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The Defiant 2024-12-27 23:10:09

Magic Eden’s Token Rallies As Trading Volume Rebounds to Highest Since August

Magic Eden’s Token Rallies As Trading Volume Rebounds to Highest Since August

Solana-based NFT marketplace Magic Eden's native token (ME) rallied as trading activity climbed to the highest since August. ME surpassed $4 on Dec. 27 to reach a market capitalization of $527 million, climbing 2.6% in the past 24 hours and 28% over the past week, to the highest since Dec. 14, according to CoinGecko. This performance contrasted with the broader cryptocurrency market, which is down 1.8% over the last 24 hours and down 3.2% over the past week at the time of publishing. In December, the platform recorded $124 million in trading volume across all chains, so far, a 65% increase compared to the $75 million recorded in November, and the highest since August, according to data compiled by Dune Analytics. Volume is down 67% in the past seven days, from the previous week, according to Dune . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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