Magic Eden (ME)

GM 🟧 MagicEden might be cooked! Revenue is down over 80% this month❗️May was their worst month, since shutting down Ordinals market, by far. 📉 In April $ME stakers received over $52k in rewards, this month it’s less than $9.5k Token price is down almost 30% from $0.11 to $0.08 ⚠️ Magic Eden uses 7.5% of their monthly Net Marketplace Revenue for staking rewards (May revenue: $126.3k) 🎰 Looks like they’re focusing on their new gambling site Dicey and they have no plans to include its revenue as part of ME staking rewards. They’re currently giving away $35k weekly rewards to Dicey users… 👀 ❌ Guess they were tired of me asking why Dicey revenue isn’t part of ME rewards, so they blocked me 😁 💰 Now go claim your 10 cents for staking ME tokens that were once worth $10k, I just collected mine 😂

Altcoins with good volume right now: $ME $GRASS $ZETA $CROSS $NEAR

2,000,000 $ME tokens bought back. - 124 days to hit 1,000,000 - Another 51 days to hit 2,000,000 The buyback program, alongside the USDC rewards to stakers, will double some time in Q3. https://t.co/YwQSHAP2iK

true https://t.co/o8kHYbUOa0

GM 💰 If you’re wondering why monthly @MagicEden payouts to $ME stakers are so low, it’s because they don’t include @DiceyHQ revenue 🚨 ❗️Basically, they used the money that they’ve made from fees on ME platform to launch a new company in order to avoid sharing their revenue with people who trusted them and staked their ME tokens ‼️ They even have the same employees, some of them work for both ME and Dicey… 🚨 This is a well know extraction tactic that many companies, not only in crypto, use to circumvent existing arrangements in order to avoid sharing profit ⚠️ Let’s not forget that the initial deal was for people who staked ME tokens to be rewarded with more ME tokens, not with USDC from shared revenue 🚩 They keep changing the rules, yet they refuse to let people UNSTAKE their tokens!! If tokens cannot be unstaked, because of the way token contract was launched, then they should airdrop ME tokens, from their own supply in 1:1 ratio, so that people could move on too Oh I almost forgot, to make their payout look better, they started adding 3 digits for cents 😂 Who even does that? Who’s their accountant? Ridiculous.

bro this chart is actually insane 😭 $ME really went from “next big infra play” to straight exit liquidity in one cycle 🚩 launched with hype, dumped into oblivion, and now they’re quietly pulling back features like nothing happened… classic playbook down ~99% and people still talking about “long term vision” like bro the vision already left the chart this market will humble anyone trying to marry altcoins take profits or become the story others learn from ngl selling early feels like a superpower in cycles like this