Magic Eden (ME), co-developer of 'Trump Wallet', surges over 30% on Trump-themed rally

JH Kim

Summary

Magic Eden (ME) reportedly surged over 30% following the news of the development of Trump Wallet.
The development of a crypto wallet and trading application featuring President Trump's branding has sparked investor expectations.
In the future, the wallet is expected to offer digital asset management and integration with Trump-related tokens and NFTs.

Magic Eden (Magic Eden, ME), the NFT marketplace and co-developer of the official crypto wallet 'Trump Wallet' featuring the branding of President Trump, is experiencing a sharp short-term surge.

As of 02:36 on the 4th, Magic Eden is trading at $1.075 on the Binance Tether (USDT) market, up 30.78% from the previous day.

This rapid rise appears to have been driven by news that President Trump will personally launch a wallet and trading application with his own branding, fueling investor expectations.

The wallet is being jointly developed by Magic Eden and the meme coin purchase website GetTrumpMeme, which sells 'Official Trump (TRUMP)', and is currently in its early stages. It is expected to offer features such as self-custody, digital asset management, and integration of Trump-related tokens and NFTs in the future.

Previously, Walter Bloomberg reported that President Trump was preparing to release a crypto wallet and trading app under his official brand, and after this news, there has been significant buying activity in related sectors.