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Magic Eden gets annoyed with obvious NFTs as Solana (SOL) surges 18% by DailyCoin


Magic Eden gets annoyed with obvious NFTs as Solana (SOL) gains 18%
  • Magic Eden recently announced a new Game Director and launched a new loyalty program.
  • Cryptocurrency enthusiasts were perplexed yesterday when they saw inappropriate photos instead of some NFT thumbnails.
  • (SOL) has overcome the difficulties of the crypto winter caused by developers switching to other blockchains.

The most popular NFT marketplace based on the Solana blockchain (SOL) left a lot of NFT enthusiasts with gasps on Monday. Magic Eden somehow displayed a series of erotic images instead of NFT thumbnails. Naturally, the incident worried the audience, as many crypto enthusiasts questioned Magic Eden’s behavior on Twitter, asking if the largest SOL NFT market had been hacked.

Magic Eden apologized for the problem on Twitter, explaining that a third-party service provider was causing the problem. On top of that, Magic Eden completely denies hacking allegations and reassures NFT enthusiasts that their digital assets are safe. If the problem persists, one should “hard refresh” the browser to fix it, Magic Eden advises.

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Solana is struggling – Top Gainer of the day

Despite being brutalized by the bears during the harsh crypto winter, Solana’s crypto managed to regain double digits after days in the red. Indeed, the Magic Eden NFT thumbnail issue generated significant mentions on social media. At the same time, the newly created memecoin Bonk (BONK) picked up Solana two days before the 17th-ranked altcoin was dropping slightly below the $10 support line.

At press time, Solana is valued at $13.47, according to CoinGecko. Besides skyrocketing 18% over the past 24 hours, it also hit a monthly high of $14.07 today. However, the troubles for SOL may not be over yet. Technical analysts forecast another downward spiral in its market price.

In the past, the strong bearish trend that emerged immediately after the FTX liquidity crisis caused Solana to bottom out. After a protracted price drop, SOL has dropped to just a market cap of $3 billion on December 30, 2022. Several crypto influencers are ready to bury the SOL being encountered. difficult because there are many bearish signals at the end of 2022.

Ultimately, the $3 billion market cap is just a drop in the ocean compared to the $52.2 billion market at the beginning of 2022. The market cap that the popular altcoin achieved during its inception. This is partly due to the fact that Solana’s blockchain has attracted many institutional investors. Having suffered the most from the recent crypto crisis, SOL still has a large community. It was recently praised by famous programmer Vitalik Buterin.

On Flipside

  • Popular NFT projects DeGods and y00ts have left the Solana blockchain (SOL) in exchange for (ETH).
  • Builders are also exploring other options, as evidenced by the declining trading volume.
  • Solana has a red rate of 92.1% annually and is close to hitting an all-time high set a year ago.

Why should you care?

Magic Eden is the largest NFT marketplace on Solana’s blockchain. Overall, Magic Eden is just behind the leading NFT marketplace, OpenSea.

Find out the latest altcoin news:

(ADA) Founder Charles Hoskinson Uses Other People’s NFTs as Profile Picture

Cardano (ADA) Overtakes Ethereum (ETH) to Become the Most Active Protocol in 2022

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