- Trading volume for Trump’s NFTs spiked over 200% after DeSantis endorsed Trump’s reelection bid and suspended his own campaign.
- The spike shows Trump’s NFTs remain popular, though floor prices fell around 4% amid increased volume, indicating cooling demand.
- Supporters are still eager to trade Trump’s digital collectibles, with the endorsement giving the market a temporary boost after months of declines.
Recently, trading volume for Donald Trump’s NFT collection surged over 200% after Florida Governor Ron DeSantis suspended his own presidential campaign to endorse Trump’s reelection bid. This large spike highlights the ongoing popularity of Trump-related digital collectibles.
DeSantis endorses Trump
In a video shared on social media, DeSantis announced he was suspending his presidential campaign to back Trump‘s bid for reelection. DeSantis said that Republican primary voters want to give Trump another chance.
Throughout his campaign, DeSantis strongly supported Bitcoin and criticized potential CBDCs. His views align with Trump’s opposition to government digital currencies.
Some in crypto believe rallying around Trump could benefit the industry. Messari CEO Ryan Selkis said surrounding Trump with pro-crypto people like DeSantis is key for crypto’s future success.
Trading volume spikes
According to CryptoSlam, trading volume for Trump’s Series 1 NFTs jumped 248% to nearly $90,000 in 24 hours. Meanwhile, volumes dropped for his Series 2 and MugShot NFTs.
Per CoinGecko, floor prices for Trump’s NFT collections fell around 4% amid the trading spike. The increased volume but lower prices show demand remains high but may be cooling off.
Conclusion
The endorsement from DeSantis gave Trump’s NFT demand a shot in the arm, at least temporarily. Supporters are still eager to trade the former president’s digital collectibles. Time will tell whether the higher volume is sustained or just a short-term blip. But for now, the Trump NFT market is seeing renewed interest after months of declines.
