Binance on December 10th announced that it will list trading pair was Magic Eden’s ME token. According to the official statement, Binance will list Magic Eden (ME) and begin trading for the following spot trading pairs: ME/BTC, ME/USDT, ME/FDUSD, and ME/TRY are the new spot trading pairs.
The trading pair comes as the $ME token has been gaining immense popularity among investors. This hype saw the token surging in pre-market trading, hitting the $6 mark.
Binance Lists $ME Token
Magic Eden’s (ME) listing on Binance will be followed by trading for the following spot trading pairs: ME/BTC, ME/USDT, ME/FDUSD, and ME/TRY. In order to get ready for trading, users can now begin depositing ME in their wallets.
Additionally, the listing Fee for ME has been kept as 0 BNB by Binance. The token will be traded under the SEED Tag.
Coins that are typically in their early stages of development and may not yet have a functional product or a user base are categorized under the Seed Tag.
Binance employs these tags to assist users in making better decisions when purchasing cryptocurrencies, particularly those that have just been developed or listed.
$ME Token Gets OKX Green Light
Amid the rise in popularity for $ME, OKX has also jumped on the bandwagon previously. For the Magic Eden (ME) token, OKX declared that it will list a USDT spot trading pair.
Just like Binance, on December 10th, $ME/USDT will be listed and traded on the exchange.
Why Is Magic Eden Popular?
Magic Eden has gained a lot of popularity as an NFT location at the same time that the $ME token has been listed on multiple exchanges. It has become the Solana blockchain’s most popular NFT marketplace.
Developed as a competitor marketplace that could be used as a foundation for NFT collections on SOL, Magic Eden was introduced on September 17, 2021.
The platform’s emphasis on community, the variety of tokens that can be generated and collected on the platform, and the ease of use of its tools are three features that investors typically seek out and are highly commended.
At a valuation of $1.6 billion in June 2022, Magic Eden raised $130 million. This is obviously a huge achievement for any startup, let alone one in the blockchain industry. Additionally, the increase was even more impressive given that cryptocurrency and NFTs had been on the decline for the majority of 2022.