Magic Eden Announces ME Token Airdrop Date, Pre-Sale Value Reaches $562 Million

The ME Foundation has confirmed that it will launch its ME ecosystem token on December 10. The token, built on the $SOL blockchain, will be distributed via the Magic Eden Wallet app to active users on Magic Eden's NFT and $BTC trading platforms. The airdrop is expected to be worth over $500 million, based on pre-market trading prices.

While the organization has not yet announced how the current Diamonds program will convert to ME tokens, it says the allocation will be based on organic trading, cross-chain activity, and user loyalty. Once the airdrop opens, 12.5% ​​of the supply (125 million tokens) will be distributed, with 22.5% held back to incentivize ecosystem development.

Token Price and Magic Eden's Position

Currently, ME token is trading pre-market at $4.50 on Whales Market, bringing the airdrop value to over $562 million. Magic Eden, from an NFT exchange on Solana, has expanded to become the largest NFT and Bitcoin Runes trading platform, holding the leading position in market share for the past 6 months. This airdrop event is expected to consolidate Magic Eden's dominant position in the digital asset industry.