Trump’s NFT collection has already experienced wild volatility in its first 5 weeks of existence: first, it was laughed at, but quickly sold out, then the prices surged before crashing. And now the prices are suddenly increasing again. CoinGecko reasoned the floor price rise to reports of Trump's planned return to Instagram and Facebook.
The collection was involved in 961 transactions in 24 hours on January 19, and its sales volume surged 1687% to 316 ETH, according to OpenSea data. CryptoSlam’s data shows that the collection’s sales volume over the last seven days was above $999,000. According to data from NFT Floor Price, the starting price has grown from $235 worth of ETH to $512 in less than a week.
Amid his plans to campaign for the US presidency, Donald Trump reportedly petitioned Facebook’s parent company, Meta, to unblock his account on the platform. His Twitter account was recently unbanned by Elon Musk after he bought the platform late last year.
President Trump’s NFTs sold out within 24 hours of its launch on December 15. However, interest in the collection soon vanished. This recent rise is sudden but totally explainable by the social media hype, which is unlikely to last long. We continue to observe.