Coin overview
ME
Ended--
Last price (USDT)
2.41M
24h total (USDT)
3.06M
Total vol (USDT)
2024-11-22 12:00:00 ~ 2024-12-10 13:30:00
Trading time (UTC+0)
2024-12-10 15:00:00 ~ 2024-12-10 19:00:00
Delivery time (UTC+0)
Total supply1.00B
Resources
Introduction
$ME is committed to supporting the MagicEden-led cross-chain ecosystem super dapp strategy, mainly focusing on acquiring more users from different public blockchain or other infrastructure, and allowing users to realize one-stop seamless trading of multi-chain assets.
Magic Eden Ignites Over 11%, But Is It Built to Last?
Magic Eden has climbed over 11% and is holding steady at $0.96. ME’s daily trading volume has surged by more than 313%. Recent recovery attempts have failed due to dominant bearish pressure. The crypto market cap has reached $2.57 trillion, with assets still trading under fear. Meanwhile, Magic Eden (ME) defied the trend, surging by over 11.16%. The asset traded at around a low of $0.8585. The rise of the bulls sent the price to a high of $1.01. The asset has tested and broken the crucial resistance zones to shift the momentum into bullish. At the time of writing, Magic Eden traded within the $0.9612 range, with its market cap reaching $128 million. Notably, the asset’s daily trading volume has surged by over 313% to $75.17 million. Magic Eden’s price action of the past week and month is moderate. The bull bear feud lagged the momentum. Gradually, the asset managed to climb and trade at the current level. Will Magic Eden Sustain Its Uptrend? The active bullish momentum of Magic Eden could push the price toward $1. The formed golden cross triggers the asset to ignite a sturdy rally, mounting up to the $1.58 level. On the downside, the awakened bears might trigger the price to drop to the $0.95 range. A deeper downside correction could pull back the Magic Eden price toward $0.8013 or even lower. ME chart (Source: TradingView ) ME’s Moving Average Convergence Divergence (MACD) line and signal line have crossed over the zero line. This indicates a bullish trend. Moreover, the Chaikin Money Flow (CMF) indicator found at -0.02 suggests that the money is flowing out of the asset. In addition, the Bull-Bear Power (BBP) reading of 0.144 signals a modest presence of bulls in the market. Magic Eden’s daily relative strength index (RSI) at 68.06 infers it is approaching the overbought territory. Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing. Highlighted Crypto News Bearish Cloud Over Ethereum, Can It Break Through?
JASMY Price Rises 14%, Can Bulls Maintain the Upward Trend?
JASMY’s price surged over 14% in the last 24 hours, suggesting bullishness. JasmyCoin crypto price is trying to break out above the 50-day EMA level. JasmyCoin price analysis shows that buyers are returning, and a significant breakout above the 50-day ($0.01447) EMA level is likely. JASMY’s price rose 14% in the last 24 hours and 22% over the last week which reversed the short-term trend in the upward direction. However, the continuation of this bullish momentum depends on whether JASMY’s price can break above the levels of $0.01447 and $0.02144. JasmyCoin price has been in bearish momentum for a prolonged time trading below the 50-day and 200-day EMAs suggesting long-term bearishness. Moreover, in the last few days, the altcoin has performed well and showed a decent bounce. Therefore, bulls are also active and it will be not easy for bears to pull the price further down. According to CMC data, at the time of writing, JASMY is trading at $0.01260 with an intraday increase of 14%. The daily trading volume is decreased by 2% and the volume to market cap is 18.42% suggesting good liquidity. Will JasmyCoin (JASMY) Sustain Price Surge? Source: Tradingview The MACD curve is heading in the upward direction with a green histogram. Furthermore, it also formed a bullish crossover, indicating breakout is possible. The RSI stands at 53 also heading towards the overbought zone suggesting positive momentum. The possibility of the breakout above the $0.01447 and $0.02144 levels will increase when bulls succeed in maintaining the bullish momentum. Meanwhile, JASMY’s price will need to attract more buyers to start a fresh bullish rally over the technical charts. The current situation requires investors to be patient and look for a clear breakout above $0.01447 and $0.02144 levels before making any moves. Investors should avoid the fear of missing out to minimize losses. Highlighted Crypto News Today: Magic Eden Ignites Over 11%, But Is It Built to Last?
April 10th Market Key Insights, How Much Did You Miss?
Featured News 1.Data: The Previous 4 Violent Rebounds of US Stocks Were All "Last Gasp" Moments in Bear Market Crises 2.Some Solana Ecosystem Meme Coins Rebound, VINE Surges by 44.6% in 24 Hours 3.sUSD Continues to Depreciate, Currently Priced at $0.85122 4.OpenAI Countersues Musk, Accusing Him of Using Media Attacks and Other Means to Disrupt Company Operations 5.Binance Wallet's Current TGE Event Adds New Rule: Binance Accounts Must Hold Assets Equivalent to or Greater Than $100 for 7 Consecutive Days Prior to TGE Start Date Trending Topics Source: Overheard on CT (tg: @overheardonct), Kaito FARTCOIN: FARTCOIN has seen a significant surge in popularity and price, drawing comparisons to past meme coin rallies (e.g., PEPE). Despite not yet being listed on major exchanges, the coin has achieved notable trading volume and market attention, with many predicting further growth. The rise of FARTCOIN is attributed to its strong "playability" and high community involvement, coupled with recent market events (such as the 90-day tariff suspension). Discussions highlight its astounding price increase, with some traders reporting significant profits and believing the coin is poised to reach new highs. ME: Magic Eden has acquired Slingshot Crypto, sparking widespread discussion on Twitter. This acquisition is seen as a strategic expansion into the realm of crypto trading, allowing users to trade tokens across multiple blockchains without the need for cross-chain bridges. This positions Magic Eden as a strong competitor to centralized exchanges, with Slingshot's technology bringing a seamless trading experience. The announcement has generated enthusiastic responses, with many optimistic about Magic Eden's potential to dominate both the NFT and token trading markets. PEPE: Today, the discussion on Twitter about PEPE has focused on its significant price movement—rising 10% in the past 6 hours, triggering comparisons to other meme coins like Fartcoin and MOG. The community appreciates PEPE's ability to maintain price stability during market fluctuations, contrasting it with mainstream cryptocurrencies like BTC and ETH. Furthermore, PEPE frequently appears in various meme art pieces and is closely tied to internet culture, which continues to boost its popularity. The discussion also delves into PEPE's historical performance and future growth potential, with some users expressing regret about not investing early on. Featured Articles 1. "Trump's 'Pump Tweet' Causes Stock Market to Soar by $2 Trillion: Is the Tariff Delay a Market Bottom or a 'Whale's' Retreat?" Just the day before, Trump had dropped a bombshell by imposing a 104% tariff on China, intensifying the global stock market's decline. Today, he tweeted another major announcement: due to China's unfair trade practices, the U.S. will impose a 125% tariff on Chinese imports, effective immediately. On the other hand, for over 75 countries not taking retaliatory measures, he has set a 90-day tariff suspension period, currently imposing only a 10% equivalent tariff, aimed at encouraging trade negotiations. 2. "'Antique Stablecoin' Depegs Overnight, Evaporating $18 Million: Can Synthetix's sUSD Still Bottom Out?" The crypto world is ever-changing, and the word "stable" in stablecoins often faces many challenges. On April 10, the stablecoin sUSD in the Synthetix ecosystem experienced a significant peg loss, with the lowest price dropping to $0.834, now trading at $0.860, deviating approximately 14% from its $1 anchor. This rapid fluctuation quickly sparked community discussions, with many fearing it is a signal of a new stablecoin crisis. On-chain Data Weekly On-chain Fund Flow for April 10
Magic Eden acquires crypto trading app Slingshot to compete with centralized exchanges
Magic Eden, the NFT marketplace that was valued at $1.6 billion in 2022, has made its first major acquisition by purchasing Slingshot Finance, a mobile-first onchain crypto trading app. The move signals Magic Eden's push beyond NFTs and into broader token trading, aiming to compete directly with centralized exchanges. "The Slingshot acquisition is Magic Eden's big bet into the token trading space," Jack Lu, co-founder and CEO of Magic Eden, told The Block. "Slingshot's chain abstraction technology lets people trade millions of tokens on 10+ chains without needing to know how blockchains work (e.g. bridging, gas tokens, approvals). These chains include Solana, Ethereum, Bitcoin (coming soon) and many others. We believe this technology represents the future of all crypto trading and will allow Magic Eden to compete directly with centralized exchanges." The acquisition comes at a time when the NFT sector is facing slumping trading volumes and waning attention. But Lu said Magic Eden remains "incredibly bullish" on NFTs, noting it generated $75 million in revenue last year. "To us, NFTs are still in their early innings, and like any emerging technology, the path to mainstream adoption includes waves of experimentation and refinement," Lu said. "They are still a new digital primitive that will power the future of gaming, art, collectibles, etc." Lu said the next phase of NFT adoption will be driven by usefulness, not hype. "What the market is really waiting for is a catalyst: a breakout app, a beloved brand, or a frictionless product experience that onboards the next million users," he said. Still, Magic Eden is broadening its NFT focus to include token trading across the wider crypto market. While the platform already offers basic cross-chain token swaps, Slingshot adds extended trading functionality. "Slingshot is a pureplay 'all chains' token trading app, it abstracts away the concept of chains, has much more powerful trading functionality and supports a much wider range of tokens," Lu said. With the integration, Magic Eden will now support trading in over 5 million tokens. Magic Eden launched its own token last December. It is currently trading at around $0.82, up over 2% in the past 24 hours, according to The Block's ME price page. Inside the Magic Eden–Slingshot deal While terms of the deal were not disclosed, it appears to be sizable. Founded in 2020, Slingshot has nearly 1 million users and has raised $33 million in funding to date from backers including Coinbase Ventures, Ribbit Capital and Electric Capital. "We raised $3 million in our seed round, $27.5 million in our Series A round (including an extension round), and $2.5 million in a recent insider round," Clinton Bembry, Slingshot's co-founder and CEO, told The Block. The total amount had not been previously reported. Magic Eden, meanwhile, has raised $147 million in total funding to date from investors such as Paradigm, Sequoia Capital, Coinbase Ventures and Electric Capital. Lu confirmed the acquisition has been fully completed, with no pending approvals, after discussions began with the Slingshot team late last year. "It's our first real acquisition. We did a small acquihire before, but nothing on this scale," he said, declining to provide details of the acquihire. All members of the Slingshot team will be joining Magic Eden. Bembry declined to specify the exact size of the team, citing competitive reasons, but said it falls between 11 and 50 people. Magic Eden currently employs just over 150 full-time staff and has no immediate plans to expand significantly, Lu said. Both companies worked directly on the deal, with legal support from Cooley and Cahill, according to Lu. Notably, the Slingshot acquisition marks the second exit for Bembry, whose earlier crypto startup, Astro Wallet, was acquired by Coinbase in 2019. The Funding newsletter: Stay updated on the latest crypto funding, deals and trends with my free bimonthly newsletter, The Funding. Sign up here !
Social Media New Era: How X.ME is Reshaping Authentic Experience with AI+Web3
Source: X.ME X.ME Drives the Social Revolution, Building a New Social Ecosystem X.ME is an innovative social media platform that aims to challenge the trust crisis in traditional social media by integrating AI technology. Combining the advantages of Web2 and Web3, X.ME provides users with a genuine social network and emotionally rich content experience. While maintaining the ability to deliver "timely," "authentic," and "comprehensive" content services, X.ME allows users to earn continuous rewards through social activities, thereby establishing a new social consensus. I. Authentic and Engaging Social Network 1) Authentic Identity: Your Identity is Your Power In an internet environment plagued by fake accounts and identity fraud, X.ME emphasizes the authenticity of individuals. The platform utilizes multimodal AI authentication (such as biometric recognition, behavioral analysis, and cross-platform data verification) to identify users' social footprints on platforms like X and Instagram, ensuring that each account is tied to a real individual, making digital identities verifiable. Authentic identity authentication makes social interactions less high-risk, as users no longer need to worry about intentionally constructed social traps and robots disguised as friends. Authentic identity is also the foundation of X.ME's social value, and users with authentic identities will continue to receive incentives. 2) Authentic Connections: Rebuilding Meaningful Social Networks By leveraging AI smart recommendations and precise data analysis, X.ME's SocialGraph 3.0 engine processes 5PB of social data daily, helping users efficiently match with like-minded groups and enhance the quality and stickiness of social relationships. The platform connects users based on scenarios and values to promote deep interaction. In the short term, users engage in conversations and exploration, while in the long term, they gather like-minded peers. In the future, X.ME will expand social boundaries by combining real-time language interaction, content libraries, and AI technology to provide users worldwide with a personalized experience. With high efficiency, X.ME will bring together global enthusiasts in impromptu scenarios, enabling the collision of passion and interests. Additionally, the platform will leverage AR/VR technology to create virtual social scenes such as themed social interactions, delivering a completely new experience. 3) Authentic Value: From "Content Recommendation" to "Content Narration" with Generative AI On the X.ME platform, Web2 content is transformed into an interactive experience through generative AI, greatly expanding the entertainment and fun space of content. X.ME's content narration is based on authentic content, providing users with a more profound experience through generative AI technology. Through virtual influencers and interactive storytelling that features a humorous style, X.ME bridges the interaction between the audience and the content through emotional resonance. By giving data "roles" characteristics, content presentation becomes more attractive and interactive. In this way, AI becomes not just a conveyor of information but an active participant in content narration. This role-based content delivery method has significantly increased user engagement and emotional involvement. For example, in an interactive travel journal video, a virtual influencer provided not only basic information about the travel destination but also sparked the audience's interest in exploration through humorous narration and dynamic performance. Through interaction, the audience not only obtained information but also received a personalized experience within entertainment. AI adjusts content delivery based on the audience's feedback, creating a "one-to-one" personalized effect, making each user's experience unique. Through this innovative content model, users are not just receivers of content but also part of the creation, further enhancing the attractiveness and engagement of the content. X.ME's content delivery based on AI-generated "roles" not only enhances the immersion of the content but also allows the content to deeply connect with the audience on multiple emotional levels. 4) Real Incentives: Bringing Value into Reality On the X.ME platform, the incentive mechanism provides unprecedented value distribution for content creators and consumers. Unlike Web2 platforms that rely on likes and shares, X.ME uses an attention economy model to allow creators and consumers to earn points based on their interaction value. These points are not only used for platform consumption but can also be redeemed for rewards in the future. This means that users who enjoy a consistently high-quality social life will receive high-value returns. II. Web3 Chief Personal Information Officer Web3 media has always faced the chronic issues of information opacity, content manipulation, and a lack of trust mechanisms, making it difficult for users to access accurate information. The highly fragmented distribution of information is a pervasive shadow in the Web3 domain. At the information level of Web3, X.ME will strive to become a globally leading Web3 media platform that serves users. Through real-time data monitoring on multiple platforms, as well as a big data model based on AI to provide the most comprehensive and accurate real-time web3 news information. It will offer a web3 tutorial assistant based on personal interests, helping web3 users at different stages to gain the knowledge they seek to better enter the web3 world. It will also provide a 24-hour web3 virtual assistant based on personal interests, an AI-based personal web3 finance assistant, a web3 investment square, and other functions based on personal interests. Ultimately, it will achieve a one-stop solution for web3. Conclusion: X.ME has redefined social media platforms and created unprecedented opportunities. In an era of information explosion and the increasing importance of the virtual world, X.ME combines real identity verification, personalized social experiences, and Web3 media innovation to provide a transparent, fair, and engaging content ecosystem. Through a content distribution-based reward mechanism, X.ME empowers users with real value, ultimately achieving a solid triangle of "timely," "real," and "comprehensive." This article is contributed and does not represent the views of BlockBeats.
Base vs Solana vs MegaETH, Who Is the Fastest Chain?
Original Author: @ShivanshuMadan, crypto writer Original Translation: zhouzhou, BlockBeats Editor's Note: Base, MegaETH, and Solana provide different forms of pre-confirmation through Flashblocks, Miniblocks, and Shreds to enhance user experience. Base relies on TEE for pre-confirming transactions every 200ms; MegaETH uses Miniblocks to confirm every 10ms; Solana completes transaction confirmation within 400ms through Shreds. These mechanisms optimize interaction speed but trust relies on their respective sequencers or validators. L2 lacks a consensus mechanism, but fixed block times still aid in the execution of mechanisms like EIP1559 and decentralized sequencing. In the future, sub-second pre-confirmation will become an industry standard, and guarding against collusion will be crucial. Below is the original content (slightly rephrased for better readability): Base vs. MegaETH vs. Solana, Flashblocks vs. Miniblocks vs. Shreds, who's the fastest? Who's the most secure? Who will prevail? Flashblocks, Miniblocks, and Shreds are each blockchain producer's form of "pre-confirmation." Pre-confirmation is the "trusted assurance" users receive to ensure their transactions will be included in the next block. This optimizes user experience but adds a temporary trust assumption on the block producer. BASE FLASHBLOCKS Base's block time currently stands at 2 seconds. Every 2 seconds, all tools (block explorers, RPC, wallets, etc.) fetch the block, update their database, and sync the state to the user. This state is not final (immutable) but is "pre-confirmed" by the sequencer. However, a 2-second update speed does not provide an ideal user experience, as users are accustomed to faster internet response times. Flashblocks directly address this issue by shortening the pre-confirmation time to 200 milliseconds: ·The Sorter runs in a trusted execution environment and sorts transactions based on priority fees. ·Every 200 milliseconds, the Sorter creates a sub-block (Flashblock) and broadcasts it to L2 nodes. ·L2 nodes verify the TEE signature, issue pre-acknowledgments to users, and apply the Flashblock to local state. ·After 2 seconds, the Sorter compiles a full block, generates a Merkleized summary, and submits it to L1. ·Upon confirmation by L1, nodes update the hard state, eventually finalizing the block. While a full block still takes 2 seconds, users can see updated state within 200 milliseconds, greatly enhancing the user experience. MEGAETH MINIBLOCKS MegaETH plans to set the block time to 1 second. However, they will adopt a pre-acknowledgment strategy similar to Flashblocks to optimize user experience. The ME Sorter will continuously provide transaction confirmations (in no specific order) during the block-building process. ME plans to release pre-acknowledgments every 10 milliseconds in the form of "Miniblocks." Similar to Flashblocks, Miniblocks significantly enhance user experience without increasing the trust assumptions beyond the 1-second block time. (It is noteworthy that while Flashblocks rely on TEE for correct execution of priority sorting, Miniblocks do not require this trust assumption.) SOLANA SHREDS Solana is a pioneer in high-quality user experience and high-speed chains. Solana's standard block time is 400 milliseconds. During block generation, Solana's leader (block producer) splits the block into smaller "Shreds," submits them to the Proof of History (POH), and propagates them throughout the network. Upon receiving the Shred, other validators can start replicating transactions and immediately send transaction acknowledgments upon validating the Shred (in less than 400 milliseconds). Now there are two questions worth exploring: 1. How secure are these "preconsents" in different scenarios? 2. In the Rollup system, the final confirmation of transactions depends on batch submission to L1, so what does "block time" actually mean? Security of Preconsents a) Solana Suppose a Solana validator receives two Shreds from the leader, but these Shreds are ultimately not included in the final block; there could be two scenarios: 1. Leader downtime: The final block fails to be produced, and the slot is skipped. In this case, the next leader will take over these Shreds and include them in their block (replicated onto the heaviest fork). 2. Leader malfeasance: The leader propagates different Shreds to different validators, attempting to split the network. Therefore, the only guarantee that a transaction will be included is trusting that the leader will not act maliciously or corruptly. b) MegaETH MegaETH has only one sequencer, so the only assurance that transactions can be included is that the sequencer does not act maliciously. Additionally, there are two risks: · Sequencer downtime: Upon recovery, it will re-include previously preconfirmed transactions. · Ethereum L1 reorg: Any L2 transactions not yet finalized will be duplicated onto the new chain by the sequencer. c) Base Base's preconsent mechanism is similar to MegaETH but further relies on the security of a Trusted Execution Environment (TEE). Even if the TEE is attacked, the only thing that can be altered is the priority order of transactions, not whether they are included in the end. In all cases, users can benefit from quicker preconsent, but this is contingent on the leader (sequencer) not acting maliciously. Since each block's leader has a monopoly on constructing the block, it is reasonable to assume that the probability of malfeasance (P) is consistent in each block construction. What Does L2 Block Time Mean? L1 relies on a consensus mechanism, while (most) L2 does not have a traditional consensus mechanism. On L1, the existence of block time is to improve consensus efficiency, as voting occurs at the block boundaries, and validators will vote on the correctness of the entire block's transactions. But in consensus-less L2, do we still need block time? The answer is yes. Although block time in L2 can be arbitrarily chosen and only represents "pre-finality" rather than finality, setting a fixed block time is still very helpful in many ways, including: • Implementing mechanisms like EIP-1559 at the block level is more efficient than at a more frequent mini-block/lightning block level. • If L2 plans for decentralized ordering and proving, well-defined block boundaries aid in the voting and proving processes. With the improvement in blockchain performance, sub-second pre-finality will become the norm. The winning chains will also ensure a significant penalty for P (corruption), serving as a strong disincentive. Source: "Original Post Link"
Ordinals trading surges 1,200% on Magic Eden as Bitcoin Pepe’s presale hits $5.5m
Key takeaways Ordinals trading on Magic Eden spiked by 1,200%, with the trading volume hitting $50m. The Bitcoin Pepe presale has now reached $5.5 million as stage seven ends shortly. Magic Eden records spike in Ordinals trading volume Magic Eden, one of the leading NFT marketplaces, experienced a short-lived, week-long period of sustained volume in Ordinals trades. The platform saw a 1,200% surge in Ordinals trading volume during that period, with over $50 million traded. Ordinals are NFTs on the Bitcoin blockchain. The surge in Ordinals trading volume could indicate a possible increase in interest in the Bitcoin NFTs. What is Bitcoin Pepe? The surge in interest in Ordinals could spark positive development for other Bitcoin-based projects. Bitcoin Pepe is a project launching on the Bitcoin blockchain and is set to introduce memecoin trading within the ecosystem. The project intends to revolutionise the Bitcoin ecosystem by leveraging the liquidity and security of the Bitcoin blockchain. Bitcoin Pepe will use Bitcoin’s position in the market to introduce memecoins to its ecosystem. By launching a layer-2 network on Bitcoin, Bitcoin Pepe will specialise in memecoin trading and other DeFi activities. It will enable Bitcoin Pepe to become home to memecoin activities within the Bitcoin ecosystem. Overall, Bitcoin Pepe will help unlock decentralized finance (DeFi) and meme trading on top of BTC. In addition, Bitcoin Pepe is the first meme initial coin offering (ICO) on the Bitcoin blockchain, granting it the unique power to fuse BTC’s security with the unstoppable force of memecoins. Bitcoin Pepe presale hits $5.5m As a Bitcoin-based project, Bitcoin Pepe is already setting impressive records. The presale is quickly selling out, and the seventh stage will be over in the coming hours. The Bitcoin Pepe presale raised $5.5 million in five weeks thanks to growing interest in its unique value proposition. The native $BPEP token is available to investors via the Bitcoin Pepe website. It can be purchased using various cryptocurrencies, including ETH, USDT, USDC, BNB, and SOL. In this sixth presale stage, $BPEP is worth $0.0281, and it will increase to $0.0295 in the eighth stage. Will Bitcoin Pepe positively impact the Bitcoin ecosystem With a market cap of over $1 trillion, Bitcoin is currently the most liquid blockchain in the world. While Bitcoin is home to NFTs like Ordinals, memecoins are yet to fully kickoff on the blockchain. Bitcoin Pepe intends to change that by introducing memecoin and DeFi trading on the Bitcoin network. The Bitcoin Pepe L2 network will enable developers to easily launch memecoins on the Bitcoin blockchain. Memecoins will empower the Bitcoin blockchain to become home to a crazy high-octane meme experience. Furthermore, the L2 will provide the necessary infrastructure for all memes to migrate to BTC, ensuring security and liquidity for investors and users. Should you buy the $BPEP token during the presale? The $BPEP token will be available to users via centralised and decentralised exchanges. However, it is currently available to investors in the ongoing presale. This native token will power the Bitcoin Pepe ecosystem and could become a tremendous performer in the coming months and years. The presale will enter the eighth stage in the coming hours or days, with the $BPEP token set to increase to $0.0295. $BPEP is not an ordinary memecoin as its utility could make it important to users.
Ordinals trading spikes 1,200% on Magic Eden but momentum quickly fades
Earlier this month, Magic Eden experienced a short-lived, week-long period of sustained volume in Ordinals trades. During the last week of February, Ordinals trading volume on Magic Eden averaged just $1.76 million per day. This figure rose by over 1,200% the following day, as Magic Eden facilitated $15.5 million in Ordinals trading volume. Throughout the subsequent eight days, this figure averaged nearly $50 million per day in trading volume, totaling over $448 million. Interestingly, the week-long sustained increase in Ordinals volume was isolated to Magic Eden, as other Ordinals marketplaces did not see similar spikes. However, Magic Eden’s heightened Ordinals volumes came to a halt on March 9, as the daily figure experienced a 95% decline compared to the previous day. The likely cause for this spike was the week-long minting period for Idiots, a 10,000-supply NFT collection on Bitcoin, that ran on Magic Eden and coincided with the heightened volume period. Since the Idiots minting period ended, average Ordinals trading volume on Magic Eden has returned to its pre-mint mean, indicating it is unlikely that this would spark a prolonged Ordinals narrative of sorts. However, a significant event is coming up in the Ordinals sector that has the potential to trigger a prolonged narrative: the Taproot Wizards mint. Taproot Wizards, launched in February 2023, is a Bitcoin-based NFT collection inspired by the 2013 Bitcoin Wizard meme and has become one of the most prominent communities within the Ordinals ecosystem. The public auction for the Taproot Wizards collection is set to occur in the coming weeks . This is an excerpt from The Block's Data & Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.
Benchmark is bullish on Exodus Movement amid 60% stock dip, rising self-custody demand
A sharp selloff and the largest crypto exchange hack in history make it a good time to buy shares of Exodus Movement , according to Benchmark. The company’s market capitalization has plummeted more than 60% over the past five weeks. “We believe the recent pullback in the price of EXOD’s shares…has created a compelling opportunity for investors to gain exposure to a firm with strong operating momentum, the demonstrated ability to scale rapidly, and a tailwind from the more accommodative stance toward the crypto space in the U.S.,” Benchmark equity analyst Mark Palmer wrote Wednesday in a note to clients. Founded in 2015, the company's core business revolves around the Exodus Wallet, a non-custodial wallet that enables users to store, manage and exchange over 1,000 cryptocurrencies. “Self-custody crypto wallets give users full control over their private keys,” Palmer wrote. “The case for crypto self-custody was underlined a couple of weeks ago when centralized crypto exchange Bybit was the target of a record-breaking hack of 400k ether (worth ~$1.5bn) believed to have been executed by hackers working for the North Korean government.” Exodus Movement derives about 85% of its revenue from the exchange aggregation feature within its crypto wallet, Palmer said, which consolidates liquidity from multiple third-party exchange API providers and “thereby offers users attractive rates and fast fulfillment times across more than 60,000 crypto token pairs.” On March 3, Exodus Movement’s fourth-quarter earnings report featured strong preliminary results for the current quarter, including revenue of $44.8 million, up 143% year over year, and exchange provider processed volume of $2.33 billion, up 172%. The company also said its preliminary exchange provider processed volume for January and February was $1.45 billion, already up $100 million from last year's entire quarter. Palmer also touted the company’s “wallet-as-a-service” business, which leverages its aggregation technology in XO Swap, its crypto swap engine that it integrates into the platforms of partners such as Ledger and Magic Eden. Palmer initiated coverage on the stock with a “buy” rating and $38 price target. Shares traded around $25.20 at publication time, according to The Block’s EXOD price data .
Hubpay and Aquanow Launch Regulated Crypto Payments for UAE Businesses
Hubpay, a UAE-based cross-border payments platform, has partnered with Aquanow, a digital asset infrastructure provider, to introduce a regulated cryptocurrency payment solution for businesses and SMEs in the UAE. This partnership enables companies in various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments alongside traditional fiat transactions. Aquanow ME FZE operates under Dubai’s Virtual Asset Regulatory Authority (VARA), while Hubpay is regulated by the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM). The collaboration is set to provide businesses with a regulated framework for integrating crypto transactions into their payment operations. A Step Toward Digital Payment Expansion The UAE has seen rapid growth in digital asset adoption, with cryptocurrency transactions increasing significantly. By combining Aquanow’s infrastructure with Hubpay’s regulated payment network, the initiative aims to simplify crypto payments for businesses, allowing them to integrate digital assets within an existing payment system. Kevin Kilty, CEO and Founder of Hubpay, stated: “This collaboration with Aquanow allows us to expand our cross-border payment solutions and introduce regulated crypto payments to businesses in the UAE. Stablecoins offer transaction efficiency while maintaining the reliability of traditional currencies. By integrating Aquanow’s technology with our regulated network, we aim to provide businesses with a seamless transition into digital asset payments.” Phil Sham, CEO of Aquanow, added: “Partnering with Hubpay enables us to introduce practical use cases for digital assets in the region. Cryptocurrency is becoming more than an investment tool—it is evolving into a payment method for high-value transactions. Through this integration, we are streamlining transactions for businesses and investors alike.” Potential Benefits for Real Estate and SMEs The real estate sector, which continues to see high transaction volumes in the UAE, could benefit from crypto payments by offering buyers an additional method for property transactions. With resale property profits reaching approximately $16.33 billion in 2024, the ability to settle transactions in digital assets may help facilitate faster payments while reducing costs. For SMEs, the integration of a regulated crypto payment gateway may help optimize cross-border transactions, reduce fees, and improve cash flow by minimizing settlement delays. Additionally, businesses seeking to expand their customer base could benefit from offering digital asset payment options to global markets. As the UAE strengthens its position in digital finance, regulated payment solutions may play a role in shaping how businesses adopt cryptocurrency in a compliant and secure manner * Read our disclaimer
SEC Closes OpenSea Probe Without Action, Boosting NFT Market
The SEC has closed its investigation on OpenSea with no legal action, relieving traders. OpenSea plans to launch its SEA token while solving past concerns from users. The decision signals reduced control pressure on NFTs, which may lead to market upscale. The U.S. Securities and Exchange Commission (SEC) has finalized its investigation into OpenSea without taking enforcement action. OpenSea’s CEO Devin Finzer tweeted the development and went on to call it a victory for creators and builders in the NFT space. The probe, which began with a Wells Notice in August 2024, had raised concerns over their non-fungible tokens, to qualify as securities. The SEC is closing its investigation into @opensea. This is a win for everyone who is creating and building in our space. Trying to classify NFTs as securities would have been a step backward—one that misinterprets the law and slows innovation. Every creator, big or small,… — dfinzer.eth | opensea (@dfinzer) February 21, 2025 Regulatory Uncertainty Ends for OpenSea and NFT Market OpenSea had been under SEC inspection for months after receiving a Wells Notice, which signaled possible judicial action. The commission was examining whether certain NFTs sold on the platform met the definition of securities. In response, OpenSea allocated $5 million to a defense fund to support artists and developers facing similar scrutiny. According to sources, the SEC officially told OpenSea that the investigations against them had concluded and were not to be called for further action. This decision comes after Coinbase’s announcement that the commission dropped its action against the exchange, suggesting a potential shift in focus. Many in the crypto industry view this as a sign that regulators may be stepping back from enforcement against digital assets. Related: The Growing Impact of Altcoins in the NFT Marketplace Implications for the NFT Ecosystem The SEC’s decision removes legal uncertainty for OpenSea and its users, allowing creators and developers to continue operations without immediate regulatory constraints. Many in the crypto space argue that NFTs should be classified as virtual collectibles rather than financial instruments. The conclusion of the investigation aligns with this point of view of reducing concerns over a much more intense oversight. Despite being a competitor, Magic Eden’s Chief Business Officer, Chris Akhavan, welcomed the news, stating that the outcome benefits the entire NFT industry. Crypto commentator Beanie also made a suggestion about the regulatory clarity and how it could be a catalyst for a new NFT market surge. The announcement has been met with optimism across the sector. Have to give credit where credit is due, and OpenSea did a wonderful thing for the NFT industry by facilitating some regulatory clarity. I’m sure it has come at great cost as well. So we should all be thankful for that. This could be a real catalyst for the next NFT bull market. — Beanie (@beaniemaxi) February 22, 2025 What’s Next for OpenSea? Shortly before the SEC’s decision, the OpenSea Foundation announced plans to launch SEA, a new project token. Although a specific release date was not provided, SEA will be available in multiple countries, including the U.S. Meanwhile, OpenSea recently halted an airdrop incentive program after user criticism regarding its structure and fee mechanisms. With the investigation closed, the NFT marketplace can now focus on innovation and expansion. However, it remains to be seen whether the SEC’s stance on NFTs and other digital assets will shift again in the future. The post SEC Closes OpenSea Probe Without Action, Boosting NFT Market appeared first on Cryptotale.
Magic Eden: Unclaimed ME tokens have been airdropped to the wallets of staked users
Odaily Planet Daily reports that Magic Eden's official announcement on platform X states: Users can check their wallets, and addresses involved in staking will receive a share of the unclaimed ME token airdrop.
OpenSea and Doodle token teasers are a potential vibes booster for crypto
This is a segment from the Empire newsletter. To read full editions, subscribe . Outside of L1s, this was also a big week for token announcements. OpenSea teased SEA and a new platform, and Doodle’s plans to launch its own token. Newsletter Subscribe to Empire Newsletter Subscribe Does it mean that NFTs are back? Eh. But for The Drop’s Kate Irwin, it’s a vibes booster for people, one that’s perhaps necessary right now. (ICYMI: The Drop is our newest newsletter, and I’ve been following Irwin’s reporting in Web3 and gaming for a few years now.) She and I chatted about the tokens and OpenSea’s OS2 and she explained that there’s another part to this: XP, which is not a token but is earnable and is “core” to the OS2 rewards program. “There’s a lot of other moving pieces as well, besides just the token, which is exciting, because then it’s not a memecoin. It’s actually a utility token that has a place in the OpenSea ecosystem,” she added. Phew. Nice to have an announcement not focused on memecoins. My big thing is whether or not this comes a little too late. When Irwin and I chatted this through, she made the sage point that this could be simply because OpenSea was worried about the potential regulatory issues that could arise (they were served with a Wells notice after all ) and now, well, that’s no longer a problem. But, unfortunately for OpenSea, they are following in Magic Eden’s footsteps after it launched a token first . It, notably, hasn’t dulled the excitement around OS2 or SEA though. This could also be the beginning of a new wave of tokens, Irwin noted — especially because there is an appetite for tokens that have actual utility and not just speculation. Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter . Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter . Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more. The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus. Tags Doodles Empire Newsletter OpenSea
Magic Eden: 16.4 million unclaimed ME will be distributed to pledged wallets before the claim period ends
Magic Eden has released an update on the unclaimed ME in the Genesis Airdrop on X: Starting from 11 AM (Pacific Time) on February 14th, 16.4 million ME will be directly distributed to wallets staked before the end of application on February 1st.
Magic Eden: 16.4 million ME will be distributed directly to wallets that have pledged ME before the claim deadline
Magic Eden officials announced that starting at 11:00 AM (Pacific Time) on February 14th, 16.4 million ME tokens will be directly distributed to wallets that have already been pledged before the deadline of February 1st.
Magic Eden: 16.4 million ME will be directly distributed to wallets that have staked ME before the application deadline
The official Magic Eden stated that starting from 11 a.m. on February 14th (Pacific Time), there will be 16.4 million ME directly distributed to the wallets that have been staked before the application deadline on February 1st.
BitBoy Blows Whistle: Alleges Extortion, Fraud in Lamborghini & Crypto Empire Feud
Ben Armstrong, better known as BitBoy, has gone public with serious accusations against former business associates, claiming they engaged in extortion, fraud, and organized crime. This messy situation, fueled by a stolen Lamborghini, has blown up into a wider legal and financial fight, involving several people and a cryptocurrency business worth millions. Armstrong says he was tricked, threatened, and ultimately strong-armed into handing over valuable assets. His story suggests a complex web of made-up accusations, financial tricks, and betrayal. *If* people watch the video i'm about to post and still EVERYONE FUCKING HATES ME and NO ONE WILL FUCKING LISTEN TO ME. https://t.co/aZTTPgQ7wJ I should killWhy would I live? Why? I had something SO FUCKING traumatic happen to me and everyone tells me it didn't even happen. And… — The BitBoy (@BenArmstrongsX) February 11, 2025 Extortion and Financial Games Alleged Armstrong asserts his problems started with TJ Shedd and his business partners, who he says plotted to kick him out of their joint venture. He describes a string of deceptive actions, including fake police reports, phony legal papers, and scare tactics. Related: BitBoy’s Former Company Hit Network Subpoenaed by CFTC Crucially, he points to a meeting with Carlos Diaz, who he alleges pressured him into signing over his Lamborghini with threats of violence. Diaz, apparently with a criminal history, is accused of using fear to wrestle money and assets from Armstrong. Workplace Spat Twisted into “Misconduct” Additionally, Armstrong claims fabricated accusations were used to trash his reputation. He talks about an incident where a small workplace argument was blown up into an allegation of misconduct, which authorities later threw out. According to Armstrong, these moves were part of a calculated plan to cut him off and grab control of his business ventures. Legal War and Corporate Double-Cross The argument has gone to court, with Armstrong filing police reports and trying to get back financial losses he estimates at over half a million dollars. Related: Ben Armstrong Pulls Up On Former Associate Carlos Diaz, Gets Arrested He alleges a bigger $27 million scheme involving tax evasion and stolen notary stamps across several states. Despite showing evidence in court, his extortion claims were initially dismissed, adding to his frustration with the legal system. He’s also pointing fingers at his former legal representatives, especially George Kic, accusing them of misconduct and secretly working with Shedd’s group. He thinks these legal maneuvers were designed to keep him tied up in lawsuits while his enemies kept hold of key business assets. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Trivago Partners with Travala to Enable Crypto Payments
With this partnership, Trivago users now have the option to pay for their stays using BTC and ETH. They can also use dozens of other cryptocurrencies . This move opens the door to a new way of booking travel. It makes it easier for crypto enthusiasts to use their digital assets for real-world experiences that accept crypto payments. Travala’s Crypto Integration and Takeover Talks Travala , backed by Binance, has been gaining ground as a leader in blockchain-based travel services. When Trivago users select a hotel listed by Travala, they’ll be redirected to Travala’s website, where they can complete their booking using a variety of cryptocurrencies. Trivago x Travala partnership unlocks 2.2M+ hotels payable with 100+ cryptocurrencies Book your next trip with $BTC , $ETH , $SOL , $AVA , and more! Check out the full story on @CoinDesk 👇 https://t.co/kyFyDZdceW — Travala.com 🏨 ✈️ (@travalacom) February 5, 2025 The integration of Travala’s inventory makes Trivago one of the first mainstream travel platforms to embrace crypto payments, a move that could shake up the industry. More About Travala Travala’s luxury Concierge service has partnered with BRAVOS by Meliá Hotels International, giving clients access to exclusive perks at Meliá’s top four luxury brands: Gran Meliá Hotels & Resorts, ME by Meliá, The Meliá Collection, and Paradisus by Meliá. Travala’s luxury Concierge service has joined BRAVOS by Meliá Hotels International Concierge clients can now enjoy exclusive privileges at Meliá’s top 4 luxury brands: Gran Meliá Hotels & Resorts, ME by Meliá, The Meliá Collection, & Paradisus by Meliá. https://t.co/5dnwV1i4gS — Travala.com 🏨 ✈️ (@travalacom) February 3, 2025 This collaboration allows Travala’s concierge clients to enjoy unique privileges. Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
Blur Tops The NFT Marketplace Chart In January 2025
Blur, a decentralized crypto and Ethereum-based non-fungible token marketplace that prioritizes in feeless transactions and renowned for offering crypto liquidity lending using non-fungible token collections as collateral, was the top most traded NFT market platform in January. In the past 30 days, the NFT marketplace has raised a trading sales volume of $439 million, taking 50% of the total marketplace volume. Blur Leads the NFT Market Chart in Jan 2025 Data compiled by nftpulse.org , a multi-chain non-fungible token collections explorer, indicates that Blur was the most traded non-fungible token marketplace in January. From January 01 to February 02, the Blur NFT marketplace has amassed a trading sales volume of $439 million, flipping top NFT marketplaces such as the OpenSea and Magic Eden NFT marketplace. The NFT market has taken 50% of the total sales volume. In January, the NFT market recorded a trading sales volume of $876 million. Magic Eden, one the largest cross-chain non-fungible token marketplaces, was the second most traded NFT market platform in January. From January 01 to February 02, the Magic Eden NFT market platform has amassed a trading sales volume of $143 million, taking 16% of the total market share. Magic Eden lost dominance to Blur after holding the position for the past seven months. OpenSea, a leading non-fungible token marketplace on the Ethereum NFT ecosystem, was the third most-traded NFT marketplace in January, closely following Magic Eden in trading sales volume. In the past 30 days, the OpenSea NFT marketplace has amassed a trading sales volume of $141 million, taking 16 % of the five top NFT marketplace market shares. Ethereum-based NFTs took 88% of the total market share in the OpenSea NFT ecosystem. OKX, a non-fungible token marketplace that works seamlessly with over 10 networks, including Ethereum, Solana, Polygon, and the BNB Chain blockchain network, was the fourth most-traded NFT marketplace in January. From January 1 to February 02, the OKX NFT marketplace recorded a trading sales volume of $50 million, taking 5.8% of the total market share. Base NFTs took 40% of the total market share in the OKX NFT ecosystem. Tensor, one of the largest non-fungible token marketplaces on the Solana NFT ecosystem, was the fifth most traded NFT market platform in January, crawling behind the OKX NFT marketplace. From January 1 to February 02, the Tensor NFT market platform recorded a trading sales volume of $30 million, taking just 3.6% of the five most-traded NFT marketplace market shares. Magic Eden Tops in NFT Marketplace Users On the other hand, Magic Eden has outpaced the Blur NFT market platform as the most adopted NFT marketplace in January. In the past 30 days, the Magic Eden NFT market platform has recorded 178,000 users, taking 34% of the total marketplace users in January. In January, OpenSea and Tensor were the second and third most adopted NFT marketplaces, recording 162,000 and 108,000 users, respectively. OKX was the most adopted NFT marketplace in January, with 17,000 users. Related NFT News: NFTs Sales Plunge In January, Down 24% From December 2024 NFTs Trading Sales Plunge 28% To $141M In The Past 7 Days Top Selling NFTs This Week – Azuki, Bored Ape, Penguins & More
Magic Eden: All unclaimed ME tokens will be airdropped to ME stakers in February
According to ChainCatcher, Magic Eden, an NFT market, officially stated that in February, all unclaimed ME tokens will be airdropped to stakers based on pledges. As of now, 16.9 million ME tokens will be distributed to stakers in February. ME claims will end at 7:00 am Beijing time on February 2.
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