The trading volume of former U.S. President Donald Trump’s NFT collections witnessed a staggering surge of over 3700% following his surrender to authorities in Georgia on August 24. This unexpected rise in trading activity has once again highlighted the intriguing relationship between Trump-related events and the value of his digital assets.

Coingecko data reveals that both Series 1 and Series 2 of the former President’s NFT collections experienced remarkable spikes in trading volume over the past 24 hours. Series 1’s trading volume surged by approximately 300%, reaching 18.89 ETH (equivalent to $31,429), while Series 2’s trading volume skyrocketed by an astonishing 3750% to 9.88 ETH (equivalent to $16,361).

Source: Coingecko

The surge in sales volume not only impacted the trading activity but also had a significant effect on the floor prices of the collections. The floor price of the first collection surged to $313, with its market capitalization soaring to $14.07 million. Similarly, the second collection saw its floor price escalate to $50, resulting in a remarkable market capitalization of $2.3 million.

This incident marks yet another instance in which Trump-related events have had a profound influence on the value of his NFT collections. Earlier this year, the sales volume of his Series 1 collection witnessed a remarkable 461% increase following his indictment by a grand jury.

The former President, known for his adept use of social media, recently made a grand return by sharing his mug shot on the platform X, previously known as Twitter. This marked his return to the platform after an absence of over two years. The mug shot was accompanied by a powerful caption that read, “ELECTION INTERFERENCE! NEVER SURRENDER!”

In his post, Trump provided a link to his website where he vehemently described his arrest as a “travesty of justice and ELECTION INTERFERENCE.” He remained steadfast in his assertion of innocence, proclaiming “NO CRIME” on his part and urging his followers to contribute to his cause.

It’s worth noting that former President Trump’s X account had been permanently suspended back in January 2021 due to concerns surrounding his potential incitement of violence following the U.S. Capitol incident. However, the platform reversed this decision after being acquired by Elon Musk, allowing Trump to make a triumphant return.

With an impressive following of over 86 million users, Trump’s account remains one of the platform’s largest. His recent post, featuring his mug shot and powerful message, quickly garnered an astonishing 126 million views and 1 million likes within a mere 11 hours.

Furthermore, this recent incident solidifies Trump’s unique position in history as the first former U.S. president to have his mug shot taken, following his booking at the Fulton County Jail in Georgia. According to a CNN report, he secured his $200,000 bond by collaborating with a local Atlanta bonding firm, Foster Bail Bonds LLC, and contributing 10% of the total amount.

Source: https://azcoinnews.com/donald-trump-nft-collections-see-remarkable-3750-trading-volume-increase.html