Trump’s NFT collections experience price decline amid crypto market turbulence

Trump’s NFT collections experience price decline amid crypto market turbulence

The floor price of former President Donald Trump’s second NFT collection drops below its initial purchase price, while Series 1 sees a surge in sales despite a decreasing floor price.

Donald Trump’s Series 2 NFTs struggles

Donald Trump’s second NFT collection has seen a more than 10% decline in floor price, currently sitting at around $88, below its original purchase price of $99. OpenSea analytical data reveals that the floor price quickly dropped on April 19, reaching 0.0468 Ethereum (ETH), or approximately $87.84. Since then, the volume of sales has also decreased significantly, falling from 482 ETH on April 18 to a mere 25.49 ETH on April 22.

In contrast to the downturn in Series 2, Trump’s first NFT collection has experienced a substantial increase in sales. Despite a 64% decline in floor price, which now stands at 0.14 ETH, the number of sales has risen by nearly 500%, reaching 1,779. 

The trading volume for the first collection has also surged, showing an increase of over 150%. The majority of sales and trading volume occurred on April 18, coinciding with the announcement of the Series 2 collection.

Factors impacting Trump NFT collections

The fluctuating prices and sales of Trump’s NFT collections can be partially attributed to the announcement of the Series 2 collection. Upon its unveiling, the Series 1 collection experienced a 58% drop in floor price. 

For the release of the second collection, Trump’s team has provided fewer additional incentives compared to the Series 1 launch. However, buyers who purchase 47 of the NFT trading cards will reportedly receive a ticket to a gala dinner with Trump at his Mar-a-Lago golf club in Florida. In contrast, Series 1 buyers were offered potential rewards such as Zoom calls with Trump or in-person meet-and-greets.

The Series 2 set expands on the themes of the original collection, which depicted Trump as a superhero, astronaut, cowboy, and other larger-than-life characters. The new NFT artwork portrays Trump holding a championship pro wrestling belt, dressed as a hunter, and wearing firefighting gear.

Liquidation across the crypto market

The overall crypto market has also been affected by substantial liquidations, with Bitcoin’s price plummeting to $27,300, resulting in almost $200 million in liquidations over 24 hours.

Data from Coinglass indicates that the cryptocurrency market faced $191.98 million in liquidations within a day. Bitcoin and Ethereum alone saw $63.03 million and $54.20 million liquidated, respectively. Other digital assets, such as Dogecoin, Arbitrum, Chainlink, XRP, Litecoin, and Solana, experienced less than $5.5 million in liquidations.

As the crypto market rollercoaster ride continues, it appears that Trump’s NFT collections are experiencing both the highs and lows of this digital asset theme park.

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