The token testing an upcoming airdrop on Solana-powered NFT marketplace Magic Eden has a market capitalization of $6.2 million, according to DEX Screener.
As a test token, TestME will help Magic Eden check the overall flow as users claim ME, the platform’s future ecosystem and utility token. TestME tokens are tradable on Meteora, a decentralized exchange where users add liquidity and exchange it for SOL and USDC. And USDT. On DEX Screener, TestME’s value hit $0.006576 as of 11:27 ET (15:27 UTC) on October 30.
TestME is the official currency of Magic Eden and its multi-million dollar market capitalization may suggest high user interest in ME’s final release. To claim TestME, users must download the ME app, verify their eligibility by scanning a QR code, link their wallet, and finally accept the token.
Magic Eden announced that it would introduce ME in August of this year. Consumers can use the tokens on the Magic Eden platform and can also use them on third-party protocols, The Block previously reported.
The Block has reached out to Magic Eden representatives for comment.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.