ME token faces sharp decline: Magic Eden’s ME token launched on Binance and OKX Futures, only to face a swift downturn. The token’s initial soaring market capitalization of 1.6 billion USD tumbled significantly to approximately 586 million USD within the first hour post-listing.
Trouble in token allocation: The mechanical issues in the allocation and claiming process for the ME token caused community concerns. Magic Eden had to address these challenges promptly after they were pointed out by community members following the volatile market debut.