Trump NFTs trading volume spike following DeSantis endorsement of Trump’s re-election moves Trump NFTs trading volume spike following DeSantis endorsement of Trump’s re-election moves
The Florida Governor and the former president share similar opposition views on CBDCs.
1 min read
Updated: Jul. 10, 2024 at 12:52 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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 Seriesย 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.
“Itโs 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.
“Itโs 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.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
Vivek Ganapathy Ramaswamy, born August 9, 1985, in Cincinnati, Ohio, comes from a family of Indian Hindu immigrants.