Recently, a surge was observed in PoltiFi tokens and NFTs inspired by former President Donald Trump as he gained ground in crucial electoral battlegrounds. Notably, Maga, the largest among Trump-themed coins, saw a significant rise of 21% in a 24-hour span, reaching a market capitalization of $185 million, according to CoinGecko. Additionally, Doland Tremp, a parody of the former president’s name, surged by almost 40%, while Maga Hat witnessed a 21% expansion.
Interestingly, despite its lower market cap compared to Maga, MAGA showcased higher trading volume in comparison to TRUMP. In contrast, Kamala Horris (KAMA), a coin associated with Vice President Kamala Harris, experienced a decline of over 13% within the same timeframe. On the NFT front, Trump's collections also saw a boost, with his latest digital cards like the "America First Edition" witnessing a 5% increase in floor price, according to NFT Price Floor. Another collection, the "Mugshot Edition," launched in December 2023, saw an uptick of 2.94%.
For those new to the NFT space, the floor price represents the minimum amount at which an NFT from a collection can be bought, acting as a crucial indicator for buyers to gauge the market value and accessibility of the collection. This surge in Trump-related cryptocurrencies coincided with the Republican candidate securing victories in red states like Kentucky, Florida, and Indiana, along with leading in the swing state of Georgia at the time of reporting.