Rumors about Donald Trump's indictment make the price of Trump NFTs soar to 0.53 ETH (around $930).
The value of former US President Donald Trump's non-fungible tokens (NFTs) has seen a remarkable surge of over 30% within the past week, overlapping with speculation about his potential indictment and arrest.
OpenSea data reveals that the Trump Digital Trading Cards have reached a floor price of more than 0.53 ETH, up from the previous week's value of 0.33 ETH. During the week, more than 735 Trump NFTs were traded, growing its trading volume to 405 Ether (ETH).
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The increase in NFT prices aligns with news reports about Trump's potential indictment. On March 17th, Fox News reported that the former president might be facing charges in the near future, with the specific allegations to be revealed when he appears in court.
Some news portals claim the charges could be tied to a hush payment made to adult film star Stormy Daniels during the 2016 election campaign.
The New York Times points out that the incident may lead to two charges: violations of campaign finance law and falsification of business records, as the payment, was logged as legal fees to Trump's lawyer.
If found guilty, Trump could be sentenced to a maximum of four years in prison, although experts suggest that proving the case might be challenging.
The New York Times also reports that Trump may face potential charges tied to the January 6th Capitol Hill riot and additional charges related to the illegal possession of classified documents.
If indicted, Trump would be the first US president to face such charges, although he would not be the first to be arrested. 18th United States President Ulysses S. Grant was arrested for speeding in 1872.
In December 2022, Trump unveiled a series of 45,000 digital trading cards, priced at $99 each, depicting himself in a manner akin to collectible baseball cards.
Each collector that purchased these NFTs was automatically entered into a "sweepstakes," where they could win exclusive experiences with Trump, such as a Zoom call, a dinner in Miami, or a cocktail hour at Mar-a-Lago.
As of March 22nd, wallet 0xfb65 holds the largest individual Trump NFT collection, with 1,000 cards, followed by wallet 0x75d2, which holds 362 cards. Neither party has listed any of their NFTs for sale.