The value of Donald Trump’s cryptocurrency tokens has fallen sharply

A week ago, we wrote about the rapid growth in the popularity of Donald Trump’s NFTs, whose value increased sixfold in just three days of trading.

By now, the hype has passed and the situation has changed radically. According to the OpenSea platform, the price of non-fungible tokens with the image of the 45th US president has dropped by 72% in recent days. Currently, a collectible NFT with Trump’s image can be bought for only 0.23 Ethereum, which is approximately $ 280.

The changes affected both the price and the trading volume. According to CryptoSlam’s analysis, this figure reached $ 3.5 million on December 17. Two days later, the trading volume no longer exceeded $ 836 thousand. The number of sales has also dropped significantly: a week ago, more than 6,000 NFTs were sold, and on December 23, only 260.

Nevertheless, the NFT’s profitability is at least 182%, which is already a good result. Especially considering how ambiguously this collection was received in the crypto community. Many people openly joked about the images, which look more like comic book images. But there were also those who admired the politician’s desire to participate in the promotion of Web3.