Token

Eden

Magic Eden

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Binance listed Magic Eden’s ME token a few minutes ago.</li> 
 <li>After users encountered token allocation issues, the team at Magic Eden released a Community Update.</li> 
</ul> 
<p>Magic Eden, the multi-chain NFT marketplace, saw its ME token launch today. Earlier, Binance also announced the listing of ME token with the Seed Tag applied. OKX Futures also listed ME.</p> 
<h2 id="me-s-market-cap-dropped-since-listing">ME’s Market Cap Dropped Since Listing</h2> 
<p>Since its listing on exchanges about an hour ago, ME’s market cap dropped from a top of $1.6 billion to current levels of around $586 million.</p> 
<p>ME’s price reached $12.22 and then dropped to current levels of $4.5, down by over 60% since launch.</p> 
<p>The total supply of the token is 1 billion ME, and the circulating supply is 130.74 million ME tokens.</p> 
<p>Earlier, Binance <a href="https://crypto.ro/en/news/binance-will-list-me-with-seed-tag-applied/">revealed</a> that trading would open at 15:00 (UTC) for 4 pairs: ME/BTC, ME/USDT, ME/FDUSD, and ME/TRY. The exchange also said that withdrawals would open tomorrow at 15:00 (UTC).</p> 
<p>So far, ME had a descendant trajectory since its earlier launch.</p> 
<p>On X, the team behind Magic Eden announced that today is the day that everyone’s been waiting for and ME token is here.</p> 
<h2 id="magic-eden-s-me-token-launch">Magic Eden’s ME Token Launch</h2> 
<p>The team<a href="https://x.com/MagicEden/status/1866483682367693227" rel="nofollow" target="_blank">&nbsp;shared</a> a video that teaches users how to claim tokens. Magic Eden also told users that they have until February 1st, 2025 to claim their tokens.</p> 
<p>Unclaimed tokens will be distributed to stakers, according to the announcement.</p> 
<p>Following the announcement, some users encountered issues.</p> 
<h2 id="me-user-token-allocation-issues">ME User Token Allocation Issues</h2> 
<p>Someone said that there had been a problem with their request and the claim hadn’t started yet.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GecWEenWIAAdi4h?format=jpg&amp;name=large" alt="user claim issue " width="1320" height="375" title="Magic Eden Token Launch - Community Update Released Following $ME Allocation Issues 33">
 <figcaption class="wp-caption-text">
  user claim issue
 </figcaption>
</figure> 
<p>Another user, rikky, said that he didn’t claim anything, and there are no tokens in his wallet, but he got a message saying “Tokens claimed.” The message also told him to stake tokens for a longer period to enjoy bigger multipliers on ongoing rewards.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/Geca687XMAATQQI?format=jpg&amp;name=large" alt="ME tokens claim message" width="945" height="2048" title="Magic Eden Token Launch - Community Update Released Following $ME Allocation Issues 34">
 <figcaption class="wp-caption-text">
  ME tokens claim message
 </figcaption>
</figure> 
<p>Someone got another error message telling them to update their iOS:</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GecWM6oXEAAIzvG?format=jpg&amp;name=large" alt="error message" width="945" height="2048" title="Magic Eden Token Launch - Community Update Released Following $ME Allocation Issues 35">
 <figcaption class="wp-caption-text">
  error message
 </figcaption>
</figure> 
<p>Another user said that he received a host error, to which the team at Magic Eden replied with a Community Update, saying that the ME Allocation Appeals are now live.</p> 
<h2 id="magic-eden-allows-appealing-and-correcting-me-allocations">Magic Eden Allows Appealing and Correcting ME Allocations</h2> 
<p>The message said that after the community feedback, the Magic Eden team decided to allow users to appeal and correct their ME Allocations.</p> 
<figure id="attachment_54861" aria-describedby="caption-attachment-54861" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/12/ME.png"><img loading="lazy" decoding="async" class="wp-image-54861 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/12/ME.png" alt="Magic Eden message via X" width="759" height="587" title="Magic Eden Token Launch - Community Update Released Following $ME Allocation Issues 36" srcset="https://crypto.ro/en/wp-content/uploads/2024/12/ME.png 759w, https://crypto.ro/en/wp-content/uploads/2024/12/ME-300x232.png 300w, https://crypto.ro/en/wp-content/uploads/2024/12/ME-750x580.png 750w" sizes="(max-width: 759px) 100vw, 759px"></a>
 <figcaption id="caption-attachment-54861" class="wp-caption-text">
  Magic Eden message via X
 </figcaption>
</figure> 
<h2 id="what-is-magic-eden-me">What is Magic Eden (ME)?</h2> 
<p>Magic Eden is a multi-chain NFT marketplace, and the ME token is powering the on-chain platform economy. ME is the platform’s official token, representing the largest community of on-chain users who can earn ME for trading all assets on all chains.</p> 
<p>Magic Eden<a href="https://x.com/MagicEden/status/1866246415980089526" rel="nofollow" target="_blank"> announced</a> their TGE claim via X yesterday.</p>

Magic Eden Token Launch – Community Update Released Following $ME Allocation Issues

Table of Contents

crypto.ro global

Other articles published on Dec 10, 2024

Ripple President: Ripple is Ready, Customers Already Line Up to Use RLUSD

New Zealand’s CBDC consultation results show limited public enthusiasm

Eric Trump predicts Bitcoin will hit $1 million, praises scarcity

JPMorgan Analysts Publish New Report on Bitcoin and Cryptocurrencies

Bitcoin Hits Historic $100K, Market Cap Soars Above $2T

Ethereum's Bullish Rally: Funding Rates at Multi-Month Highs

Join our free newsletter for daily crypto updates!