Todays Top Stories

Editor: @PhoenixxDown

$ME Speculation Continues To Run Rampant

As the $ME airdrop approaches, speculation about its value is heating up! With allocations set to be revealed on December 4th and the airdrop going live on December 10th, many are trying to calculate whether this airdrop will follow in the footsteps of the recent $HYPE success. Here’s what we know so far—and what might influence the airdrop’s worth.

Breakpoint Demo Insights

During a live demo, a wallet with 89,700 diamonds claimed 16,044 $ME. This equates to a conversion rate of roughly 5.59 diamonds per $ME. Based on this, and assuming a total $ME pool of 125M, a projected diamond supply could hover around 698M. However, given continued diamond accumulation, the total may surpass this.

Magic Ticket Analysis

Magic tickets, a key source of diamonds, were exchanged at a rate of 500 diamonds per ticket. Ticket values ranged between $50 and $150, implying a diamond worth of $0.10–$0.30 if $ME is valued at $1. This suggests a potential diamond supply ranging from 416M to 1.25B.

Discord Hint

A Magic Eden team member’s remark dismissing a speculative diamond supply of 17B as “a lot less” points to a likely supply in the hundreds of millions to low billions—aligning with the demo’s estimate of ~700M diamonds.

• Conservative Estimates: A 6:1 or 10:1 conversion rate (~750M–1.25B diamonds) is plausible.

• Neutral Zone: A 15:1 rate (~1.875B diamonds) balances scarcity with fairness.

• High Supply: A 20:1 or 40:1 rate risks oversaturation, potentially devaluing allocations.

At a pre-market price of $4 per $ME, the fully diluted valuation (FDV) could reach $3.99B, rewarding Bitcoin and Solana users who’ve been the most active.

Is it done there though? The price of $ME has only steadily risen on pre-market platforms, and with just over a week until the day of the drop itself, there’s still plenty of potential for things to go higher…providing we get no negative sentiment on the allocation checker day.

Top Stories | Bito Highlights Bitmap in Latest Feature

After Saturday’s mention of Bito spotlighting AI Agents, Senor Ordileone recently turned the attention onto Bitmap, showcasing its transformative role in the decentralized Metaverse. Bitmap, which assigns Bitcoin blocks as ownable Metaverse assets, offers a unique framework for building interoperable and decentralized digital spaces.

Bito's feature emphasized Bitmap's potential to redefine digital ownership and empower developers to create new applications (“Bapps”) within this Bitcoin-backed ecosystem. It’s a glimpse into how Bitcoin's legacy could reshape the Metaverse landscape, and you can read it in full below.

Top Stories | TRAC Validator Round 5 Goes Live

TRAC’s Validator Round 5 has officially gone live, marking another opportunity for people to join its decentralized data processing network. Here’s a quick breakdown of what validators do, how they earn rewards, and why they matter:

What Are TRAC Validators?

• Validators play a critical role in TRAC’s ecosystem by indexing and validating blockchain data, making it accessible for developers.

• They operate “nodes,” which process and authenticate decentralized data.

How Validators Earn

• Phase 1: Validators earn $TAP tokens initially.

• Phase 2: $TRAC 2.0, launching in Q1 2025, becomes the primary gas token and reward asset.

• Phase 3: Ecosystem participants like dApps and protocols can offer additional tokens to incentivize validators.

Key Benefits

• Multi-Subsidy Model: Validators can earn multiple tokens simultaneously.

• Scalability: Unlike traditional blockchains, TRAC avoids congestion, allowing limitless rewards from diverse sources.

• Tradable Assets: Validator licenses and nodes are NFTs, which can be traded or sold.

Validator licenses are limited—Round 5 offers just 300 with 97 snapped up so far.

Daily Bites

Todays Markets

Ordinals

Based Angels emerge as the biggest winners of the day, climbing an impressive 16% since yesterday’s update.

While other collections showed smaller floor price gains, overall market volume looks promising, with green across the board—except for Runestone, which saw a sharp 11.4% decline.

The gap between Puppets and NodeMonkes widened again after a brief recovery for the Monkes yesterday.

Quantum Cats, often considered the "art stablecoin" of Ordinals (though recently less so), is nearing the critical 0.2 BTC range, where it has historically spent much of its existence. When QC dips below this level, it’s often viewed as a troubling sign, but a return above it could signal brighter days ahead.

Elsewhere, there isn’t much movement of note. Bitcoin Frogs remain steady at the 0.034 BTC range, RSIC continues to see volume, and Bitmap holds firm.

Runes

Once again, Runes aren’t capturing the same momentum as Ordinals. Many anticipated a pump for Runes (which, to be fair, has occurred to some extent), with profits flowing into Ordinals markets (again, arguably true).

But is that all? Surely not. This feels like the early stages of a much larger cycle. There’s plenty of fuel left in the tank.

Marx Fren Monke leads the Rune market in volume today. The AI x Memecoin project humorously chronicles the misadventures of a "martian monke who discovered crypto trading and hasn’t made a profitable trade since."

In the bottom half of the top 10, it’s a sea of red. Cypher and Gizmo, both fresh off hot runs, are naturally experiencing some cooling off.

Shrek Is Love, created by Runetoshi, clings to its spot on the charts but suffers a hefty 20% drop, as traders offload their free bags for the price of a ham sandwich.

Todays Opportunities

Minting This Week

There are currently no more mints taking place this week, but check back tomorrow for what’s next so you don’t miss out.

Giveaways

Here are todays giveaways 👇️ 

• MonDog - Ends Today at 18:04 UTC

• Raskalz - Ends Today at 22:09 UTC

More giveaways are expected soon, so join the Discord below and make sure you have notifications on so you don’t miss out when the next ones go live!