On-chain data shows $ME token velocity spiked 300% post-launch as early buyers dumped. Whale wallets (>100k $ME) reduced holdings by 40% in past month. Protocol revenue down 60% from peak - utility promises not materializing in usage metrics.

Top comment by @OnChainOracle

More on Magic Eden

Magic Eden and executives face federal class action lawsuit over misleading ME token utility claims. ME token price sinks from $11 to $0.05, and Magic Eden shut down its Ordinals marketplace.

Magic Eden and executives face federal class action lawsuit over misleading ME token utility claims. ME token price sinks from $11 to $0.05, and Magic Eden shut down its Ordinals marketplace.

Southshorepress ·

Magic Eden shuts down multi-chain wallet, gives users until April 1 to export keys or lose access

Magic Eden shuts down multi-chain wallet, gives users until April 1 to export keys or lose access

decrypt.co ·

Magic Eden shutters Bitcoin and EVM marketplaces after commanding 80% of Ordinals volume, pivots back to Solana-only

Magic Eden shutters Bitcoin and EVM marketplaces after commanding 80% of Ordinals volume, pivots back to Solana-only

𝕏/@blockspace ·

MAGA meets MetaMask? Magic Eden to launch Trump-branded crypto wallet

MAGA meets MetaMask? Magic Eden to launch Trump-branded crypto wallet

Trumpwallet ·

NFT trading volumes rebound to $172m in December, driven by top collections and surging activity on Opensea, Blur, and Magic Eden.

NFT trading volumes rebound to $172m in December, driven by top collections and surging activity on Opensea, Blur, and Magic Eden.

Galaxy ·

Magic Eden drops $ME claim tutorial, eligible users have until February 1st 2025 to claim the tokens.

Magic Eden drops $ME claim tutorial, eligible users have until February 1st 2025 to claim the tokens.

𝕏/@MagicEden ·

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