $1.95 million per day.

However, intraday trading on Monday was down 57% to around $836,000 in ETH, with the average selling price dropping to around $466. Today, the cheapest Trump NFT available for sale is listed on leading market OpenSea at 0.21 ETH, or about $255.

Trump launched NFTs for his digital trading card last Thursday, with 44,000 NFTs selling for $99 each in the base sale. Buyers were encouraged by the chance to win a meet-and-greet or dinner with the former president, among other potential perks. Another 1,000 NFTs have been parked by the project creators, for a total supply of 45,000.

Despite the widespread mockery and criticism of the project – even from Some Trump supportersThe project sold out within 24 hours It fueled demand in the secondary market. Since then, the project has raised more than $8.7 million in secondary deals.

Momentum peaked over the weekend, with the lowest price — or cheapest NFT listed — at 0.84 ETH (around $990) on Saturday. Prices have gone up and down in a volatile market before NFTs are issued On NBC’s late night comedy show, Saturday Night Live. Just three days later, the lowest price fell by 74% in terms of US dollars.

Trump’s digital trading card project is only ranked 10th on CryptoSlam’s list of best-selling projects over the past 24 hours. Sales are about $472,000 during that time, while Monkey Yacht Club Boredom He tops the list with $3.8 million in NFT sales.

Besides being two already divisive subjects (Trump and NFT), the project has It also received criticism to use stolen artwork for some of their cards. In addition, it shows the 1000 NFT held by the creators of the project It contains a disproportionate amount A “rare” collectible, which has raised more suspicions from NFT observers.

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