Trump NFTs Surge on Arrest Rumors

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  • Trump-linked NFTs have increased in value after rumors of an impending court case
  • The collectibles’ floor prices have risen by over 20%
  • Its trading volume has also increased by close to 70%

Donald Trump-linked NFTs, Donald Trump Digital Trading Cards, have increased in value after rumors spread that the United States government is preparing to take the former president to court. The collectibles’ floor price and trading volume have increased by 20% and 70%, respectively. The former U.S. president is accused of mishandling classified information and lying about the usage of public funds.

Trading Volume Increases by 69%

At the time of writing, the 7-day floor price has increased by 23% to 820 MATIC while the trading volume rose by 69% to 421 ETH. The sales also rose by 33% to 767 in the last week, according to leading NFT marketplace OpenSea. The five priciest NFTs are listed between $775 and $950 at between 15% below the floor price and 2% above the floor price. However, the rise is nowhere close to the frenzy surrounding the collectibles after their launch three months ago.

The surge in the NFTs’ floor price and trading volume comes after news spread that the U.S. government is contemplating suing its former president on grounds of mishandling confidential information and misusing public funds. 

According to Fox News, Trump is likely to face charges of using public funds to pay adult actress Stormy Daniels but indicated that the money went into paying for legal services, a crime that carries a maximum jail term of four years.

Sponsoring Capitol Hill Attack?

Other reports indicate that the former U.S. president may face charges of keeping classified documents in his private residence and his presumed hand in the Capitol Hill attack that happened in early 2021. 

Trump’s wife, Melania Trump, also has an NFT collection which was marred with controversy shortly after its launch in February 2022.

With Trump NFTs’ value surging on rumors of a possible indictment, the value will likely reach new highs if he’s formally taken to court.