Trump’s Digital Trading Cards Stir Bitcoin Market Amid Declining Entries
Donald Trump Plans to Mint NFTs on Bitcoin Ordinals
Bitcoin Ordinals may soon see a surge, at least if the hype around the Trump Digital Trading Cards collection is to be believed.
Trump Digital Trading Cards on Bitcoin Ordinals
New information suggests that the upcoming Trump Digital Trading Cards collection will include some items minted as Bitcoin Ordinals. The announcement specifies that these entries will be unique, with only one of each kind, and 200 will be minted. This strategic move by Trump NFT aims to leverage the growing popularity of Bitcoin Ordinals entries.
When the NFT collections featuring the former US president emerged, they generated a mixed reaction within the crypto community. According to data from Crypto Slam, the launch of the Trump Digital Trading Cards collection has generated significant hype and led to substantial sales.
Sales Figures for Trump Digital Trading Cards
On the first day, the total sales volume reached approximately $171,000. The following day, sales rose to over $2 million and peaked on December 17, 2022, at over $3.5 million. After reaching this peak, however, the data showed a subsequent decline in hype and sales. The graph shows that the highest recorded sales volume after the surge remained below $400,000. On the last day of the year 2023, total sales were around $291. At the time of writing this article, the sales volume was approximately $4,100.
Current Trends in Bitcoin Ordinals
An examination of the trend in Bitcoin Ordinals showed a decrease in the entry rate in recent days. According to the graph from Dune Analytics, there were occasional surges earlier in the year, but these could not be maintained. Daily entries reached over 400,000 on January 13 and 14 but have remained below this threshold since then. Currently, the number of entries is around 150,000.
Impact of the Trump Digital Cards Collection
With the upcoming release of the Trump Digital Cards collection on Bitcoin Ordinals, an increase in daily entries is likely, at least during this time. This expectation is based on the observed trend at the release of the collection in 2022. Such an increase in activity would also affect transaction fees and keep the Bitcoin network busy for a while.
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Sources: Dune Analytics, Crypto Slam
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