SNEAK PEEK
- Trump NFT trading volume is down by 57% from its peak on Saturday.
- The NFT collection’s floor price also dropped by 74% after mention on SNL.
- Cryptoslam ranks Trump’s digital trading cards tenth on their top-selling projects list.
Former US president Donald Trump’s NFT collection has suffered severe loss after being the talk of the crypto town across Twitter and late-night TV including Saturday Night Life. Since its peak on December 17, the floor price is down by 74% while trading volume has fallen 57%.
According to Cryptoslam, the digital trading cards, built on Ethereum and scaled on Polygon, recorded $3.5 million worth of trading volume on Saturday. Moreover, Sunday witnessed a higher number of sales with each NFT selling at an average of over $680. However, the total trading volume was down to $1.95 million.
But, the storm came on Monday when day-over-day trading dropped 57% to about $836,000 worth of ETH while the average sale price fell to about $466. Meanwhile, the starting price for the cheapest Trump NFT on the marketplace OpenSea stands at $255 currently.
The main appeal of Trump’s 44,000 digital trading card collection, worth $99 a piece, was the opportunity to win a meet-and-greet or dinner with the ex-president, amongst other benefits. The project managed to sell out in just 24 hours citing demand in secondary markets, accumulating up to $8.7 million worth of secondary trades.
Sales shot up after NBC’s late-night comedy show, Saturday Night Live featured the project in their segment. However, only three days later, the floor price dropped by 74%.
Currently, CryptoSlam lists Trump’s digital trading cards project tenth on their top-selling projects over the last 24 hours, with $472,000 worth of sales during that span.
