A meme coin imitating President Joe Biden has surged by approximately 271% within the past month. Conversely, cryptocurrencies associated with former President Donald Trump, who is set to appear in court for criminal proceedings on April 15, are experiencing a significant decrease in value.
In the past month, the sales figure for non-fungible tokens (NFTs) traded on Ethereum reached an impressive total of $536 million, as reported by data provider CryptoSlam.
Despite the buzz around Trump’s NFTs earlier, the excitement seems to have faded now. This is likely due to the ongoing criminal trial against the former GOP candidate in New York, who stands accused of falsifying business records.
Drastic drop
The trading volume for Trump’s NFT collection on the official marketplace dropped by over 99% within the past thirty days.
Based on OpenSea’s data from the past 30 days, there has been a significant decrease in trading activity for the 45,000 Trump Digital Trading Cards with altered images of the former Republican politician, who has faced indictments on four occasions.
In the last week, there have been no transactions for the NFTs that were originally sold for $99 each towards the end of 2022.
NFTs aren’t the only Trump-themed digital assets that are floundering.
In the past day, a meme cryptocurrency linked to the phrase “Make America Great Again” experienced a decline of over 4%.
MAGA’s price took a dip in both the recent seven-day and thirty-day periods. As per CoinGecko’s data, there was a significant decrease of approximately 25% in the last thirty days and around 21% over the past seven days.
During the last two weeks, there was a favorable price variation, resulting in approximately an 18% increase in worth.
Simultaneously, Trump’s conservative-slanted media group, Trump Media & Technology Group Corp., which is the parent company, experienced a significant loss of around $4.5 billion in market value since its public debut on March 26.
‘Boden’ gets a boost
The value of the MAGA coin has been declining, while a meme coin poking fun at President Joe Biden has experienced notable growth.
According to information from CoinGecko, the cryptocurrency referred to as Jeo Boden (BODEN) has increased by 24.4% within the past 24 hours and is now being traded at a price of $0.6792.
The coin’s value is also up nearly 63% over two weeks and almost 271% over the last 30 days.
Currently, BODEN‘s market value sits at approximately $475 million, while its trading volume reached around $25.25 million over the past day.
It is not affiliated with the White House or the Biden campaign.
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2024-04-15 04:09