Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnAISquareMore
Magic Eden's new buyback policy may only allow for about $20,000 worth of ME tokens to be repurchased monthly

Magic Eden's new buyback policy may only allow for about $20,000 worth of ME tokens to be repurchased monthly

BlockBeatsBlockBeats2026/01/19 15:46
Show original

BlockBeats News, January 19, according to nftpulse data, Magic Eden's trading volume in the past 30 days was $12.8 million, accounting for 9.1% of the NFT trading market share. The platform's 30-day revenue was only $267,000, with Solana chain trading revenue accounting for 74% and Bitcoin network trading revenue accounting for 25%.


According to CoinGecko data, the current price of Magic Eden's platform token is $0.253, with a token market cap of $108 million, FDV reaching $253 million, and a 24-hour trading volume of $110 million.


If the NFT market trading activity remains at its current level, and based on Magic Eden's "15% revenue invested into the ME ecosystem" strategy that will go live on February 1, this policy would only allow for about $20,000 per month to be spent on ME buybacks.


As previously reported by BlockBeats, Magic Eden announced that starting February 1, 15% of its revenue will be directly invested into the ME token ecosystem. This portion of the revenue will be evenly split, with 50% used to buy back ME tokens on the open market and 50% distributed to ME stakers in USDC according to staking weight.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!

You may also like

Qatar Energy chief refutes Besent: The Strait of Hormuz will never be "worthless"

Qatar's Minister of Energy, Saad Al Kaabi, stated that US Treasury Secretary Scott Besent's claim that the Strait of Hormuz will become "worthless" within two years is "incorrect."

智通财经2026/09/20 23:01