Magic Eden announced its ME token in August and today launched it, along with an impressive list of listings on several Tier 1 and Level 2 central exchanges.
ME experienced a spike of 47 percent from a low of $6.04, to an all-time high price on Aevo about 10 minutes before the launch. ME, on the other hand, has seen its market cap plummet to just $581m, down from $1.48bn.
Some users are experiencing technical issues when trying to access the Magic Eden wallet. Magic Eden required users to link other wallets and install the mobile wallet as part of its criteria to be eligible for airdrops.
Magic Eden launched initially as a NFT (Network Trading Technology) trading platform in Solana, and was later implemented on Polygon and Base.
Magic Eden was able to capitalize on the Bitcoin NFT trend in 2024. It processed about 83% of the trading volume for Ordinals and Runes NFTs in the last year.
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