Multichain NFT Market Magic Eden Daily Volume Spikes to $60 Million

According to data from The Block, the multi-chain NFT marketplace Magic Eden has seen a spike in daily transaction volume, from $1 million to $30 million, with a recent peak of $60 million. The data also shows that Magic Eden accounts for 80 percent of all bitcoin ordinals and runes traded. The surge is said to coincide with Magic Eden's announcement of the upcoming launch of its utility token, ME, which is being developed by the ME Foundation, the details of which have yet to be disclosed.