Nifty News: Trump NFTs pump after indictment, Q1 trading volume hits $4.7B and more…
Oddly, following news of a New York Grand Jury voting to indict former president Donald Trump on March 30, the floor price for the officially licensed Trump Digital Trading Cards NFT project pumped.
According to data from OpenSea, NFT traders were seemingly spurred into action by the announcement, with the floor price moving from 0.46 Ether (ETH) or $835 at current prices, to as high as 0.6 ETH ($1090) on the same day.
It is worth noting that when the project launched in December, it offered exclusive one-on-one experiences to certain NFT hodlers, such as private golf sessions, dinners and conversations with Trump.
Given the indictment news, it could potentially have an impact on the forty-fifth's potential to deliver on such experiences.
At the time of writing, the floor price has since dropped back to around the 0.51 range. The price still sits well above the initial mint price of $99 from December.
According to a March 30 report from blockchain analytics platform DappRadar, there was a total of $4.7 billion worth of NFT trading volume in Q1, more than double that of the previous quarter.
The firm pointed to bullish action coming from the Blur marketplace in particular, which took the market by storm in February during its token airdrop farming period.
The $4.7 billion came from a total of 19.4 million NFT sales in Q1, marking an increase of 8.56%, while total volume increased by 147% compared to the $1.9 billion posted in Q4 2022.
The Ethereum network accounted for a whopping $4.1 billion worth of the volume, with second-placed Solana contributing $242 million, while Polygon notably ranked third with $85 million for the quarter.
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