Cryptos and NFTs Around Donald Trump Amidst Ups and Downs

The announcement of the guilty verdict initially caused a dramatic drop in the main Donald Trump-themed cryptocurrencies. Within 20 minutes, the TRUMP coin plummeted by 35%.

Former United States President Donald Trump was convicted by a Manhattan jury on 34 counts related to “hush money,” sparking a ripple effect in the digital asset markets.

Cryptos Around Donald Trump Amidst Ups and Web Link

The announcement of the guilty verdict caused a dramatic drop in the main Donald Trump-themed cryptocurrencies. Within 20 minutes, the TRUMP coin plummeted by 35%, losing $130 million in market capitalization as reported by CoinGecko. Other crypto tokens linked to the former president, STRUMP and BABYTRUMP, also suffered significant losses.

However, the decline of these assets was quickly reversed. The TRUMP coin rapidly regained ground and posted a 6% gain over 24 hours, with its trading volume also increasing. This spectacular rebound can be attributed to the token's resilience and the fact that it now showcases Trump's support for the crypto ecosystem.

Moreover, the analysis of the performance of the TRUMP crypto-asset also reveals an increase in demand from investors. Even the main dynamic indicators of the token have increased. All this shows that the TRUMP crypto token is following a strong upward trend.

An Impact on Trump’s NFTs?

While cryptocurrencies have been destabilized, the NFTs associated with Trump seem to be also affected (but in a different manner). The Trump Digital Trading Cards saw its trading volume drop by 99% before the April trial. Nevertheless, the price of the original edition NFTs in this collection increased by 1.22%, being valued at $319 on the Magic Eden platform.

This resilience of Trump-related NFTs in the face of legal adversity illustrates the unwavering confidence of collectors in the value of these rare assets.

In any case, this major event highlights the close links between the political sphere and the crypto market.