Daily sales increased by approximately 800%, from about $34,000 to over $306,000.

Each day, more NFTs were exchanged, but the average price also increased.

In its initial five weeks of existence, Donald Trump’s NFT collection encapsulated much of the chaotic volatility of the NFT market. The collection was widely mocked, yet it eventually sold out. We are seeing a dramatic uptick in sales now.

From Tuesday to Wednesday, daily sales of the official Trump Digital Trading Cards collection increased by approximately 800%, from about $34,000 to over $306,000.

That’s what the day so far has shown, according to statistics from analytics platform CryptoSlam, which shows a steady increase in sales to the tune of $241,000. Yesterday morning, the website reported a 1,900% increase in 24-hour trade volume compared to the prior reporting period.

Prices Hit $500 For a While

Each day, more NFTs were exchanged, but the average price also increased. There were 115 total trades on CryptoSlam on Tuesday, with an average NFT selling price of $296 USD. Seven hundred and four NFTs were traded yesterday, with an average price of $435. The average amount paid so far today is roughly $670.

It seems that the starting price has roughly doubled from $235 worth of ETH at the beginning of Wednesday to $454 as of this writing, as data from NFT Floor Price shows. This morning, it even hit $500 for a little while.

There may be no definite cause for the increase in activity, but some on Crypto Twitter attribute it to a rumor that the former president of the United States is contemplating a comeback to conventional social media networks. Social media giants Facebook and Twitter booted him from their platforms after he incited violence against the United States Capitol on January 6.

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Filed under: Bitcoin - @ January 21, 2023 8:04 am