After Manhattan Indictment, Trump's NFT Trading Cards See Sharp Rise in Value – Here's Why
Digital trading cards tied to Donald Trump, the 45th President of the United States, have seen a spike in price following news that a grand jury in Manhattan voted to indict him.
According to NFT data aggregator NFTPriceFloor, the floor price of Trump's NFTs currently sets at 0.499 ETH, or over $900 at current rates. In comparison, the cards were initially 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 a surge in trading volume. On March 31, one day after the former president was indicted, the trading volume of his digital cards spiked to 87 ETH (around $160,000), compared to 34 ETH the earlier day.
Trump's NFTs had an average sale of 0.4555 ETH, or roughly $800 — down by more than 16% in the last 24 hours. The highest sale soared to 0.9298 ETH, which equates to nearly $1,700 — an increase of 23% in the same period, according to the site.
As reported, the former president released its collection of NFTs, dubbed "Trump Cards," in December last year.
The NFT collection features a series of digital "cards" depicting Trump in various iconic poses and situations, which include Trump as a muscle-bound wrestling champion, Trump holding a basketball, and even Trump in space.
"These limited edition cards feature amazing ART of my Life & Career!" he said at the time, adding that the cards, costing $99 (£81) each, "would make a great Christmas gift."
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 speedy transactions and low fees.
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
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