The Decline of Trump’s Digital Trading Cards
On April 23rd, it was reported that the second series of personal NFT \”Trump Digital Trading Cards\” launched by former US President Trump currently has a floor price of less than $
On April 23rd, it was reported that the second series of personal NFT “Trump Digital Trading Cards” launched by former US President Trump currently has a floor price of less than $78, a drop of more than 20% from the $99 launch price. According to Open Sea data, the floor price of the NFT series quickly declined on April 19th and is currently trading at 0.042 ETH, approximately $77.87. As of April 22, the NFT series has sold 14755 units with a trading volume of 1037ETH and a value of approximately $1.9 million. In the past five days, its trading volume has significantly decreased, from 482 ETH on April 18 to 25.49 ETH on April 22. In addition, the floor price of Trump’s first NFT series has also dropped by 64%, to 0.1379 ETH as of the time of publication. However, its sales volume increased by nearly 500% to 1779 transactions, with a trading volume of 284 ETH, an increase of over 150%. The trading activities are mainly concentrated on the day of the second series release. Previously, according to official website data, the second series of “Trump Digital Trading Cards” were sold out within 24 hours of opening, and its sales ranked first within 24 hours. （CryptoSlate）
Trump’s Personal NFT Second Series Floor Prices Fall by Over 20%
Former US President Donald Trump has launched the second series of his personal NFT “Trump Digital Trading Cards”, but it seems that their value is decreasing in the market. On April 23rd, it was reported that the floor price of the series dropped by more than 20% from its launch price. This decline is raising questions about the future of NFTs and their role in the world of cryptocurrency.
What are NFTs?
First, let’s define what an NFT is. NFT stands for “Non-Fungible Token”, which means that it is not interchangeable with other tokens because it is unique. In other words, an NFT is a one-of-a-kind digital asset that is verified using blockchain technology. This means that it’s impossible to counterfeit, and it’s one of the reasons why NFTs have become so popular.
Introduction to Trump’s Digital Trading Cards
Now let’s take a closer look at Trump’s digital trading cards. The former president launched his first series of NFT trading cards in March 2021 through the Blockchain Heroes platform. The cards featured images of Trump on different backgrounds, alongside famous quotes from his presidency. The first series saw a drop in its floor price of 64%, but its sales volume increased by nearly 500%.
On April 19th, Trump launched his second series of NFT trading cards, and the sales were also phenomenal. The official website claimed that the second series was sold out within 24 hours of opening, making it the top-selling series of the day.
The Recent Decline
However, the enthusiasm for Trump’s digital trading cards seems to have diminished rather quickly. The floor price of the second series has dropped by more than 20% from its launch price, and its trading volume has significantly decreased over the past few days. As of April 22nd, the NFT series has sold 14,755 units with a trading volume of 1037ETH and a value of approximately $1.9 million. Its trading volume has significantly decreased, from 482 ETH on April 18 to 25.49 ETH on April 22.
The floor price of Trump’s first NFT series has also dropped by 64%, to 0.1379 ETH as of the time of publication. However, its sales volume increased by nearly 500% to 1779 transactions, with a trading volume of 284 ETH, an increase of over 150%.
The Future of NFTs
The decline in the value of Trump’s digital trading cards raises questions about the role of NFTs in the world of cryptocurrency. Some experts suggest that the current frenzy surrounding NFTs is a bubble that will eventually burst.
However, others believe that NFTs have the potential to revolutionize the art industry by providing a new platform for artists to showcase their work and receive compensation for it. NFTs also allow creators to sell their work directly to consumers without the need for intermediaries, such as galleries or auction houses.
Conclusion
The decline in the value of Trump’s digital trading cards is an interesting development in the world of NFTs. It raises questions about whether the current frenzy around NFTs is a bubble that will eventually burst or a sign of a paradigm shift in the art industry. Despite the decline in the value of Trump’s NFTs, the sales volume of his first series increased significantly, suggesting that there is still interest in his digital trading cards.
FAQs
1. What is an NFT?
An NFT is a one-of-a-kind digital asset that is verified using blockchain technology.
2. Why are NFTs becoming popular?
NFTs are becoming popular because they provide a new platform for artists to showcase their work and receive compensation for it. They also allow creators to sell their work directly to consumers without the need for intermediaries.
3. What is the future of NFTs?
The future of NFTs is uncertain, but they have the potential to revolutionize the art industry by providing a new platform for artists to showcase their work and receive compensation for it.
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