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$ME price fell below $6 USDT, possibly due to its complicated Airdrop process and security risks.
gate News: According to CoinDesk, as more and more claimants successfully receive Airdrops, the valuation of $ME has started to plummet significantly, and its unconventional claiming process has sparked widespread controversy in the industry. Security expert Ogle pointed out that Magic Eden Wallet stores users' Private Key and mnemonic phrase backups in the application with no clear way to delete the information, posing serious security risks.
Gate.io data shows that the price of $ME has fallen more than 70% from its peak, with the current price at $5.77, a market capitalization of $750.38M, and 24-hour trading volume of $479.91M.