MAGIC (Treasure) rose 47.94% in the last 24 hours.

Gate News Bot message, August 5, according to CoinMarketCap data, as of the time of writing, MAGIC (Treasure) is currently priced at $0.27, having risen 47.94% in the last 24 hours, reaching a high of $0.27 and a low of $0.14, with a trading volume of $529 million in the last 24 hours. The current market capitalization is approximately $84.7 million, an increase of $27.5 million compared to yesterday.

Treasure is a blockchain ecosystem focused on AI, Smolworld, and Bridgeworld. MAGIC is the native token of this ecosystem, used for building, gaming, and evolution. Treasure is developing multiple products, including virtual companion AI, Smolworld games, and the Canopy platform. The project also offers an NFT trading market and supports community governance.

Important recent news about MAGIC:

1️⃣ Magic Labs launched the Newton platform, focusing on the integration of AI and cryptocurrency Magic Labs recently launched the Newton platform, a crypto ecosystem focused on verifiable AI agents. The platform aims to integrate AI technology with blockchain, bringing new application scenarios and value rise points to the MAGIC ecosystem.

2️⃣ Magic Eden plans to launch ecosystem token ME The NFT trading platform Magic Eden has announced the upcoming launch and adoption of the ecosystem token ME. Although Magic Eden is not the same project as MAGIC (Treasure), this news may have sparked general market attention towards NFT and GameFi related tokens, indirectly driving up the price of MAGIC.

3️⃣ Treasure DAO faces challenges, market reaction is complex Recently, reports have indicated that Treasure DAO may be facing operational difficulties. However, the significant rise in MAGIC's price seems to contrast with this news, possibly indicating that investors remain optimistic about the project's future development, or that the market is reassessing the value of MAGIC.

From a technical perspective, the price of MAGIC has broken through previous resistance levels, and the 24-hour volume has increased significantly, indicating strong upward momentum. However, considering the substantial rise in the short term, investors should be wary of potential pullback risks.

This message does not constitute investment advice. Investors should be aware of market volatility risks.