• Nansen provided detailed evaluation on MAGIC efficiency in current instances.
• Early MAGIC miners represent a good portion of the token holders within the community.
• Not all Bear Market MAGIC Accumulators can boast of revenue with the present MAGIC value.

Nansen, the blockchain analytic device that gives perception into cryptocurrencies, DeFi, and NFT has offered details about the current efficiency of MAGIC, the native token of the blockchain gaming protocol, Treasure DAO. In a Twitter thread, Nansen offered particulars concerning the actions of some whale addresses within the Treasure DAO ecosystem.

In line with Nansen, there are over 350,000 distinctive addresses holding MAGIC, the cryptocurrency which was listed on Binance on December 12, 2022. The analytic platform additionally revealed that early MAGIC miners signify a good portion of the massive token holders within the gaming community. The early MAGIC miners embody the highest 200 stakers of MAGIC within the Genesis Pool between October 6, 2021, to January 6, 2022.

The knowledge launched by Nansen exhibits that 10 of the early MAGIC miners are among the many prime 1,000 MAGIC holders. They fall among the many longest holders, or stakers of the gaming token within the Treasure DAO community.

An vital indicator reported by Nansen is the “Bear Market MAGIC Accumulator”. This indicator gives element on the addresses which have had a minimal of 200,000 MAGIC tokens between June 17, 2022, and January 9, 2023. Amongst these addresses is one which Nansen recognized to have amassed MAGIC tokens since December 16, 2022, when the worth of MAGIC was roughly $0.58. The Nansen evaluation exhibits that the recognized tackle presently sits on over $2 million unrealized revenue.

Within the thread, Nansen clarified that not all Bear Market MAGIC Accumulators can boast of revenue with the present MAGIC value. One of many addresses famous by the platform purchased 151,781 MAGIC tokens at $0.33. The identical tackle was observed to have additionally offered some tokens at $0.27. One other accumulator suspected to be associated to BTC12 Capital purchased and offered a major quantity of MAGIC inside 5 days.

In line with Nansen, the MAGIC evaluation it offered was a traditional mannequin of learn how to perform due diligence on an Arbitrum token.