A token testing a forthcoming airdrop from the Solana-based NFT marketplace Magic Eden has amassed a market capitalization of $6.2 million, according to DEX Screener.
The test token, TestME, helps Magic Eden check the overall flow for when users claim ME, the platform's future ecosystem and utility token. The TestME token is tradable on the decentralized exchange Meteora, where users added liquidity and swapped it with SOL, USDC and USDT. TestME's value on DEX Screener hit $0.006576 as of 11:27 ET (15:27 UTC) on Oct. 30.
TestME is an official currency from Magic Eden, and its millions in market capitalization could suggest high user interest in ME's eventual launch. To claim TestME, users must download the ME App, check their eligibility via scanning a QR code, link their wallet and finally accept the tokens.
Magic Eden announced in August of this year that it will adopt ME. Consumers can use the token on the Magic Eden platform, with possible usage on third-party protocols as well, The Block previously reported.
The Block reached out to a Magic Eden representative for comment.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
