Magic Eden (ME)

$ME may be one of the worst launches of the past cycle. 1- Magic Eden launched their token at 10B FDV with the typical High FDV / Low Float trap. Obv, the market started to price unlocks at launch. 2- Magic Eden generated $180M in revenue in 2024. (Not even sure the figure is correct, may be lower). At 10B, ME was trading at a 54x P/S ratio, so the upside was already very limited. 3- ME TGE was at the end of 2024, NFT winter was already around. Even last-round VCs are at a loss: they're still vested and they invested at $1B FDV.

From almost $10bn FDV to only $100M now in a bit more than one year $ME There's a deep problem in the altcoin market https://t.co/AGNQ0u0Y5k

$ME should have never been given to Ordibros

1 million $ME tokens bought back. Excited to see this number continue to go up. Excited to continue to work on building out the $ME ecosystem over time. https://t.co/HpPMqens1t

Lukewarm take. $ME and @MagicEden should have never airdropped to the Ordibrokes and instead used those fistfuls of allo to keep Ordinals alive (and marketmade/wash traded) for 6 more months. https://t.co/QlfY9Odai5

major token unlocks today $B3 - 901.94M ($321K) $ME - 10.92M ($1.23M) $HOME - 132.34M ($2.98M) $LINEA - 1.02B ($3.27M) which one is the most interesting to you? https://t.co/qRnmmXfazH

Hey @MagicEden 🟧 The only thing we’d love to see is the “UNSTAKE $ME ” button❗️ You tricked people into staking their tokens with a promise of token airdrop rewards for staking power and marketplace activity only to completely change the rules a few months later❗️ Then you decided to shutdown Ordinals marketplace, together with EVMs, without even a simple thank you post by @MEonBTC… And on top of that you paid some lowlife KOLs to fud ecosystem that helped your company survive, grow and raise hundreds of millions of dollars in funding❗️ Truelly Digusting behavior‼️ But wait, there’s more… Now you’re launching separate project so you can avoid sharing revenue⁉️ That’s just criminal ❗️

According to his nickname