days after former president Donald TrumpAs NFT collections dominated the cryptosphere and attracted social media attention, excitement around the project has waned, driving down its prices and trading volume. after the weekend,
According to Information Trading volume for Trump’s digital trading card, from CryptoSlam, built on Ethereum ETH/USD scaling network polygon matic/usdOn December 17, it reached a peak of over $3.5 million.
On Sunday, the average selling price of NFTs rose even further to $680 per piece, despite overall volume for the day falling slightly below $1.95 million.
However, on Monday, day-to-day trading in Ethereum dropped by 57% to around $836,000, with an average selling price of around $466.
The Trump NFT is currently being offered for sale on Apex Markets OpenSea for only 0.21 ETH, or approximately $255.
Trump released his digital trading cards last Thursday, and in the initial sale, 44,000 of the NFTs were sold for $99 each.
Buyers are enticed by the chance to meet and greet a former president, among other potential benefits.
The project founders held up an additional 1,000 NFTs, bringing the total supply to 45,000.
Even though critics, and even some of Trump’s followers, scoffed at the project, it sold out in less than 24 hours, creating demand on the secondary market.
Since then, the total amount of secondary trades for the project has exceeded $8.7 million.
The minimum price, or cheapest NFT, was reached on Saturday at 0.84 ETH (about $990) as momentum reached its peak over the weekend.
NBC’s late-night comedy program, Saturday Night Live, before mocking NFTs at prices market volatility,
The floor price has come down by 74% in just three days.
Trump’s digital trading card project comes in at number 10 on CryptoSlam’s list of best-selling projects in the last 24 hours.
It had nearly $472,000 in sales during that time period, while Bored Ape Yacht Club (BAYC) leads the list with $3.8 million in NFT sales.
The initiative has come under fire for allegedly using as well as linking two controversial topics – Trump and NFTs Stolen artwork on some of its cards,
Photo: Courtesy Gage Skidmore on flickr.