Trump NFTs Skyrocket 2526% Amid Fox News Vs Dominion Suit Climax

The 24-hour trading volume of these Trump NFTs spiked 189%.
Donald Trump launched the digital collection’s Series 2 on Tuesday.

Sales of Trump Digital Trading Cards, the famous Donald Trump-based NFT collection, soared 2526% in the last 24 hours. These digital collectibles, popularly dubbed as Trump NFTs, continue to rise in fame, sparking great hype in the NFT sector in a short span since December 2022.

According to the on-chain data from OpenSea, this Trump NFT collection registered 1,498 sales in the last 24-hour window. In addition to this, these digital collectibles also recorded a spike of over 882% in trading volume. At the time of writing, the volume was 182 ETH.

Despite noting surges in volume and sales, the average floor price dropped 53% in the last 24 hours. At press time, the Trump NFT value stood at 0.186 ETH, worth $387.996.

Trump NFTs — Bullish and Bearish Simultaneously?

Seemingly, two events induced the surge and plunge in the market performance of this NFT collection. First, former US President Donald Trump announced the launch of the new Series 2 of the Trump NFT collection on Tuesday.

The collection’s Series 1 presented 45,000 NFTs on the Polygon blockchain. It included 13,956 owners. Out of those, 65% of the accounts held more than one NFT. The newly launched Series 2 comprises 47,000 collectibles.

Second, the giant American media company Fox News confirmed settling the defamation lawsuit against Dominion, a US voting machine company, with $787.5 million. This Dominion v. Fox News lawsuit update might be an indirect stimulus impacting the NFTs.

Notably, this 2021-originated suit rose due to Fox News falsely accusing Dominion of rigging the 2020 US election in favor of President Joe Biden. The broadcaster’s report on that election was alleged to be biased toward former US President Donald Trump. Hence, this event landed on the suspect list of reasons that trigger the trend of this exclusive NFT collection.

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