Amid a dynamic battle for votes between former United States President Donald Trump and the country’s current leader Joe Biden in the upcoming elections, a stark divide has appeared in the prices of cryptocurrencies tied to either of them.
As it happens, Jeo Boden (BODEN), the meme coin poking fun at the incumbent US President, has soared over 380% in the last 30 days, whereas crypto assets linked to the former President are recording a drop in sales at the same time, according to the information retrieved on April 16.
BODEN price 30-day chart. Source: CoinMarketCap
Notably, BODEN launched in early March 2024 and has since recorded stable increases, in price as well as crypto trader interest, as evident in the example of one Solana (SOL) trader purchasing 12.08 million of the token for the cost of 3,100 SOL, worth $530,000.
Trump NFT sales plummet
Meanwhile, the volume of sales of Trump Digital Trading Cards has recorded a sharp decline since mid-February, diving from 1,503 purchases on February 6 to the current volume of 0, taking into account that the last trade happened 14 days ago, as per OpenSea data.
Trump Digital Trading Cards sales volume all-time chart. Source: OpenSea
Indeed, trading volumes for Trump’s official non-fungible token (NFT) collection have plummeted in value by more than 99% over the course of the past 30 days, signifying a waning interest in the assets related to the former President currently facing a criminal trial in New York.
All things considered, the rise of politically-themed assets in the crypto sector is a logical development as the industry evolves, and it will be interesting to observe the future trajectories of these digital assets as the US presidential elections approach and actually take place.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
