Binance will launch Magic Eden #ME on 2024/12/10 23:00

#ME has a total supply of 1 billion and a circulating supply of 125 million, with a reasonable FDV of 1.5 billion. More than half will be airdropped to the community, with 12.5% of the airdrop fully unlocked at TGE, which may potentially be a significant airdrop.

Due to the impact of Binance's launch news, the pre-market price on OKX has already surpassed $6, with a circulating market value exceeding $750 million.

While ME may not be expected to bring back much for NFTs, it is believed that ME, which is committed to (all chains, all assets), may see a decent increase in the future.

Following the pig trotter rice #MOVE airdrop, we welcome #ME, with MOVE currently priced at 0.91 and a circulating market value of 2.1 billion.

For #ME, market players are looking at it from three different perspectives:

① Second NFT market on Solana (compared to TNSR)

This perspective is now basically discarded, as the pre-market price corresponding to $ME's circulating market value is already higher than $TNSR's FDV, and is about 7 times $TNSR's circulating market value.

So why was $TNSR used for comparison before? Players comparing $ME to $TNSR may be more focused on Solana NFT. In the Solana NFT space, Magic Eden indeed lost its position as the number one NFT market to Tensor.

② First DEX for Bitcoin

Most of this perspective consists of loyal fans of the Bitcoin ecosystem. Although in everyone's impression, the Bitcoin ecosystem is just average, the only NFT project in the top 10 total market value is Bitcoin Puppets, which happens to be in 10th place, with all the others being ETH NFT projects.

③ (Hyperliquid)

This is the most optimistic perspective, where "in a bull market, FDV is just a meme; only circulating market value matters."

$ME's initial circulating supply is even smaller than $HYPE (with $ME having only 12.5% initial circulation, or 125 million tokens), and its distribution is well done, also being a project with strong profitability and growth potential. Based on these three points, the most optimistic player group believes that $ME should become the second $HYPE and reach $40.

In summary, the bull market has quietly begun, and anything is possible.