About Magic Eden
ME is the governance token for Magic Eden, a multi-chain NFT and fungible marketplace built on on Bitcoin, Solana, and EVM networks. In addition to governance, ME can also be used to list or purchase NFTs on Magic Eden.
Buy Magic Eden
Trading Insights
Buyer Ratio
Traders
47
6.82%
Buyers
15
-31.82%
Sellers
32
23.08%
Searched
47
Market Stats
Market Cap
£84.24M
0.4%
FDV
£504.04M
Circ. Supply
167M ME
Max Supply
1B ME
Total Supply
1B ME
Diluted Valuation
£502.87M
Performance
Popularity
#349
Dominance
0%
Volume (24H)
£10.17M
-0.58%
Volume (7D)
£78.81M
Volume (30D)
£257.52M
All time high
£4.01
Price Change (1Y)
-86.28%
Past performance is not a reliable indicator of future results. Learn more about asset risks.
Investment risk
Baseline risk: All crypto-assets are risky, regardless of the type of token you hold. Here are some 'baseline' risks to be aware of before deciding to invest.
Investment risk: The performance of most crypto-assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto-assets.
Lack of protections: Crypto-assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto-asset investments.
Crypto-assets are complex: It may be difficult to understand the risks associated with a crypto-asset investment. Do your own research and if something sounds too good to be true, it probably is.
Don't put all your eggs in one basket: Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments such as crypto-assets.
Defi tokens: Decentralised Finance (or 'DeFi') tokens (e.g. UNI, AAVE) are crypto-assets linked to financial applications and protocols built on decentralised blockchain technology.
Smart contract risk: DeFi relies heavily on smart contracts. Even a minor coding error or oversight can lead to a contract being exploited, potentially resulting in significant losses for DeFi tokens.
Regulatory risk: DeFi operates in a decentralized manner, often without intermediaries or financial crime controls. Regulatory bodies across jurisdictions might introduce new regulations impacting the use, value, or legality of certain DeFi protocols or assets. For example, the Perpetual Protocol (PERP) and Quickstop (QUICK) protocols may be accessible in jurisdictions where some or all the available activity may need to be regulated now or in the future. If a regulator deemed the activity to be in breach of regulation, this could seriously impact token value.
Rug-pulls / Exit scams: Some DeFi projects might be launched by anonymous or pseudonymous teams, increasing the risk of "rug pulls" where developers abandon the project and withdraw funds, leaving investors with worthless tokens.
Data/oracle risk: DeFi protocols often rely on external data sources or 'oracles'. Manipulation or inaccuracies in these data sources can lead to unintended financial outcomes within the protocols.
Protocol complexity: The complexity of some DeFi protocols can make it difficult for average users to fully understand the mechanisms and associated risks.
Additional details
Recent trends
The current price is £0.50 per ME with a 24-hour trading volume of £10.17M. Currently, Magic Eden is valued at 87.42% below its all time high of £4.01. This all-time high was the highest price paid for Magic Eden since its launch.
The current circulating supply of Magic Eden is 167,132,729.726 ME which means that Magic Eden has as total market cap of £84,240,861.40.
Market details
ME vs markets
↘ 92.63%
ME vs BTC
↘ 92.46%
ME vs ETH
↘ 92.1%
Tags
marketplace
collectibles-nfts
wallet
dapp
+2
Network & Addresses
Network | Address | |
|---|---|---|
Solana | MEFNBXixkEbait3xn9bkm8WsJzXtVsaJEn4c8Sam21u |
Price history
Time | Price | Change |
|---|---|---|
Today | £0.50 | ↗ 0.89% |
1 Day | £0.50 | ↗ 0.89% |
1 Week | £0.53 | ↘ 4.48% |
1 Month | £0.51 | ↘ 0.37% |
1 Year | £3.89 | ↘ 86.28% |
Past performance is not a reliable indicator of future results. Learn more about asset risks.
FAQ
ME is the native token of Magic Eden, a marketplace built on the Solana blockchain that focuses on the trading and management of non-fungible tokens (NFTs). Magic Eden serves as a platform for creators, collectors, and traders to buy, sell, and showcase NFT’s.
ME functions as a utility and governance token within the Magic Eden ecosystem. It allows holders to participate in governance decisions, such as voting on platform updates or changes. The token is also used for platform activities, including transaction fees or accessing premium features tied to NFT trading.
ME is primarily used to enable governance participation, where token holders vote on decisions related to the Magic Eden platform. It can also be used to interact with NFT-related services, such as paying fees, unlocking exclusive features, or incentivizing community activities. Beyond these roles, ME serves as a tradable asset within cryptocurrency markets.
Magic Eden was developed as a Solana-based NFT marketplace to address growing demand for NFT trading on a high-throughput blockchain. The introduction of ME aligned with the platform’s goals of decentralizing governance and incentivizing community participation. Its role within the ecosystem remains closely tied to NFT-related activities and governance decisions.
We update our Magic Eden to GBP currency in real-time. Get the live price of Magic Eden on Coinbase.
The current market cap of Magic Eden is £84.24M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Magic Eden is £4.01. This all-time high is highest price paid for Magic Eden since it was launched.
Over the last 24 hours, the trading volume of Magic Eden is £10.17M.
Assets that have a similar market cap to Magic Eden include OKZOO, Clearpool, Space and Time, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Magic Eden is 167 million.
Magic Eden ranks 331 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Yes, Magic Eden is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Magic Eden guide.
Social stats
Popularity in posts
#86
Contributors
1,011
Posts
2,631
% About Magic Eden
0.196%
Hold times
0 days
X (Twitter)
52.02% bullish
Sentiment
4.2 ★
Highlights
1,011 unique individuals are talking about Magic Eden and it is ranked #86 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Magic Eden has an average sentiment score of 84 out of 5. Finally, Magic Eden is becoming less newsworthy, with 0 news articles published about Magic Eden.
On Twitter, people are mostly bullish about Magic Eden. There were 54.05% of tweets with bullish sentiment compared to 3.9% of tweets with a bearish sentiment about Magic Eden. 45.95% of tweets were neutral about Magic Eden. These sentiments are based on 2520 tweets.
On Reddit, Magic Eden was mentioned in 8 Reddit posts and there were 25 comments about Magic Eden. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Legal
This data was sourced in real-time from Coinbase and other third party market vendors. Real-time data may encounter temporary delays due to system performance or downtime.
Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.