ME (Magic Eden) increased by 19.72% in the past 24 hours

Gate News Bot Report, February 12 — According to CoinMarketCap data, at the time of publication, ME (Magic Eden) is priced at $0.16, up 19.72% in the past 24 hours, with a high of $0.17 and a low of $0.12. The 24-hour trading volume reached $31.2 million. The current market capitalization is approximately $74.3 million, an increase of $12.2 million from yesterday.

ME represents the most powerful cross-chain trading, minting, and wallet protocol suite, adopted by Magic Eden as its official token, representing the largest on-chain user community. The ME community hosts the most influential protocols supporting end-to-end user journeys for NFTs and tokens, deployed across 8 blockchains including Solana, Bitcoin, and Ethereum, with over 3.5 million wallet users, $7 billion in total transaction volume, 70 million transactions, and 500,000 monthly active users. Users can stake ME to unlock rewards for all assets traded across all chains.

Recent Important News about ME:

1️⃣ Official Launch of Ecosystem Token and Application Expansion
The official adoption of ME as Magic Eden’s ecosystem token strengthens its core position in cross-chain NFT and token trading ecosystems. The token has been deployed on major public chains including Solana, Bitcoin, and Ethereum, covering 8 blockchain networks. This multi-chain deployment strategy directly broadens ME’s scope and user reach, laying a foundation for token value capture.

2️⃣ User Base and Trading Activity Support
Over 3.5 million market users, $7 billion in historical trading volume, and 70 million transactions demonstrate significant user engagement and trading depth within the ME ecosystem. The 500,000 monthly active users reflect ongoing ecosystem activity, providing fundamental support for this round of price increase and indicating increased market recognition of ME’s value as a cross-chain protocol.

3️⃣ Staking Incentive Mechanism Design
ME’s staking model allows users to lock tokens to unlock cross-chain trading rewards. This token value capture mechanism enhances holders’ long-term holding motivation and creates positive liquidity constraints through staking rewards, helping to support price stability.

This message is not investment advice; please be aware of market volatility risks.