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

cyptouser4 months agoCryptocurrencies News64

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.

Author

Oluwapelumi Adejumo

Journalist at CyptoRanking

Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

@hardeyjumoh LinkedIn Email Oluwapelumi Editor

Liam 'Akiba' Wright

Senior Editor at CyptoRanking

Also known as "Akiba," Liam is a reporter, editor and podcast producer at CyptoRanking. He believes that decentralized technology has the potential to make widespread positive change.

@akibablade LinkedIn Email Editor Latest Report

Bitcoin ETFs: An in-depth look at the first 5 days of trading

We explore the first 5 days of Bitcoin ETF trading, analyzing their inflows and implications on the broader market.

Andjela Radmilac · 2 days ago
The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Genesis forfeits BitLicense, pays $8 million to settle NYDFS lawsuit

The New York State Department of Financial Services (NYDFS) announced a settlement with Genesis Glob...

Bitcoin's latest rally driven by ‘huge accumulation’

Bitcoin’s (BTC) latest rally was driven by “huge accumulation” as investor appetite rema...

EigenLayer sees over 12,000 queued withdrawals — How far will TVL fall?

EigenLayer sees over 12,000 queued withdrawals — How far will TVL fall?

55966e89˃EigenLayer — the largest Ethereum restaking protocol — has received over 12,412 withdrawal...

EigenLayer mainnet launch allows restakers to delegate stake, aims to extend Ethereum security

EigenLayer has officially launched on the mainnet, marking a milestone for the restaking collective...

Solana SOL token value grows by more than 330% YTD to 14-month high

Solana’s SOL token is the best-performing top 20 digital asset by market capitalization in the...

Over $6B worth of BTC moved by fifth-richest Bitcoin whale

Over $6B worth of BTC moved by fifth-richest Bitcoin whale

25cc9d4a˃The fifth-largest Bitcoin (BTC) holding address — also dubbed “37X” — has moved over $6 bil...