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Donald Trump's NFT Collection Crashes Over 50% After 12-Hour Selloff Frenzy

Published 19/12/2022, 05:46
© Reuters. Donald Trump's NFT Collection Crashes Over 50% After 12-Hour Selloff Frenzy

Benzinga - The price of Donald Trump’s nonfungible token collection has been highly volatile, plunging more than 50% in the last 24 hours.

What Happened: The NFT collection skyrocketed in trading volume after launching on Thursday, with 5,548 Ethereum (CRYPTO: ETH) traded for a total of over $6.5 million as of Sunday morning, according to OpenSea. Due to the immense popularity of the project, it currently sits at the top of OpenSea's homepage as the most trending asset.

The Trump Digital Trading Cards project has been incredibly volatile over the past day. The floor price peaked at around 0.84 ETH ($1,182) on Saturday, only to plunge as low as 0.33 ETH ($390) by early Sunday morning– representing a significant decrease in value.

See More: Best Crypto Day Trading Strategies

Trump NFTs have become a much-discussed topic on late-night television shows, including "Late Night with Seth Meyers," "The Tonight Show Starring Jimmy Fallon," "Jimmy Kimmel Live," and "The Late Night Show with Stephen Colbert."

The collection is made up of 45,000 individual collectibles and was sold out for $4.45 million within a day of launching. Originally priced at $99-apiece, individual NFTs have since fetched considerably higher prices due to the incredible demand.

Price Action: ETH was trading at $1,183, down 0.70% in the past 24 hours, according to Benzinga Pro data.

Read Next: Bitcoin, Ethereum, Dogecoin Flat Ahead Of Fresh Trading Week: Analyst Says Risk Aversion 'Running Wild' Amid Binance Worries

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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