The arrest of former U.S. President Donald Trump in Manhattan caused a stir on Tuesday. The criminal case against him seems to have elevated his infamy as sales of Trump’s non-fungible token (NFT) ‘trading cards’ as its sales surpassed 200% since his arrest.
Donald Trump has become the first president, former or sitting, ever to face criminal charges following a criminal indictment in New York. Oddly enough, his arrest has triggered a rally in the price floor of the Trump Digital Trading Card NFTs.
Trump NFT Sales Surges
The Digital Trading Cards collection witnessed a 220% surge in trading volume in the past 24 hours. Sales of around $75,000 worth of Trump NFT were made within a day, according to CryptoSlam data.
Meanwhile, the number of sales transactions rose by more than 190% within the same time frame.
As a result of the sales volume hike, the floor price of the collection showcased a similar trend. The price of the cheapest listed NFT in the group after a 4.3% increase is 0.47 ETH. This is equivalent to $908 at current prices. Meanwhile, the market cap of the NFTs also increased by 7% to 21,150 ETH.
The collection of 45,000 cards minted on Polygon and Ethereum, released last year in December for $99 each, quickly sold out. The purchase of these cards allegedly also enters the buyer into a sweepstake to win other prizes, including a personal meeting with the former president, playing golf, and a cocktail hour at the Mar-a-Lago club.
Details of the Case
Donald Trump pleaded not guilty Tuesday to 34 felony counts of falsifying business records related to his alleged role in hush money payments toward the end of his 2016 presidential campaign.
During the 2016 U.S. presidential campaign, it was alleged that Donald Trump had an extramarital affair with adult film actress Stephanie Clifford, also known as Stormy Daniels. In the lead-up to the election, Trump’s attorney Michael Cohen arranged to pay Daniels $130,000 in exchange for her signing a nondisclosure agreement (NDA) that would prevent her from publicly discussing the affair.
In 2018, Cohen pleaded guilty to several charges, including making an excessive campaign contribution with the hush money payment to Daniels. Cohen claimed that he had made the payment at the direction of then-candidate Trump, who was aware of the amount and had authorized it.
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