Author: Frank, PANews
The wave of Movement's sharing has not yet ended, and Magic Eden's airdrop follows closely.
On December 10, the cross-chain NFT market Magic Eden, which had raised 130 million dollars, announced its TGE and launched a user airdrop event for claiming ME tokens. Many profit-seeking studios shared their results on social media, stating that this is another high-return project this year. However, due to the lack of detailed data on ME token airdrops in the market, PANews conducted a data analysis of Magic Eden's airdrop program, analyzing the 125,000 addresses that have already claimed tokens to assess the value of the Magic Eden airdrop.
Low-income accounts can claim a maximum of 272 dollars.
As of 14:00 on December 11, a total of 92.26 million ME tokens have been claimed, with over 73.8% of the tokens already claimed. Overall, the scale of this round of Magic Eden's claimed airdrop is approximately 738 million dollars.
The most distributed addresses are those with fewer than 100 tokens, with 45,936 addresses receiving less than 100 tokens. The fewest addresses can receive 34 tokens, which, based on a maximum of 8 dollars, amounts to 272 dollars. There are 6,917 addresses that received 34 ME tokens, accounting for about 5.5%, while the remaining 94.5% of addresses received amounts greater 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 that received fewer than 2,000 tokens account for 91.8% of the claimed addresses. On average, each address received 735.8 tokens, with a maximum value of approximately 5,886 dollars.
Among the claimed addresses, there are 664 addresses with earnings exceeding 100,000 dollars. There are 7 addresses with more than 100,000 tokens, with the highest single address being 160,037 tokens. Based on the maximum price of 8 dollars, the earnings for that address exceed 1.28 million dollars.
Who is the king of airdrops: Magic Eden, Movement, or Hyperliquid?
Recently, several airdrop projects have concentrated on TGE, making profit-seeking players once again the envy of the industry. Comparing several recent airdrop projects, 98.5% of addresses that claimed Movement's airdrop received more than 100 tokens, valued at over 100 dollars. About 43.4% of Hyperliquid's claimed amounts are above 100 tokens, valued at over 1,000 dollars. Approximately 94.5% of Magic Eden's addresses received more than 34 tokens, valued at over 272 dollars.
Comparing the maximum amount received by a single address, Hyperliquid's maximum single address claim amount exceeds 9.56 million dollars, Movement's maximum single address claim amount is about 500,000 dollars, and Magic Eden's maximum single address claim amount is about 1.28 million dollars, lying between the former two.
From the data above, Hyperliquid has the highest profit per individual address, and the average profit is also somewhat higher. However, from an inclusive perspective, Magic Eden demonstrates a better overall distribution effect.
After the token launch, there is a general appearance of price discrepancies between different platforms.
After the ME token launch, there was a significant price discrepancy between decentralized exchanges and centralized exchanges. On DEXs like Meteora and Raydium, the price of ME soared to 13 dollars each, and on the morning of December 11, the price on Meteora surged to 9.9 dollars. In contrast, on mainstream centralized exchanges like Binance, the highest price for ME was 8 dollars. The main reason for this price difference is due to the different times at which various exchanges listed the ME token. Meteora listed ME first at 10 PM on December 10, while Binance opened its price at 11 PM. Furthermore, the depth of trading between exchanges may also be a primary reason for this price discrepancy. Among the addresses holding ME, Binance and OKX remain the largest exchanges holding these tokens.
The MOVE issued the previous day also encountered significant price discrepancies across various exchanges. Being the first to list tokens has become the primary principle for exchanges regarding high-profile airdrop projects.
Returning to the fundamental information of Magic Eden, according to data from nftpulse, Magic Eden is currently fully leading in the NFT trading market, with over 1.5 million active users in the past year. The annual trading revenue exceeds 60.3 million dollars, more than three times that of the second place, OpenSea. However, in terms of trading volume, Magic Eden still lags behind Blur, with a market share of about 19.5%.
However, as an NFT trading market primarily focused on runes, Magic Eden's main transactions are still concentrated in the rune aspect, which, strictly speaking, differs significantly from the main business directions of OpenSea and Blur. However, from the perspective of trading revenue, Magic Eden's annual income of 60 million dollars ranks around 30th among DeFi protocols, roughly on par with Avalanche's fees, and even ahead of Phantom and Arbitrum. From this perspective, if the rune market can reignite, Magic Eden still has significant growth potential.
All specific data is here for readers' reference.
