After the Manhattan indictment, Trump’s NFT trading cards see a sharp increase in value – here’s why
Digital trading cards associated with Donald Trump, the 45th president of the United States, have seen a price increase following news that a Manhattan grand jury voted to indict him.
According to NFT data aggregator NFTPriceFloor, the floor price of Trump’s NFTs is currently set at 0.499 ETH, or over $900 at current rates. In comparison, the cards were originally priced at $99 and dropped to as low as 0.02 ETH (around $35) in late December last year.
The NFT collection has also seen an increase in trading volume. On March 31, a day after the former president was indicted, trading volume for his digital cards increased to 87 ETH (around $160,000), compared to 34 ETH the previous day.
Trump’s NFTs averaged 0.4555 ETH, or about $800 – down more than 16% in the last 24 hours. The highest sale rose to 0.9298 ETH, which equates to nearly $1,700 — a 23% increase over the same period, according to the site.
As reported, the former president released his collection of NFTs, dubbed “Trump cards,” last December.
The NFT collection features a series of digital “cards” depicting Trump in various iconic poses and situations, which include Trump as a muscle-bound champion wrestler, Trump holding a basketball and even Trump in outer space.
“These limited edition cards feature amazing ART of my Life & Career!” he said at the time, adding that the cards, which cost $99 (£81) each, “would make a great Christmas present.”
There were a total of 45,000 NFTs, all minted on Polygon, a layer-two scaling solution that runs alongside the Ethereum blockchain and allows for fast transactions and low fees.
Trump indicted on criminal charges
On March 30, Trump was indicted on criminal charges by a New York grand jury in a first for a former US president. The exact nature of the charges remains unclear because the indictment remains under seal, but they stem from payments made during the 2016 presidential campaign to hush up allegations of an extramarital sexual encounter.
More specifically, Trump’s former lawyer, Michael Cohen, allegedly sent $130,000 in hush money to porn star Stormy Daniels back in 2106. Daniels claims to have had an affair with Trump, which he denies, along with allegations that he was involved in to pay her to keep quiet.
Trump also faces more than 30 counts related to business fraud in the indictment, CNN reported, adding that the former president is expected to be arraigned in Manhattan Criminal Court next Tuesday.
Meanwhile, in a recent statement, Trump attacked District Attorney Alvin Bragg and other Democrats following news of the indictment. “I think this witch hunt will backfire massively on Joe Biden,” the former president said in a statement Thursday.
“The American people realize exactly what the radical left Democrats are doing here. Everyone can see it. So our movement and our party – united and strong – will first defeat Alvin Bragg, and then we’ll defeat Joe Biden, and we’re going to throw every single one of these crooked Democrats out of office so we can MAKE AMERICA GREAT AGAIN! “
