Magic Eden Buyback Program Adjustment: Monthly Budget Limited to $20,000, NFT Market Momentum Needs Boosting

ZkSnarker · 2026-01-19T15:44:11+00:00

Magic Eden's NFT trading volume in the past 30 days was $12.8 million, accounting for 9.1% of the market, but its revenue was only $267,000. The ME token is currently priced at $0.253, with a market capitalization of $108 million. The platform plans to allocate 15% of its monthly revenue to ecosystem development, but the scale of buybacks and staking rewards is limited, and whether it can attract more users remains to be seen.

ZkSnarker

2026-01-19 15:44:11

Abstract generation in progress

【BlockBeats】According to the latest data, Magic Eden’s NFT trading volume over the past 30 days reached $12.8 million, accounting for 9.1% of the entire NFT trading market. However, from the revenue perspective, the platform’s income during the same period was only $267,000, with the Solana chain contributing 74% of the revenue and the Bitcoin network accounting for 25%.

Regarding the ME token, the current price is $0.253, with a total market capitalization of $108 million. The fully diluted valuation (FDV) is $253 million. The 24-hour trading volume is approximately $110 million, indicating that the token liquidity remains relatively active.

From the perspective of ecosystem development, an interesting data point has emerged. Magic Eden announced that starting February 1, it will allocate 15% of its platform revenue each month to the ME ecosystem—50% of which will be used for open market repurchases of ME tokens, and the other 50% will be distributed to token holders who stake USDC in proportion to their staking weight. Based on the current monthly revenue of $267,000, this 15% allocation amounts to only about $2,000 per month, with even less allocated for repurchases.

This means that, without a significant increase in NFT market trading volume, the scale of ecosystem buybacks and staking rewards will be quite limited. Whether this policy can attract more users to participate in staking and trading remains to be seen in future market performance.

ME-2.41%

SOL-0.23%

BTC-1.04%

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OvertimeSquid

· 13h ago

Trading volume of 12.8 million, but revenue is only 270,000? That gap is huge. Can someone explain this math problem?

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WalletDetective

· 13h ago

Trading volume is so large, yet only 270,000 in revenue? That's surreal. --- Sol占74%比特币才25%，这逻辑有点绷 --- Monthly buyback of $20,000 is really a bit stingy. --- What’s the point of active liquidity? Who’s trading with such low volume? --- 9.1% market share sounds good, but the numbers make it awkward when compared. --- FDV is only 250 million? That’s quite a gamble. --- Me token at this price is already pretty good to have lasted until now. --- Just having trading volume without revenue, this platform’s business model hasn’t been figured out yet.

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RamenDeFiSurvivor

· 13h ago

Trading volume looks pretty solid, but only $267,000 in revenue? That gap is a bit outrageous. ME token liquidity is active, which is good, but it seems like no one really believes in it. The buyback has a monthly budget of only $20,000—are you serious... NFTs are really dead right now; no matter how hard Magic Eden tries, it's pointless. Solana accounting for 74% of revenue is a bit exaggerated, indicating that the ecosystem still relies on SOL to support it.

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