Eden

Daily

In a significant gust of recent developments, Magic Eden, a renowned decentralized NFT marketplace, garnered noteworthy attention across the global digital assets realm as the sales recorded on the platform hit $50 million, per a post shared by the company’s CEO and co-founder, Jack Lu. This monumental achievement for Magic Eden soon piqued the interest of <a href="https://coingape.com/glossary/nft-non-fungible-token/" target="_blank" rel="noopener noreferrer nofollow">NFT</a> traders and investors globally as the number of sales registered underscores the community’s optimism orbiting the potential revival of the NFT realm.
Amidst the high wave of optimism portrayed by the community, rides another phenomenal event marking the sale of $16 million worth of an NFT, CryptoPunk 3100. Sold for a whopping 4,500 ETH recently, this appears to be curating an optimistic ripple effect, birthing speculations over NFTs’ potential comeback amid this year’s crypto market bull run.
<h2 id="magic-eden-mirrors-nft-optimism">Magic Eden Mirrors NFT Optimism</h2>
According to the post shared by Jack Lu, the platform’s recent scaling of the $50 million sales mark mirrors high hopes for the global NFT community as it showcases the gradual yet significant growth witnessed by NFTs over the past few years. This marks a noteworthy event for the digital assets landscape as the NFT market soon witnessed a remarkable slump following its inception.
Concerning this, Jack Lu stated that all great technologies start off looking like toys but eventually grow into revolutionary tech that changes the world.
Meanwhile, in his social media post, Lu spotlighted Tiexo’s (an NFT data analytics platform) top marketplaces list, drawing attention to Magic Eden topping the list with 47.64% market share, evaluated as $52.24 million.
While the platform retained its positioning as of press time, its market share dropped to 34.15%, fueling speculations over future shifts.
Notably, Tiexo’s list also sheds light on the second-largest CryptoPunk sale recorded, mirroring the optimism orbiting this burgeoning NFT adoption saga.
Also Read: <a href="https://coingape.com/cardano-ada-price-gearing-for-2000-gains-to-10-as-per-historical-chart/" target="_blank" rel="noopener noreferrer nofollow">Cardano (ADA) Price Gearing for 2000% Gains to $10 As Per Historical Chart</a>
<h2 id="cryptopunk-sale-diving-deep">CryptoPunk Sale: Diving Deep</h2>
According to <a rel="noopener noreferrer nofollow" href="https://etherscan.io/address/0x70587661c804c72bba25ecddd8d17b332c984017" target="_blank">Etherscan’s data</a>, the address …C984017 bought Punk 3100 for 4,500 ETH yesterday, March 4, nabbing significant attention. This marks the second-largest sale of the blue-chip NFT collection, as Punk 3100 is one of nine rare bluish alien punks.
Upon further investigation, it was found that the same address bought two other crypto punks for 4,250 each over the past few days. This propelled immense optimism throughout the global NFT community as it hinted at potential chances of revival amid the upcoming crypto market bull run, with NFT bulls entering the arena once again.
Also Read: <a href="https://coingape.com/us-sec-files-coinbase-insider-case-as-supplemental-authority-in-binance-suit/" target="_blank" rel="noopener noreferrer nofollow">US SEC Files Coinbase Insider Case as Supplemental Authority in Binance Suit</a>
The post <a href="https://coingape.com/nft-bulls-back-in-game-magic-eden-hits-50-mln-daily-sales/" rel="noopener noreferrer nofollow">NFT Bulls Back In Game As Magic Eden Hits $50 Mln Daily Sales</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

NFT Bulls Back In Game As Magic Eden Hits $50 Mln Daily Sales

Table of Contents

Coingape News Media

Other articles published on Mar 5, 2024

Top 10 Meme Coins for Potential 100X Returns in 2024

$SHIB & $WIF Pump 60% as Short-Sellers Get Rekt; $GFOX Could 300X on Retail Debut

'BONK Killer' MILLI Leaves Dogecoin, Shiba Inu In The Dust, Surging Over 70% In A Single Day

Arizona Senate Proposes Integration of Bitcoin ETFs into Retirement Funds

The Ethereum Foundation Is Selling ETH Again, Is The Top In?

Fantom Foundation Pursues $112M Asset Recovery in Multichain Exploit Case

Join our free newsletter for daily crypto updates!