Article reprinted from: DeMan
In the current cryptocurrency market, Trump's name has been a hot topic recently. According to reports, Trump's comments not only caused a shock in the cryptocurrency market, but also directly affected the price of Trump-themed meme coin MAGA (TRUMP), which soared 78%, and its 24-hour trading volume reached $281.8 million, becoming the 13th largest meme coin by market value. The market value of the coin even entered the top 250 of the CoinGecko ranking. Trump's supporters were also excited by his open attitude towards crypto donations during a dinner Q&A.
A video of Trump attending the conference went viral in the crypto community. In the video, he expressed his support for the development of cryptocurrencies and called on supporters to vote for him. This statement not only excited Trump's supporters, but also brought new hope for the future of cryptocurrencies. On May 13, the price of the Meme coin TRUMP continued to rise to $7.51, a 24-hour increase of 22.1%. This fluctuation not only made investors shine, but also made the cryptocurrency market once again the focus of people's heated discussions.
In this volatile market, Trump's every move has attracted much attention. His support has brought new impetus to the cryptocurrency market, and has also sparked heated discussions and thinking about the future trend of the market.
Trump firmly stands for crypto assets, capturing an important vote base that Biden has ignored
At a recent dinner event, Donald Trump successfully appealed to a special group of voters that Joe Biden's administration has failed to reach - cryptocurrency supporters. Although he is not an expert on cryptocurrency policy, Trump still shows significant market sensitivity and sales talent in this area, and his attitude and actions clearly position him as a defender of cryptocurrency.
At the Mar-a-Lago dinner, Trump declared his support for cryptocurrencies, promising that his campaign would accept cryptocurrency donations, a clear shot at the Democratic Party and President Joe Biden's stance. He also explored the topics of central bank digital currencies (CBDCs) and government blockchains, both of which are generally unpopular in the cryptocurrency community. Trump said that despite his reservations about cryptocurrencies, he believes that cryptocurrencies are a form of currency and expressed support for their future.
Meanwhile, the Biden administration continues to closely regulate the cryptocurrency industry. Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has actively promoted legal actions against the industry, while Biden has publicly opposed the House's attempt to repeal cryptocurrency accounting rules. Such rules, according to critics, have restricted the development of the industry. Trump made a sharp attack at the dinner, describing the Democratic Party as the enemy of cryptocurrency and positioning himself as the "only hope" for the industry.
This dinner is not just an ordinary social gathering, but Trump uses his influence and cryptocurrencies and NFTs as a medium to win over voters who have been ignored by the Biden administration. By showing his support and commitment to this special group, Trump not only seeks an advantage in the political competition, but also tries to mobilize a large number of cryptocurrency holders and supporters who may have a significant impact on the election results. In the context of cryptocurrency becoming an increasingly important social and economic phenomenon, this strategy may bring him a considerable advantage in the election.
NFT sales strategy and design content show a high level, secretly helping Trump's election campaign?
Trump Digital Trading Cards has launched three series since its debut at the end of 2022, with cumulative sales of millions of dollars. The first series was launched in December 2022, with a total of 45,000 cards, covering a variety of fantasy images such as superheroes, astronauts and western sheriffs. These NFTs are minted on the Polygon blockchain and sold for $99 each. Once this series was launched, it sold out in about 12 hours, showing strong market appeal.
Subsequently, in April 2023, the Trump team launched the second series, maintaining the same pricing strategy. This batch of NFTs was quickly sold out within 5 hours of its release, with sales reaching $4.6 million. Recently, the third series "Mugshot Edition" was launched, offering 100,000 NFTs, of which 99,000 were sold to the public. Buyers of this series can not only get unique digital cards, but also have the opportunity to qualify for dinner with Trump, showing the unique market positioning of its NFT project.
It is particularly worth mentioning that buying a certain number of NFTs (for example, spending $4,653 to buy 47) can get you the opportunity to attend Trump's dinner. For higher-level supporters, they can buy 100 NFTs by paying nearly $10,000, not only to attend the VIP cocktail party, but also to get limited edition Bitcoin-inscribed digital trading cards and VIP dinner tickets. These tickets allow buyers to dine with Trump at the VIP table, showing the high-end positioning of this marketing strategy.
The images of these NFTs are rich and varied, ranging from police detention photos of Trump to cartoon characters wearing cowboy hats, showing a variety of faces. Despite this, officials emphasize that these digital trading cards have nothing to do with politics and are not involved in any campaign activities, positioning them as collectibles and souvenirs. In the crypto circle, Trump's series of actions not only deepened his connection with the crypto world, but also caused the value of related MEME coins to soar, showing his influence in this field and the sensitive reaction of the market.
Through these initiatives, Trump has not only left a deep mark on the cryptocurrency market, but also demonstrated his acceptance and use of emerging technologies. Regardless of how the market changes, Trump's NFT project is driving the heat in the digital asset field, while triggering widespread discussion in the market about the possible continued development of his series.
The high degree of integration between meme assets and politics has become a general trend, and Trump is just the initiator of the trend
With Trump’s active participation and clear stance, both the cryptocurrency market and the performance of related meme coins have shown significant dynamics. According to CoinMarketCap data, the Trump-related meme coin MAGA (TRUMP) has experienced a significant increase in value in a short period of time, which not only reflects the immediate reaction of the market, but also demonstrates Trump’s increasing influence in this field. .
Other related digital assets also reflected similar market reactions. For example, the Doland Tremp (TREMP) coin rose from $0.38 to $0.652, recording a 69.85% increase. Even the Biden-themed meme coin Boden experienced a 25% increase under the influence of Trump’s comments.
In the NFT field, Trump digital trading cards have performed particularly well. According to data from NFT Floor, the floor price of these trading cards minted on Polygon has surged from $211.56 on May 9 to $465.7, an increase of more than 120%. During the same period, its trading volume increased from 13,658 MATIC to 65,749 MATIC, an increase of 475.46%; the number of sales also increased from 65 to 138, an increase of 213.64%.
At the intersection of politics and financial technology, Trump's cryptocurrency strategy has clearly won him support from certain voters while also injecting new vitality into the crypto market, demonstrating how to use cryptocurrency not just as an asset but as a tool to expand political influence and attract young votes.
In addition, this incident also highlights the importance of political power in the cryptocurrency industry. As more and more politicians like Trump directly participate in cryptocurrency issues, we can foresee that policies and market norms will be adjusted and optimized in the future. The participation of politicians may not only promote the development of regulations, but also bring new opportunities for the popularity and acceptance of cryptocurrencies.
Although the market has reacted positively to Trump's remarks and actions in the short term, it also reminds investors and market participants that they need to be sensitive to political dynamics and be prepared to deal with market fluctuations that may be caused by them. Although Trump's cryptocurrency strategy has brought direct support to his campaign, it has also shown market participants the potential uncertainties and risks in the cryptocurrency field.
In short, Trump's behavior and the reaction of the cryptocurrency market not only add a new dimension to his political campaign, but also provide new perspectives and discussion points for the future development of the cryptocurrency industry. This process is full of challenges, but also full of opportunities. For market participants who are willing to adapt and learn from political and economic events, this is an important growth opportunity.
