ME (Magic Eden) rose 9.55% in the last 24 hours.

Gate News Bot message, September 25, according to CoinMarketCap data, as of the time of writing, ME (Magic Eden) is currently priced at 0.76 USD, with a rise of 9.55% in the last 24 hours, reaching a maximum of 0.95 USD and a minimum of 0.66 USD. The current market capitalization is approximately 127 million USD, an increase of 11 million USD compared to yesterday.

ME represents the most powerful cross-chain trading, minting, and wallet protocol suite. As the official token of Magic Eden, ME will represent the largest on-chain user community. The ME community has the most influential protocols, supporting the end-to-end user journey for NFT and token trading. The ME ecosystem has over 3.5 million wallets, a trading volume exceeding $6 billion, activated over 1,000 creators, covering 8 blockchains, with a total transaction volume exceeding 70 million and monthly active users reaching 500,000.

ME recent important news:

1️⃣ The rise in NFT market popularity drives increased demand for platforms Recently, the overall enthusiasm in the NFT market has shown signs of recovery, with a noticeable increase in transaction volume across multiple projects. As a leading NFT trading platform, Magic Eden is expected to benefit from this trend, attracting more users to participate in NFT trading and minting activities, thereby driving up the demand for ME tokens.

2️⃣ Cross-chain ecosystem continues to expand Magic Eden currently covers 8 blockchain networks and continues to expand its cross-chain ecosystem. This multi-chain strategy not only increases the platform's user base and transaction volume but also enhances the value and utility of the ME token as a cross-chain asset, laying a solid foundation for its long-term development.

3️⃣ The market's attention towards the NFT and GameFi sectors has increased Recently, the market's attention towards the NFT and GameFi sectors has increased, with several related projects experiencing significant rise. As an industry-leading NFT platform, Magic Eden may become a focal point for investors, likely attracting more capital inflow and driving the price of ME tokens to rise.

From a technical perspective, after ME breaks through the key resistance level of $0.76, it may face some pullback pressure in the short term. Investors need to pay attention to whether it can hold the support level of $0.70 to confirm the sustainability of the pump trend. On the fundamental side, Magic Eden's large user base and continuously rising trading volume provide solid value support for the ME token.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.