The NFT Market Rebounds as Donald Trump's Reelection Spurs Renewed Interest from Whales

The global non-fungible token market finally seems to be rebounding after several months of downturn, with renewed interest from the whales driving momentum

The global non-fungible token market finally seems to be rebounding after several months of downturn, with renewed interest from the whales driving momentum back into the space.

Also Read: Top Non-Fungible Tokens (NFTs) to Buy This Week

The NFT market, which suffered a prolonged downtrend, began climbing earlier this month after Donald Trump was re-elected as United States President.

Non-fungible tokens are a type of digital asset that is unique and cannot be replicated, making them ideal for use in representing ownership of digital items such as art, music, and videos.

This week, several NFT collections have seen a surge in trading activity, with some collections amassing hundreds of thousands of dollars in sales. Here are the top-selling NFTs this week, according to data from CoinGecko:

CryptoPunks, a non-fungible token collection featuring a fixed supply of 10,000 pixilated NFTs previously created by Larva Labs but now managed by the digital asset firm Yuga Labs, is this week’s most traded NFT collection in the NFT market. In the past 24 hours, the NFT collection has amassed a trading sales volume of 1720 ETH. It has a market cap of 1.05 billion and a floor price of $105,456.

Bored Ape Yacht Club, another non-fungible token collection from the digital asset firm Yuga Labs that features a limited edition of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s second most-traded NFT collection in the NFT market. In the past 24 hours, the NFT collection has recorded a trading sales volume of 267ETH. It has a market capitalization of $359 million and a floor price of $35,992.

Pudgy Penguins, a non-fungible token collection from the digital asset firm and a toy brand Igloo that features a limited supply of 8,888 NFTs created on the Ethereum blockchain network, is this week’s third most-traded NFT collection in the NFT market. In the past 24 hours, the Pudgy Penguins NFT collection has recorded a trading sales volume of 254 ETH. It has a market cap of $268 million and a floor price of $30,210.

Azuki, a non-fungible token collection from the digital asset incubation studio Chiru Labs featuring a fixed set of 10,000 anime-themed NFTs created on the Ethereum blockchain network, is this week’s fourth most-traded NFT collection in the NFT market. In the past 24 hours, the NFT collection has attracted a trading sales volume of 223ETH. The Azuki NFT has a market capitalization of $142 million and a floor price of $14,271.

Mad Lads, a non-fungible token collection from the Solana Infrastructure Development project Backpack that features a limited set of 10,000 NFTs hosted on the Solana blockchain network, is this week’s fifth most-traded NFT collection in the NFT market. In the past 24 hours, the NFT collection has recorded a trading sales volume of 2,955 SOL. It has a market capitalization of $86 million and a floor price of $8,720.

Bitcoin Puppets, a non-fungible token collection that features a limited edition of 10,001 unique profile pictures hand-drawn in MS Paint by a 12-year-old artist, is this week’s sixth most-traded NFT collection in the NFT market. In the past 24 hours, the NFT collection has a trading volume of 7.06 BTC. Bitcoin Puppets NFT Collection has a market capitalization of $172 million and a floor price of $17,269.

ZereBorn, a non-fungible token collection that features a limited supply of 5,500 NFTs hosted on the Solana blockchain network, is this week’s seventh most-traded NFT collection in the NFT market. In the past 24 hours, the ZereBorn NFT collection has attracted a trading sales volume of 2,610 SOL. It has a market capitalization of $3.6 million and a floor price of 664 SOL.

Milady Maker, a non-fungible token collection from the digital asset firm Remilia that features a fixed edition of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s eighth most-traded NFT collection in the global NFT market. In the past 24 hours, the Milady Maker NFT collection has garnered a trading sales volume of 176 ETH. It has a market capitalization of $160 million and a floor