Author: Frank, PANews
The wave of sharing from Movement has not yet ended, and Magic Eden's airdrop follows closely behind.
On December 10, the cross-chain NFT marketplace Magic Eden, which had previously raised $130 million, announced its TGE and launched an airdrop campaign for users to claim the ME token. Many profit-seeking studios showcased their results on social media, claiming that this is another high-return project this year. However, due to the lack of detailed data on the ME token airdrop in the market, PANews conducted data analysis on Magic Eden's airdrop program, analyzing the 125,000 addresses that have claimed tokens to assess the value of the Magic Eden airdrop.
Low-income accounts can claim up to $272.
As of December 11 at 14:00, a total of 92.26 million ME tokens have been claimed, with over 73.8% of the tokens already claimed. Overall, the scale of the claimed airdrop for this round of Magic Eden is approximately $738 million.
The most common addresses are those with less than 100 tokens, with 45,936 addresses claiming less than 100 tokens. The minimum address can claim 34 tokens, calculated at a maximum of $8, which amounts to $272. There are 6,917 addresses that claimed 34 ME tokens, accounting for about 5.5%, while the remaining 94.5% of addresses claimed amounts higher than this. From this perspective, the ME airdrop can be considered a significant benefit.
The number of addresses claiming between 101 and 500 tokens ranks second, with 43,182 addresses. Addresses claiming below 2,000 tokens account for 91.8% of the claimed addresses. On average, each address claimed 735.8 tokens, worth approximately $5,886.
Among the claimed addresses, there are 664 addresses with earnings exceeding $100,000. There are 7 addresses with claims exceeding 100,000 tokens, with the highest single address being 160,037 tokens. Based on a maximum price of $8, this address's earnings exceed $1.28 million.
Who is the king of airdrops: Magic Eden, Movement, or Hyperliquid?
Recently, several airdrop projects concentrated their TGE, making profit-seeking players once again the envy of the industry. Comparing several recent airdrop projects, 98.5% of the addresses in Movement's claimed airdrop received more than 100 tokens, valued at over $100. About 43.4% of Hyperliquid's claimed amounts are above 100 tokens, valued at over $1,000. Approximately 94.5% of Magic Eden's addresses claimed more than 34 tokens, valued at over $272.
In comparison to the highest single address, Hyperliquid's maximum single address claim amount exceeds $9.56 million, Movement's maximum single address claim amount is about $500,000, and Magic Eden's maximum single address claim amount is about $1.28 million, which is between the first two.
From the above data, Hyperliquid has the highest profit per address, and the average profit is also somewhat higher. However, from an inclusive perspective, Magic Eden has a better sunny effect.
After the token launch, significant price differences appeared across different platforms.
After the ME token launch, there were significant price differences between on-chain exchanges and centralized exchanges. On DEXs like Meteora and Raydium, the price of ME surged to as high as $13 each, and on the morning of December 11, the price on Meteora also briefly rose to $9.90. In contrast, the highest price on mainstream centralized exchanges like Binance was $8. The main reason for this price discrepancy is that different exchanges had different launch times for the ME token. Meteora launched ME as early as December 10 at 22:00, while Binance's opening price was at 23:00. Additionally, the trading depth between exchanges may also be a major reason for this price difference. Among the addresses holding ME tokens, Binance and OKX remain the largest exchange addresses.
The MOVE token issued the previous day also encountered significant price discrepancies across exchanges. Being the first to list tokens has become the primary principle for exchanges regarding star airdrop projects.
Returning to the fundamental information of Magic Eden, according to data from nftpulse, Magic Eden currently leads the NFT trading market comprehensively, with over 1.5 million active users in the past year. The annual trading revenue exceeds $60.3 million, more than three times that of the second-place OpenSea. However, in terms of trading volume, Magic Eden still falls short of Blur, with a market share of about 19.5%.
However, as an NFT trading market primarily focused on runes, Magic Eden's main trading is still concentrated in the rune area, which significantly differs in business direction from OpenSea and Blur. However, from the perspective of trading revenue, Magic Eden's annual income of $60 million ranks around the 30th level among DeFi protocols, comparable to Avalanche's fees, and even surpassing Phantom and Arbitrum. From this perspective, if the rune market can reignite, Magic Eden still has significant growth potential.
All specific data is provided here for readers' reference.
