Todays Top Stories

Editor: @PhoenixxDown

What’s Next for Magic Eden?

The vibes on $ME have left a lot to be desired as of late, especially after the high-energy bullishness that preceded airdrop day back in December. The market conditions from that point onward—up until about 12 hours ago—hasn’t helped matters.

Stripping it down to the basics, however, nothing has really changed: stake your $ME, use the platform as you normally would, collect points, and receive a portion of the unclaimed $ME at the end of the period.

Jack Lu, CEO of Magic Eden, recently spoke alongside CPO Zedd and $ME maxi Peddy in an hour-long discussion about the token and the company’s future plans.

However, as another $ME maxi, DEJE, rightly points out, the attention span of market participants in this space is typically frightful, and many may not watch the video in its entirety.

To address this, DEJE helpfully shared a TL;DW thread breaking down all the key points.

Topics covered in the thread include:

• Passive staking: For those of you who have staked but are not trying to “farm” points, or aren’t interested in trading at present.

• $ME distribution: The dynamics of how the unclaimed $ME will be distributed. Those with a higher staking power will want to take note of this.

• Unlock schedule for unclaimed $ME: Insights into how much will be unlocked and when.

• Newly announced staking bonuses: Potentially another reason to stake $ME.

• Perks from products and protocols: This is an interesting one. This section outlines what’s in store, and DEJE has a nice write-up on this section.

• Referral bonuses: A notable incentive for onboarding new users.

• Opportunities for content creators: Ways for creators to earn $ME through participation.

• Maintaining your rank: Information about the weighting of trading activity compared to simply logging in once per week.

• Magic Eden’s vision: Their goal of supporting “All chains. All assets. All communities.”

• Thoughts on competition: Insights into Magic Eden’s take on rivals like OpenSea.

The $ME ecosystem is still evolving, and for those willing to stay engaged, the opportunity is there. As Magic Eden builds on its foundation, active participants are best positioned to benefit.

Get the full details from DEJE in the thread below:

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Todays Markets

Catch up with Landy in yesterdays Wednesday Check-In:

Ordinals

Quantum Cats saw a wave of delistings after Udi’s cryptic X post (featured in today’s Top Posts section), and their floor price holds steady amidst a sea of red across the top 10.

With just 24 hours remaining on Rocktoshi’s countdown, speculation about NodeMonkes’ involvement in the mystery seems nonexistent. Could that all change tomorrow as the clock hits zero?

Nothing too staggering to report today, but Unsanctioned Wizards rose by 33% in anticipation of the second phase of their mint on Sunday.

Going the other way, Bitcoin Frugs lost 22% of their value but manage to hold just above 0.001.

Runes

Not much activity here to report as the market pump finds its footing, but things are looking a lot better than this time last week.

$DOG, still absent from any Tier 1 CEXs, holds confidently above a $500 million market cap. $RSIC takes second place for volume but remains stuck under 2 sats.

A similar story plays out for $PUPS and $BDC, both still far below their all-time highs. However, there’s some good news: orderbooks remain thin. At last check, only 3 BTC is needed to push BDC back to around 70 sats. This trend of thin orderbooks is common across most of the top Runes that haven’t disappeared into obscurity.

Decentralized is back in the top 10 today, taking sixth place in volume. This Rune, the first CTO of a Rune, owes its survival to a team that has done a great job keeping it alive. There’s still hope yet for the second-ever inscribed Rune.

But what about $FEHU, the first-ever inscribed Rune? Barely seen in the top 10 in recent months, does it ever come back? Who was behind it? Will we ever find out? Share your thoughts with us.

Todays Opportunities

Giveaways

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