Nfts
Trump Survives Assassination Attempt: Prices of Trump MAGA Coins and NFTs Soar
Full summary
- Donald Trump-related meme coins saw significant price increases following an assassination attempt on the former president.
- A cryptocurrency trader made an $8 million profit as the MAGA (TRUMP) meme coin soared.
- Trump’s NFT trading cards hit new record prices following the incident.
- The price of Bitcoin also rose, surpassing $60,000.
- Trump’s chances of winning the 2024 election have increased according to prediction markets.
Cryptocurrency markets saw significant moves over the weekend following an assassination attempt on former US President Donald Trump. Several coins and NFTs associated with Trump have seen price increases, while Bitcoin has also seen gains.
On Saturday, July 13, Trump was shot at during a campaign rally in Butler, Pennsylvania.
The bullet reportedly pierced the upper part of his right ear. Secret Service agents quickly evacuated Trump from the scene to a nearby medical facility. Despite the attack, Trump managed to throw a provocative punch at the crowd before leaving.
In the hours following the incident, several Trump-themed cryptocurrencies saw their prices rise significantly. The MAGA token (TRUMP) rose to nearly $8 per coin, up from around $0.50 in late 2023.
Other meme coins like Super Trump (STRUMP) and MAGA Hat also saw double-digit percentage gains.
It appears that a cryptocurrency trader has made a substantial profit from the surge in the price of the MAGA token.
Blockchain data shows that a wallet believed to belong to a well-known trader deposited 1.08 million MAGA tokens worth about $8.85 million onto an exchange. The trader had originally purchased the tokens for about $0.50 each, potentially making a profit of more than $8 million.
A wallet suspected of being #GCR(@GiganticRebirth) deposited the entire 1.08 M $TRUMP($8.85 million) in #BTSExchange 7 hours ago, making a profit of about $8.3 million.
This wallet spent 540,700 $USDT buy 1.08 M $TRUMP at an average price of $0.5 from November 22 to December 4, 2023.
Address:… pic.twitter.com/95ZoPsl9ca
— Lookonchain (@lookonchain) July 15, 2024
Trump’s officially released NFT trading cards have also attracted increased interest. The floor price of original Trump digital trading cards on the Polygon blockchain The price of the Trump NFT token hit an all-time high of 933 MATIC (roughly $502) before settling around 762 MATIC ($410). That’s nearly a doubling in price from just a few days earlier. A second batch of Trump NFTs also increased in value by about 20%.
The cryptocurrency market was also hit. The price of Bitcoin rose from around $59,000 to over $60,000 following the incident. Some analysts attribute this to Trump’s recent pro-crypto comments and the perception that Trump-friendly news could benefit the cryptocurrency industry.
Prediction markets also reacted to the events. Polymarket data Donald Trump’s chances of winning the November 2024 election increased from 60% to 71% in the two days following the assassination attempt. This 18.33% increase suggests that many believe the incident could improve Trump’s electoral prospects.
Winner of the 2024 presidential election: Polymarket
Trump’s team has since confirmed that he is recovering well. Bitcoin Magazine CEO David Bailey said that Trump still plans to attend and speak at the 2024 Bitcoin conference in Nashville.
During his presidency, he was openly critical of Bitcoin and other digital currencies. More recently, he has made more favorable comments about cryptocurrencies, and his campaign began accepting cryptocurrency donations in May 2024.
