ME (Magic Eden) rose 29.07% in the last 24 hours.

Gate News Bot news, on September 22, according to CoinMarketCap data, ME (Magic Eden) is currently priced at $0.87, with a rise of 29.07% in the last 24 hours, reaching a high of $0.87 and a low of $0.66. The current market capitalization is approximately $145 million, an increase of $32.7 million 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 boasts the most influential protocols, providing an end-to-end user experience for trading NFTs and fungible tokens. The ME ecosystem has over 3.5 million wallets, a total trading volume exceeding $6 billion, has activated over 1,000 creators, spans 8 blockchains, with a total trading volume of over 70 million transactions, and has monthly active users reaching 500,000.

Important news about ME recently:

1️⃣ The meme coin craze drives the rise in demand for NFT platforms Recently, the Meme coin market has been experiencing a continuous rise in popularity, with several new projects seeing significant pumps. 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 the demand for ME tokens.

2️⃣ Cross-chain ecosystem continues to expand Magic Eden continues to expand its cross-chain ecosystem, currently covering 8 blockchains. This multi-chain strategy not only increases the platform's user base and trading volume but also enhances the value and utility of the ME token as a cross-chain asset.

3️⃣ Large institutional investors focus on the NFT and GameFi sectors There are signs that large institutional investors are increasing their investments in the NFT and GameFi sectors. As a leading NFT platform in the industry, Magic Eden may become a focal point for these investors and is expected to attract more capital influx.

From a technical perspective, after ME broke through the key resistance level of $0.87, it may face some pullback pressure in the short term. Investors need to pay attention to whether it can hold the support level of $0.80 to confirm the sustainability of the rise trend. On the fundamental side, the large user base of Magic Eden and the continuously rising trading volume provide solid value support for the ME token.

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