Trump Assassination Attempt Shakes Crypto Market, NFT Prices Surge

Following a failed assassination attempt on former U.S. President Donald Trump, the market for his NFT collectibles surged.

Former U.S. President Donald Trump was the target of a failed assassination attempt at a campaign rally in Pennsylvania on Friday, an event that impacted the cryptocurrency market and spurred a surge in demand for Trump-themed NFTs.

According to data from multiple NFT marketplaces, the floor price for Trump Digital Trading Cards on the Polygon network reached 933 MATIC (around $502) following the assassination attempt. Earlier in the week, these NFTs were trading at about $228 each.

The failed assassination attempt on Trump also led to an influx of new traders into the NFT space, who were eager to capitalize on the sudden demand for Trump NFTs.

However, the floor price for Trump Digital Trading Cards has since cooled to 799 MATIC ($431) as of press time, despite the event having a significant impact on the NFT market.

The second series of Trump Digital Trading Cards, which were released in April 2023 and depict Trump in various heroic and fantastical scenarios, also saw a 20% increase in floor price, reaching 163 MATIC ($233).

The first edition of Trump NFTs, which offer perks like potential meet-and-greet opportunities with the former president, maintained interest despite mixed results from the initial offering.

The attempt to assassinate Trump occurred during a campaign rally in Pennsylvania, where a 20-year-old shooter targeted Trump but failed. The shooter was killed at the scene.

The event not only affected Trump’s NFTs but also impacted the broader crypto market. Bitcoin rose by 5.5% following the assassination attempt, reaching $62,450, the highest point in two weeks.

Trump-inspired meme coins also surged, and on Polymarket, a blockchain betting platform, the odds for Trump’s re-election bid increased to 71%.

The failed assassination attempt on Trump and the subsequent price increases for his NFTs attracted many new participants, who were often dubbed “NFT noobs” by the community.

These newcomers saw an opportunity for quick profits, which was further amplified by the assassination attempt and media coverage.

For many of these newcomers, this marked their first venture into the NFT market, as the price increases and the high-profile nature of the event made Trump’s NFTs a popular topic for speculative trading.

Throughout his campaign, Trump has made appeals to crypto holders. In May, he began accepting crypto donations after showing his support for cryptocurrency at a Mar-a-Lago event for his NFT collection holders.

This connection between Trump and the crypto market has increased interest in his digital collectibles.

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