Donald Trump is dropping the bag.
After weeks – with little success – to breathe life into the NFT trading card business for the third timeThe former president appears to be moving around significant crypto holdings.
According to an analysis by blockchain intelligence firm Arkham, Trump began sending ETN he had stored as NFT royalties to Coinbase earlier this month. In the last three weeks, he sold 1,075 ETH for a total of $2.4 million.
Arkham still leaves Trump with $2.2 million in various cryptocurrencies—$1.4 million in ETH, $649,000 worth of WETH, $167,000 worth of Maga Coin, $340 worth of Pepecoin, and $145 worth of JESUS, among other holdings.
Trump's first batch of NFTs looks set for success. The values have appreciated significantly since its launch last December. The second, launched in April, hovers below the original search price of $99. Launching with the third batch of NFTs, however, there is a special “Mugshot Edition” of 100,000. Pieces of the suit Trump wore it when he was arrested in Georgia Trump's NFT fatigue seems to have set in – when he was arrested earlier this fall.
At the time of writing, it is less than half of the collection Buried. Additionally, floor prices on Trump's first two NFT collections He started jumping At the beginning of this month, the “Mugshot Edition” was announced.
Some Twitter users criticized the former “Apprentice” host for not committing to Ethereum and not staying into the new year.
Others joked that Trump might not be switching from crypto, but from Ethereum to rival network Solana.
Trump hasn't commented publicly on the reason for the recent crypto sell-off. But he recently spoke at a campaign rally. He owes more than $100 million. In legal fees, given that he is currently being held as a defendant in four separate criminal cases.
Edited by Ryan Ozawa.
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