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crypto.news 2025-06-16 15:43:11

Here’s why MAGIC price ripped 40% higher

Here’s why MAGIC price ripped 40% higher

MAGIC’s 40% surge in 24 hours has stunned traders, with Treasure DAO’s AI agent rollout driving fresh demand. As the backbone of a growing NFT gaming ecosystem, the token’s rally might just be getting started. According to CoinMarketCap data, Treasure ( MAGIC ), the utility token powering the Treasure Metaverse, surged over 40% on June 16, rocketing past key resistance levels as traders piled into the Arbitrum-based gaming asset. The MAGIC price shot from a daily low of $0.112 to highs of $0.179 on Monday afternoon (Asian time) before paring some gains to trade at $0.15 at the time of writing. The token holds a market cap of $47.54 million, with a circulating supply of 306.99 million MAGIC out of a total 347.68 million. You might also like: Can Hyperliquid rise to $50 in June? Why is MAGIC price pumping? The recent MAGIC price explosion followed a major announcement from Treasure DAO introducing autonomous AI agents designed to enhance user experience across Gigaverse and its NFT-driven gaming ecosystem. The announcement, posted on Treasure’s official X account on June 12, appears to have reignited bullish momentum for the token, which had been consolidating for days below the $0.11 resistance level. We’re proud to be a featured team bringing AI agents into @playgigaverse on @AbstractChain ✳️ Fishing is coming soon for NFT AI agents powered by Treasure 🎣 Create your agent, play Gigaverse, and earn autonomously👇 https://t.co/T8t8sMrX1N pic.twitter.com/MB04GgfrPb — Treasure (@Treasure_DAO) June 12, 2025 Another key catalyst likely fueling MAGIC’s rally was Treasure DAO’s June 14 update , which revealed the launch of an “Emotion System” for its NFT AI agents. These agents can now express dynamic emotional states—such as happiness, sadness, or anger—directly within the in-game chat interface, adding a human-like layer of interaction that deepens player immersion. The update also included beta access for Gigaverse fishing and new support for the Under Haul Dungeon, signaling that the Treasure ecosystem isn’t just evolving, it’s shipping fast. For market watchers, that means MAGIC isn’t just reacting to hype. The token is gaining momentum from real ecosystem expansion, deeper utility, and an evolving use case that could set the tone for future GameFi infrastructure. Despite the recent rally, MAGIC is still trading 97.55% below its all-time high of $6.32, set in February 2022. However, it has rebounded an impressive 139% from its April 2025 low of $0.06488, signaling a potential trend reversal as interest in AI-enhanced GameFi reignites. For traders, this presents both opportunity and caution: while the AI-driven momentum and expanding utility signal renewed confidence, MAGIC’s deep bear market discount means volatility will remain extreme. If Treasure DAO continues delivering on its roadmap—blending AI, gaming, and decentralized finance, MAGIC’s price could carve out a sustainable recovery. But in a market still skeptical of metaverse tokens, the path forward will hinge on real adoption, not just hype. For now, one thing is clear: MAGIC is back on the radar. Read more: Sky Protocol price rises as key metric tumbles to a 5-year low

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