Trump’s NFT collection seems unstable over the weekend

Donald Trump’s NFT collection,  announced for release recently, goes through a rough swing during the weekend – December 18, 2022, and December 19, 2022. According to data shared by OpenSea, the price of the NFT collection peaked at 0.839 ETH before falling to 0.295 ETH over the weekend. Another reward is a ticket to a gala dinner with Donald Trump for the user who gets their hands on 45 non-fungible tokens. Trump’s NFT collection had entered the market with an initial minting price of $99 per card with several rewards waiting to be picked up. NBC’s “Saturday Night Live’’ saw Trump and the collection being spoofed.

Initially, the collection was a hit by getting sold hours after its release. The floor price had no sign of regaining the stability that is expected. The NFT market, or the crypto market, has been on a wild ride for a long time. Volatility leaves a long-lasting impression. Furthermore, this is evident from the price of BTC, which is currently running on a graph at $16,761.40. ETH is walking the same path at $1,184.97. These values are true at the time of drafting this article.

The NFT market is no different, as volatility has been playing hide & seek with it. Returning to Trump’s NFT collection, according to a set of data shared by OpenSea, the trade volume has registered a mark of 5,824 ETH with total sales of 21,479.

The highest-selling NFT went to a user for 37 ETH, equaling approximately $41,000. It shows Donald Trump in a tuxedo standing in front of a staircase with black & white color texture. Other pieces of NFT in the collection showcase similar emotions, a hit among those who love the former President of the United States of America. It is the first NFT collection by Donald Trump that has landed on the market. It has benefits that are sure to reward users who invest a fair share of their wealth in digital collectibles. For instance, one can consider going for a chance to interact with Trump in person in the form of a one-to-one meeting.

Digital cards brought by Donald Trump are a part of a limited edition collection. It has been stated on a few occasions that an NFT is akin to a baseball card, except that Trump’s NFT collection proves to be more scintillating and thrilling.

There is speculation that endorsements like these negatively influence the price of a single collection and the entire NFT market. The Crypto market is being dragged along because it is a part of the same ecosystem. As a result of price fluctuations and volatility, several brands and public personalities have begun shedding their NFT collection.

Fluctuations over the weekend are expected to be a part of what the entire digital industry is going through, with no other adverse effect.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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