- Buy Crypto
- Markets
- Futures
- Spot
- Copy Trade
Earn- More
Magic Eden's New Buyback Policy May Only Buy Back Around $20,000 Worth of ME Tokens Monthly
BlockBeats News, January 19th, according to nftpulse data, Magic Eden's transaction volume in the past 30 days was $12.8 million, accounting for 9.1% of the NFT market share. The platform's 30-day revenue was only $267,000, with 74% of the revenue coming from the Solana chain transactions and 25% from the Bitcoin network transactions.
Also, according to CoinGecko data, Magic Eden's platform token is currently priced at $0.253, with a market capitalization of $108 million, a fully-diluted valuation of $253 million, and a 24-hour trading volume of $110 million.
If the NFT market transaction heat remains the same, based on the "15% Revenue Allocation to ME Ecosystem" strategy that will start on February 1st on the Magic Eden platform, the policy will only allocate about $20,000 monthly to repurchase ME tokens.
BlockBeats previously reported that Magic Eden announced that starting from February 1st, 15% of its revenue will be directly invested in the ME token ecosystem. This portion of the revenue will be evenly distributed, with 50% used to repurchase ME tokens on the open market and 50% distributed to ME stakers in USDC form based on staking weights.
You may also like
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
Why is Trump’s Fed Chair Pick Kevin Warsh Seen as Bad News for Precious Metals, Commodities, Bitcoin, and Equities?
Key Takeaways: Kevin Warsh, once appointed, is expected to take a more hawkish stance on monetary policy, which…
Who Is Kevin Warsh? How His Fed Chair Odds Are Influencing Bitcoin Markets
Key Takeaways Kevin Warsh, a former Federal Reserve governor, is becoming a strong candidate for the next Fed…
Strategy (MSTR) Stock: Michael Saylor’s Bitcoin Bet Goes Red But Here’s The Twist
Key Takeaways Strategy’s Bitcoin investment has dipped below its average purchase price, highlighting market volatility. No immediate financial…
Gov-Backed Asset or Solana Meme? Uncovering the Reality Behind the USOR Crypto Frenzy
Key Takeaways USOR, a Solana token, sparked a debate over its legitimacy by claiming associations with U.S. strategic…
Bitcoin Hashrate Falls 12% After US Winter Storms Hit Miners
Key Takeaways: The total network hashrate for Bitcoin has declined by approximately 12% since November 11, marking the…
Gold’s Six-Month Rally Against Bitcoin Shows Parallels to 2019 Cycle
Key Takeaways Gold has consistently outperformed bitcoin over the last six months, despite being typically considered the haven…
Mantle’s Cross-Chain Era on Solana: Onboarding the Bybit Express to Mantle Super Portal
Key Takeaways Bybit joins forces with Mantle to enhance cross-chain asset flows through the Mantle Super Portal. Mantle…
XRP Price Outlook for 2026: Is Bitcoin Hyper Part of Long Term Themes?
Key Takeaways The potential future of XRP in 2026 is significant, with various factors influencing its growth and…
Bitcoin Price Prediction: BTC Slips to $78K as Gold and Silver Plummet – Is the Downtrend Settling?
Key Takeaways Bitcoin and traditional safe havens like gold and silver experience synchronized declines in a volatile market…
$30 Million Heist: Step Finance Treasury Wallets Breached
Key Takeaways Step Finance, a prominent Solana-based DeFi platform, faced a significant security breach, losing approximately $30 million…
Bitcoin Price Prediction: $50B Volume Drops 40% as BTC Tests $83K – Is a Breakdown Next?
Key Takeaways: Bitcoin’s trading volume has seen a significant decline, indicating cautious trader behavior. Bitcoin prices remain under…
Bitcoin’s 7% Drop to $77K Might Indicate Cycle Low, Analyst Suggests
Key Takeaways: Bitcoin has experienced a significant drop from $77,000 to around $78,600 after a modest rebound. Analyst…
Tom Lee–Linked Bitmine Faces Over $6B in Unrealized Losses on ETH Reserve
Key Takeaways: Bitmine Immersion Technologies reports significant unrealized losses exceeding $6 billion from its Ether reserves. The firm…
Silver Suffers Record 36% Drop as Precious Metals Crash – Is Bitcoin Primed for a Rally?
Key Takeaways Silver and gold undergo a historic collapse due to geopolitical and technical influences, culminating in significant…
XRP Price Prediction: $70M Liquidated as XRP Approaches $1.70 – Is $1.60 Next?
Key Takeaways XRP is experiencing a pronounced sell-off, struggling at the $1.70 level after a significant decline. A…
What Happened in Crypto Today? Solana-Native Rails Launch on Digitap ($TAP) as the Best Crypto to Buy
Key Takeaways Digitap ($TAP) spearheads the transition toward real-world utility in cryptocurrency, offering a seamless financial ecosystem through…
Here’s Why Fed Contender Kevin Warsh is Seen as Bearish for Bitcoin
Key Takeaways Kevin Warsh is a potential nominee for the U.S. Federal Reserve chair, causing concerns due to…
XRP Price Breakdown Intensifies — Can Support Mitigate the Shock?
Key Takeaways XRP has dipped below the significant $1.80 mark, continuing its downtrend. The asset is trading beneath…
Why is Trump’s Fed Chair Pick Kevin Warsh Seen as Bad News for Precious Metals, Commodities, Bitcoin, and Equities?
Key Takeaways: Kevin Warsh, once appointed, is expected to take a more hawkish stance on monetary policy, which…
Who Is Kevin Warsh? How His Fed Chair Odds Are Influencing Bitcoin Markets
Key Takeaways Kevin Warsh, a former Federal Reserve governor, is becoming a strong candidate for the next Fed…
Strategy (MSTR) Stock: Michael Saylor’s Bitcoin Bet Goes Red But Here’s The Twist
Key Takeaways Strategy’s Bitcoin investment has dipped below its average purchase price, highlighting market volatility. No immediate financial…
App