Former President Donald Trump’s non-fungible token (NFT) series has exploded in price since his arrest in Atlanta, Georgia.
Trump turned himself in at the Fulton County jail on allegations that he attempted to conspire to overturn the results of the 2020 presidential election in Georgia.
Upon his arrest and Trump posting his mugshot to his account on the social media platform X, his first post since January 2021, prices of his NFT collection went skyward.
Data from the NFT marketplace OpeanSea shows that the price floor of the Trump Digital Trading Card collection jumped from 0.13 Ethereum (ETH) worth $213 to 0.22 ETH worth $361 on August 24th.
Commenting on the trend, crypto reporter Colin Wu says,
“After the arrest of former US President Trump, the trading volume of Trump Digital Trading Cards, his personal NFT collection, increased by 177% in the past 7 days to 37.93 ETH, of which it reached 24.1 ETH on August 25, the highest since May 4. The floor price also surged 61% to 0.19 ETH.”
At time of writing, the floor price of Trump’s NFT collection stands at 0.175 ETH worth $287.84.
According to a financial disclosure filing with the Office of Government Ethics, Trump owns a cryptocurrency wallet with holdings valued somewhere between $250,001 and $500,000.
The wallet is labeled on the document as “(Ethereum),” though it remains unclear if his holdings are in ETH, other ERC-20 tokens and/or other digital assets like non-fungible tokens (NFTs).
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Solarisys