ME Surges 18.8% as Institutional Crypto Inflows and Market Momentum Drive Price Rally

The asset is currently priced at 1.011, up 18.80% from a 24-hour open of 0.851, reflecting strong upward momentum and increased trading activity. The significant price increase in the past 24 hours can be attributed to heightened institutional inflows into major crypto ETFs, notably BlackRock’s Bitcoin ETF, which saw a $58 million daily inflow, as well as positive technical signals such as Bitcoin’s golden cross and increased network activity. Additional contributing factors include the announcement of a collaboration between Magic Eden and the TRUMP memecoin project to develop the TRUMP crypto wallet, which has generated notable market attention. Broader risk-on sentiment in both crypto and equity markets, along with positive performance in related stocks and increased accumulation by large Bitcoin holders, has further supported the upward price movement.