Trump NFTs sales volume skyrocket by 3,700% following mug shot release

The former President surrendered to authorities in Georgia on Aug. 24.

2 min read

Updated: August 25, 2023 at 2:42 pm

Gage Skidmore / CC BY-SA 2.0 / Wikimedia. Remixed by CryptoSlate

Former U.S. President Donald Trump’s NFT collections trading volume spiked by more than 3700% following his surrender to authorities in Georgia on Aug. 24.

According to Coingecko data, the former President’s collection Series 1 and 2 trading volume jumped by roughly 300% and 3,750% in the last 24 hours to 18.89 ETH ($31,429) and 9.88 ETH ($16,361), respectively.

The increase in sales volume boosted the collection floor prices, with the first collection’s floor price and market capitalization rising to $313 and $14.07 million. Likewise, the second collection saw its floor price and market cap climb to $50 and $2.3 million.

Meanwhile, this marks another instance of a Trump-related event influencing the value of his NFT collections. Earlier this year, the sales volume of the former President Series 1 collection rose 461% after a grand jury indicted him.

President Trump posts mug shot on X

On Aug. 24, former President Trump shared a mug shot of himself on the social media platform X (formerly known as Twitter), marking his return after an absence of over two years.

Source: X

The mug shot had the caption “ELECTION INTERFERENCE! NEVER SURRENDER!”

Meanwhile, his post included a link to his website describing his arrest as a “travesty of justice and ELECTION INTERFERENCE.” He also said he has committed “NO CRIME” and urged his followers to donate to his cause.

The former President, whose account was permanently suspended from X in January 2021 due to concerns about incitement of violence after the U.S. Capitol incident, still commands a devoted following. The social media platform reversed its decision after Elon Musk acquired it last year.

With over 86 million followers, Trump’s account remains one of the platform’s largest. His recent post has garnered an impressive 126 million views and 1 million likes within 11 hours.

Meanwhile, Trump became the first-ever former U.S. president to have a mug shot taken after he was booked at Fulton County Jail in Georgia. According to a CNN report, he secured his $200,000 bond by contributing 10% of the total amount and collaborating with a local Atlanta bonding firm, Foster Bail Bonds LLC.

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Author: Oluwapelumi Adejumo

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