Trump’s NFT Collection Rakes in Millions Despite Crumbling Prices
Donald Trump's NFT collection has experienced a decrease in value, with the current floor price at around $88, down by more than 10% from the original purchase price of $99.
OpenSea data shows that the floor price dropped rapidly on April 19 to 0.0468 Ethereum (ETH), which is equivalent to approximately $87.84. The NFTs had over 14,755 sales on April 22, amounting to 1037 ETH, or roughly $1.9 million.
However, the volume of sales has decreased significantly in the past five days, falling to 25.49 ETH on April 22 from 482 ETH on April 18.
The announcement of Trump’s Series 2 NFT collection caused the price of Series 1 to fall by 58% by April 19. As of April 22, the floor price of Trump’s first NFT collection has fallen by 64% to 0.14 ETH.
Sales of the first collection have increased by almost 500% to 1779, with a volume of 284 ETH, up over 150%. Most of the sales and volume for the first collection occurred on April 18, which coincided with the announcement of ‘Series 2.’
The fall in the floor price of both collections is also coinciding with a drop in Bitcoin’s value, which plummeted to $27,300, with liquidations reaching almost $200 million.