OKX announced that it will list a USDT spot trading pair for the Magic Eden (ME) token. The listing will take place on December 10th and will see $ME/USDT get listed and traded on the exchange.
The news has kept the $ME token investors in an upbeat mood, giving a push to its price.
According to data, the coin’s price has surged over 300% in the past 24 hours.
Additionally, the coin’s market cap currently stands at $63.97 million. At the press time, $ME is trading at $0.06131 token
Why Is $ME Ecosystem Famous?
The OKX listing for the $ME token comes at a time when Magic Eden has become extremely popular as a NFT place. It has emerged as the most well-known NFT marketplace on the Solana blockchain.
Magic Eden was developed as a rival marketplace that could serve as a base for NFT collections on SOL and was launched on September 17, 2021.
Three features of the platform, which investors usually look for and are widely praised are the ease of use of its tools, its emphasis on community, and the variety of tokens that can be generated and gathered on the platform.
Magic Eden raised $130 million at a $1.6 billion valuation in June 2022. Needless to say, this is a significant accomplishment for any startup, much less one in the blockchain space. And considering that NFTs and cryptocurrency had been declining for most of 2022, the increase was all the more remarkable.
OKX Lists Multiple Tokens Amid Expansion For Users
The listing for Magic Eden comes at a time when OKX has been expanding its offering continuously, Previously the platform has announced the listing of the MAJOR token.
Another new listing for the platform was The MORPHO token. Additionally, the platform has also seen a rise in listing for meme token and pairs given the popularity and demand in market that these token possess.
Additionally, to offer improved trading and custody services, cryptocurrency exchange OKX signed agreements with Forteus and Komainu, based in Dubai in a three-way contract. The contract, which was signed on November 27th, involves three major parties, the cryptocurrency exchange and on-chain technology supplier OKX with diversified digital asset management firm Forteus and regulated digital asset custody service provider Komainu.
As a result of this collaboration, Komainu will have independent custody of its assets, while Forteus will have 24/7 trading access on the OKX platform.
At the conclusion of the contract, Komainu will offer qualified custody services and cold storage for assets held on Forteus’ behalf.