This is a major milestone as Magic Eden’s native token ME will be listed by leading crypto exchanges Binance, Upbit and Bithumb on Dec. 10. The token, which plays a key role in governance, staking, and user rewards within the platform, will be available for trading and withdrawals starting at 15:Upbit and Bithumb at 14:00 UTC, Binance at 00 UTC.
Binance, the world’s largest crypto exchange by trading volume, announced it will offer trading support for the ME token in several pairs: ME/BTC, ME/USDT, ME/FDUSD and ME/TRY. Users will be able to deposit ME tokens prior to launch, a warning has been issued by Binance to investors who use the token, as use is more risky, as it is new.
Binance Adds “Seed Tag” for ME Token as Upbit and Bithumb Prepare to List
This overall effect will mean that Binance will put a “seed tag” on the ME token, and will only allow trading of the token if users go through a quiz on Binance Spot and Margin platforms and agree to its terms of use every 90 days.As of 10 December, ME token will also be listed on trading pairs trading on Upbit and Bithumb in South Korea.
And that is that ME will be supported on Upbit by ME/KRW, ME/BTC, and ME/USDT pairs, with deposits and withdrawals on that Solana network. However you will still need to go through a personal ownership verification process before you can deposit your ME. They also warned that deposits deposited via linked wallets may be subject to a return process according to the asset’s network.
Meanwhile, ME is being listed on Bithumb, which means ME would only exist in ME/KRW pairings priced at around 2,286 Korean won (~$1.59). Bithumb has yet to reveal when the trading will start, only saying when the liquidity is secured the trading will start from beginning.
Rolling out in 2021, Magic Eden has been a bit of a roller coaster of the success and failure in the NFT market. Once dominant Solana NFT sales began to fall with its 2023 market dominance gone. It will come into the NFT ecosystem through the introduction of the ME Token.
