Magic Eden's new buyback policy may only be able to repurchase around $20,000 worth of ME tokens monthly.

Jan 19 — Per NFT Pulse data, Magic Eden’s 30-day trading volume reached $12.8 million, accounting for 9.1% of the NFT market share. The platform’s 30-day revenue totaled just $267,000, with 74% from Solana chain transactions and 25% from Bitcoin network activity. CoinGecko figures show Magic Eden’s native ME token is currently priced at $0.253, with a market cap of $108 million, a fully diluted valuation of $253 million, and 24-hour trading volume of $110 million. If NFT market transaction momentum remains unchanged, Magic Eden’s upcoming strategy (launching Feb 1) — investing 15% of revenue into the ME ecosystem — will allocate roughly $20,000 monthly to ME token repurchases. As previously reported by BlockBeats, Magic Eden announced that starting Feb 1, 15% of its revenue will go directly to the ME token ecosystem. The funds will be split evenly: 50% used to repurchase ME on the open market, and 50% distributed as USDC to ME stakers based on staking weights.