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Trump NFTs surge above $1,000 following New York grand jury indictment

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(Kitco News) - Following the indictment of Donald Trump by a grand jury in New York on Thursday evening, the non-fungible token (NFT) collection released by the former POTUS has seen a surge in activity, with sales volumes and floor prices rising.

Data provided by CryptoSlam shows that in the past 24 hours, there have been a total of 185 sales transactions related to the collection, an increase of 374.4%, while the 24-hour sales volume currently sits at $190,127, an increase of 488.2%.

The total volume of sales in Ether (ETH) terms is 106 Ether, and the floor price of the collection, which represents the lowest price paid for any one token, has risen to 0.55 ETH ($1,001), an increase of 18.83%.

The fact that only a small percentage of the total collection is currently listed for sale has helped contribute to bigger gains, with data from OpenSea showing that only 2% of the 45,000 NFTs in the collection are listed for sale while there are 13,955 distinct owners.

Trump originally launched the collection back in December, selling each token for $99 apiece. The collection quickly sold out, but saw a pullback in trading activity shortly after its launch as NFT fans moved on to other projects while Trump supporters were content to simply hold their NFTs.

The floor price of the collection hit a low of 0.145 ETH on January 6 – the 1-year anniversary of the U.S. capitol “insurrection” that remains a very divisive event in U.S. politics – and hit a high of 0.675 ETH on February 13. In dollar terms, that represents a swing from $184 to $1,016.

Trump launches new NFT Digital Trading Card collection

Numerous commentators, including Elon Musk, have suggested that the indictment and any possible arrest of Trump would directly lead to his re-election in 2024, and if the response to his NFT collection following the indictment announcement is any clue, they may be onto something.

At the time of writing, the U.S. population awaits further details on the indictment and what specifically Trump is being charged with. But the indictment itself has already created a windfall for some NFT holders.

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