Reading the numbers from Magic Eden's airdrop: "Minimum guarantee" worth 272 USD, with the largest address receiving over 1.28 million USD in tokens
The wave of sharing on Movement has not yet ended, and the airdrop from Magic Eden is following closely behind.
Author: Frank, PANews
The wave of sharing from Movement has not yet ended, and the airdrop from Magic Eden is following closely behind.
On December 10, the cross-chain NFT marketplace Magic Eden, which raised $130 million, announced its TGE and launched an airdrop event for users to claim the ME token. Many yield farming studios shared their results on social media, indicating that this is another high-return project this year. However, due to the lack of detailed data on the ME token airdrop in the market, PANews conducted a data analysis of Magic Eden's airdrop program, analyzing the 125,000 addresses that have claimed tokens to assess the value of the Magic Eden airdrop.
Low-income accounts can claim up to $272
As of December 11 at 14:00, a total of 92.26 million ME tokens have been claimed, with over 73.8% of the tokens already claimed. Overall, the scale of the claimed airdrop from Magic Eden is approximately $738 million.
The most common addresses are those with fewer than 100 tokens, with 45,936 addresses claiming less than 100 tokens. The minimum number of tokens that can be claimed is 34, which, at a maximum price of $8, amounts to $272. There are 6,917 addresses that claimed 34 ME tokens, accounting for about 5.5%, while the remaining 94.5% of addresses claimed amounts higher than this. From this perspective, the ME airdrop can be considered a significant benefit.
The second-largest group of addresses claimed between 101 and 500 tokens, totaling 43,182 addresses. Addresses claiming fewer than 2,000 tokens account for 91.8% of the claimed addresses. On average, each address claimed 735.8 tokens, worth approximately $5,886.
Among the claimed addresses, there are 664 addresses with earnings exceeding $100,000. There are 7 addresses that claimed more than 100,000 tokens, with the highest single address claiming 160,037 tokens, which, at a maximum price of $8, yields over $1.28 million.
Who is the king of airdrops: Magic Eden, Movement, or Hyperliquid?
Recently, several airdrop projects have concentrated their TGE, making yield farming players the envy of the industry once again. Comparing several recent airdrop projects, 98.5% of addresses in Movement's claimed airdrop received more than 100 tokens, valued at over $100. Hyperliquid has about 43.4% of claims above 100 tokens, valued at over $1,000. Magic Eden has about 94.5% of addresses claiming more than 34 tokens, valued at over $272.
Comparing the highest single address claims, Hyperliquid's maximum single address claim exceeds $9.56 million, Movement's maximum single address claim is about $500,000, and Magic Eden's maximum single address claim is about $1.28 million, falling between the other two.
From the above data, Hyperliquid has the highest profit per single address, and the average profit is also higher. However, from an inclusive perspective, Magic Eden's distribution effect is better.
Significant price differences across platforms after token launch
After the ME token launch, there were significant price differences between decentralized exchanges and centralized exchanges. On DEXs like Meteora and Raydium, the price of ME surged to $13 each, and on the morning of December 11, the price on Meteora briefly rose to $9.9. In contrast, the highest price on mainstream centralized exchanges like Binance was $8. The main reason for this price discrepancy is the different launch times of the ME token across exchanges. Meteora launched ME as early as December 10 at 22:00, while Binance's opening price was at 23:00. Additionally, the trading depth between exchanges may also be a major factor contributing to this price difference. Among the addresses holding ME tokens, Binance and OKX remain the largest exchanges.
The MOVE token, issued the previous day, also experienced significant price discrepancies across exchanges. Being the first to list tokens has become the primary principle for exchanges regarding star airdrop projects.
Returning to the fundamental information of Magic Eden, according to data from nftpulse, Magic Eden is currently leading the NFT trading market comprehensively, with over 1.5 million active users in the past year. Its trading revenue exceeds $60.3 million, more than three times that of the second-place OpenSea. However, in terms of trading volume, Magic Eden still lags behind Blur, with a market share of about 19.5%.
However, as an NFT trading market primarily focused on runes, Magic Eden's main transactions are still concentrated in the rune sector, which is significantly different from the main business directions of OpenSea and Blur. From the perspective of trading revenue, Magic Eden's annual income of $60 million ranks it around the 30th position among DeFi protocols, roughly on par with Avalanche's fees, and even surpassing Phantom and Arbitrum. From this perspective, if the rune market can experience a resurgence, Magic Eden still has considerable growth potential.
All specific data here for readers' reference.
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.
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