Publicly categorized under "NFT Marketplace" (Smart-Contract Token). Self-reported / public protocol description: "The largest NFT marketplace and Runes platform. Buy, sell and discover Ordinals and NFTs across Solana, Bitcoin, Ethereum, Base, ApeChain, Abstract, Berachain, Monad Testnet, Arbitrum, Sei, BNB Chain, and Polygon."
Calculate what 1 ME would mathematically equal if Magic Eden's circulating market cap ($8.35M) matched a benchmark asset or target valuation at constant supply (1.00B ME).
| Benchmark Target | Target Market Cap | Implied ME Price | Supply-Adjusted Ratio |
|---|---|---|---|
| Wrapped Bitcoin (WBTC) — Web3 & Ecosystem #1 Leader | $9.33B | $9.3316 | 1117.77x (+111677.2%) |
| Tether (USDT) — Solana (SPL) Leader | $182.47B | $182.4714 | 21857.04x (+2185603.6%) |
| Rank #100 Benchmark (Jupiter Staked SOL) | $664.18M | $0.66418 | 79.56x (+7855.8%) |
| Rank #50 Large-Cap Benchmark (Ondo) | $1.98B | $1.9809 | 237.28x (+23628.1%) |
| Rank #10 Mega-Cap Benchmark (Zcash) | $19.55B | $19.5545 | 2342.31x (+234130.7%) |
| $1.00 Billion Milestone Market Cap | $1.00B | $1.00 | 119.78x (+11878.3%) |
| $10.00 Billion Milestone Market Cap | $10.00B | $10.00 | 1197.83x (+119683.3%) |
| Ethereum (ETH) Market Cap (#2) | $286.09B | $286.0938 | 34269.27x (+3426826.7%) |
| Bitcoin (BTC) Market Cap (#1) | $1.62T | $1,618.29 | 193844.05x (+19384304.6%) |
Formula: Implied Price = Target Market Cap ÷ Current Circulating Supply. For mathematical comparison only.
Compares Magic Eden's circulating float against its total/maximum protocol supply.
Recorded ATH for Magic Eden is $5.4425 (currently -98.85% from ATH).
| ATH Milestone | Milestone Price | Math % Change Needed | Implied Market Cap |
|---|---|---|---|
| 25% of Historical ATH | $1.3606 | +2073.1% | $1.36B |
| 50% of Historical ATH | $2.7212 | +4246.1% | $2.72B |
| 75% of Historical ATH | $4.0819 | +6419.2% | $4.08B |
| 100% of Historical ATH | $5.4425 | +8592.2% | $5.44B |
As of the latest public snapshot, Magic Eden (ME) holds a circulating market capitalization of $8.35M at a reference price of $0.06261, ranking #858 out of the Top 1,000 cryptocurrencies tracked on ChainPulse Studio.
Magic Eden is indexed in public API registries under: Solana (SPL), Arbitrum L2, Base L2, Ethereum (ERC-20). Publicly categorized under "NFT Marketplace" (Smart-Contract Token). Self-reported / public protocol description: "The largest NFT marketplace and Runes platform. Buy, sell and discover Ordinals and NFTs across Solana, Bitcoin, Ethereum, Base, ApeChain, Abstract, Berachain, Monad Testnet, Arbitrum, Sei, BNB Chain, and Polygon."
Magic Eden has a reported circulating supply of 1.00B ME and a maximum protocol supply of 1.00B ME, resulting in an implied Fully Diluted Valuation (FDV) of $62.61M (100.0% circulating float).
Based on circulating-supply division (Target Market Cap ÷ Circulating Supply), if ME reached Wrapped Bitcoin’s market cap of $9.33B, 1 ME would mathematically equal $9.3316 (1117.77x current market cap).
Magic Eden recorded a historical All-Time High of $5.4425 and currently trades -98.85% from that peak. Returning to 100% of its historical ATH would mathematically require a +8592.2% change from current reference levels.
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