Back to the list

Trump NFTs trading volume spike following DeSantis endorsement of Trump's re-election moves

source-logo  cryptoslate.com 23 January 2024 07:15, UTC

The trading volume of former U.S. President Donald Trump’s NFT collection surged by 250% following the suspension of Florida Governor Ron DeSantis’ presidential campaign in favor of supporting Trump’s re-election bid.

Data from CryptoSlam reveals a remarkable 248% increase in the trading volume of Trump’s Series 1 collection over the last 24 hours, reaching nearly $90,000. In contrast, trading activities for his Series 2 collection and MugShot edition experienced significant declines during the same period, settling at $1406 and $414, respectively.

CoinGecko data indicates that the floor price for all these collections experienced an average 4% decrease during the reporting period.

DeSantis endorses Trump

In a Jan. 21 video shared on X (formerly Twitter), DeSantis, a vocal advocate for the crypto industry, announced that he was suspending his bid for office in support of Trump’s candidacy.

“It’s clear to me that a majority of Republican primary voters want to give Donald Trump another chance,” DeSantis conceded.

Throughout his campaign, DeSantis strongly supported Bitcoin rights and expressed concerns about U.S. regulatory clampdown on the cryptocurrency.

The Florida Governor also strongly opposes the Central Bank Digital Currency (CBDC) idea. He promised to “nix” the development of such currencies and spearheaded Florida’s ban on the national digital currency.

DeSantis’s view on CBDC mirrors that of Trump, who recently pledged to oppose the introduction of such currencies.

Ryan Selkis, the CEO of crypto intelligence platform Messari, emphasized the importance of rallying support for Trump and surrounding him with individuals like DeSantis to enable the crypto industry’s future success in the U.S.

“It’s time to make 45 -> 47 and surround Trump with people like Ron DeSantis and Vivek Ramaswamy, rather than bought and paid for neocons like Nikki Haley. That + a GOP Senate are what we need for crypto to have a bright future in the U.S,” Selkis remarked.