Although the minimum requirement for the Solana Notes was met, the $250,000 threshold was not met because over the past two weeks, almost the entirety of the auction, the crypto market plunged massively. , with the values of various currencies falling by 20, 30 or even 40%, as was the case with Solana (SOL.)
Due to lack of interest in Trump’s items, an inflated opening bid amount, and a plummeting market, the “Head of State Collection” – as Trump has dubbed it – seems s sold for around $170,000, $80,000 less than expected. opening offer. CNN reached out to Trump’s spokesperson for comment on the auction.
The lower price and handful of offers is an example of the fluctuating world of cryptocurrency, which can be extremely lucrative but is ultimately at the mercy of an unregulated market. Bitcoin, perhaps the most recognized cryptocurrency, fell more than 20% in this month’s crypto crash, signaling that even established forms of money are prone to volatility.
Numerous CNN inquiries to Trump’s office asking for clarification on the exact serving went unanswered.
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