Former US President Donald Trump’s NFT collections have experienced a surge of over 3700% in transaction volume since he turned himself in to authorities in Georgia on August 24th. Trump returned to social media platform X by posting a mugshot and proclaiming his innocence. His X account was suspended following the Capitol Hill incident, but was reinstated after Elon Musk acquired the platform. Trump’s account continues to have a substantial following.
Trump’s NFT Adventure
According to data from cryptocurrency price analysis platform Coingecko, the transaction volume of Trump’s NFT collections, Trump Digital Trading Cards and Trump Digital Trading Cards Series 2, increased by approximately 300% and 3750% respectively in the past 24 hours, reaching 18.89 ETH (31,429 dollars) and 9.88 ETH (16,361 dollars).
The increase in sales volume raised the base prices of the collections, with the base price of the first collection reaching 313 dollars and a market value of 14.07 million dollars. Similarly, the base price of the second collection increased to 50 dollars, with a market value of 2.3 million dollars. Furthermore, another example of an event related to Trump impacting the value of his NFT collections was seen earlier this year when the sales volume of his first collection increased by 461% after being indicted by a grand jury.
Trump Shares Mugshot
Former US President Donald Trump made a comeback on social media platform X on August 24th by sharing a mugshot, indicating his return after a hiatus of over two years. The post included a link to a website that defined his arrest as a violation of justice and election interference. He also claimed his innocence and urged his followers to contribute to his legal defense fund.
Following concerns of incitement to violence after the Capitol Hill incident, Trump’s X account was permanently suspended in January 2021. However, after Elon Musk acquired the social media platform, the decision was reversed. Trump’s account continues to be one of the largest accounts on the platform with over 86 million followers. His latest post received 126 million views and 1 million likes within 11 hours.
Meanwhile, Trump became the first former US president to have his mugshot taken after being held at Fulton County Jail in Georgia. According to CNN, he secured his $200,000 bail by collaborating with Foster Bail Bonds LLC, a local Atlanta bail bond company.
