• Manhattan Grand Jury officially indicted Donald Trump on over 30 counts of business fraud, including the hush money payment to Stormy Daniels.
• Trump Cards NFT floor price soared by 22% to $1,070 following the news, making them worth ten times more than their original price of $99.
• Trump Card NFT collection has a market cap of $48 million and is stored on Polygon (MATIC).
Grand Jury Indicts Donald Trump
The Manhattan Grand Jury has officially indicted ex-US President Donald Trump on over 30 counts of business fraud, including the hush money payment to adult film star Stormy Daniels. While Trump denies all allegations, his legal troubles sparked activity in the Non-Fungible Token (NFT) market.
Trump Cards Soar in Price
Following the news of the indictment, the price of Trump Cards NFT floor rose by 22%, reaching a value of $1,070 – ten times more than its initial release at $99. The full details of the NY indictment are yet to be disclosed as it was done under seal. Additionally, an unnamed witness gave a speech which allegedly provided significant evidence that Donald bribed Stormy Daniels to stay silent.
Donald’s Fans Push His NFTs Higher
Trump’s famed Trump Cards NFT collection tripled in trading volume since news broke out about his indictment, with 105 ETH traded – equivalent to $189,000 – in a single day. In addition to this increase in trading volume and value, Polygon (MATIC) also hosts a remade version of the same NFT collection which includes sweepstakes related to Donald himself.
This unprecedented legal action is likely to galvanize critics and embolden supporters alike. If found guilty for falsifying business records with intent to conceal a crime these charges would constitute felony according to law experts. Despite this potential outcome many see this as an excellent trading opportunity due to increased popularity and demand for these ‚relic‘ tokens associated with Donald himself.
It remains uncertain what will happen next but one thing is certain: if convicted these charges could have serious implications for his career and legacy moving forward. Furthermore it serves as another example how rapidly Non-Fungible Tokens can fluctuate in value depending on external events or figures associated with them