MAGIC Surges Against the Trend by 26%: Nigeria's 'Mystical Power' Boosts It, Can Buying in Now Lead to Wealth?
Retail investors in Nigeria become the core drivers of the surge. As the global market fell into a slump in August, a large amount of capital flowed against the trend into MAGIC, pushing its price up 26% to $0.18 within 24 hours, with strength balance indicators showing the market is dominated by real buying. The country's fiat inflation rate exceeds 30%, prompting the public to prefer low-priced tokens like MAGIC that have GameFi concepts to avoid risk.
Dual empowerment of technology and ecology. The PoS mechanism optimizes and enhances transaction efficiency, reduces Gas fees, and effectively addresses payment pain points in chain games; through partnerships with leading platforms, over 230 DApps have been integrated, creating a funding pool of $860 million; the mainnet plans to launch zero-knowledge proofs, and the institutional holding ratio has increased to 41%.
Changes in supply-demand dynamics raise value. Staking reduces circulating tokens, and TVL (Total Value Locked) continues to rise; under the deflationary mechanism, the annualized burn rate is high, and a buyback mechanism is in place; premiums are appearing on Nigerian exchanges, attracting arbitrage capital.
Operational suggestions: Current prices allow for light long positions, targeting around $0.27.
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