Binance, the largest cryptocurrency exchange in terms of daily trading volume, came up with a new announcement today. According to the exchange’s statement, Ethereum-based altcoin transactions have stopped due to Magic’s transition to the Arbitrum One network. Here are the details…
Binance announced for MAGIC
Binance has stopped depositing Magic (MAGIC) over the Ethereum network as the Magic (MAGIC) project team has moved their operations entirely to the Arbitrum One network. Magic’s (MAGIC) withdrawals over the Ethereum network will be stopped as of 5 January 2023, 05.00 Turkish time.
In other words, Magic (MAGIC) tokens made over the Ethereum network will no longer be deposited into users’ accounts. From this, Magic (MAGIC) trading will not be affected. Likewise, Magic (MAGIC) deposits and withdrawals made through the Arbitrum One network will not be affected.
More about MAGIC
cryptocoin.com As we have also reported, MAGIC is the cryptocurrency of a game. Treasure is a decentralized video game console that connects games and communities through routed IP and infrastructure, combined with a common set of combinable resources. The foundation of the Treasure ecosystem, MAGIC is a launch token that powers the underlying infrastructure.
According to some experts, this project has emerged not only as the leading GameFi project in the promising Arbitrum network, but also as the leading NFT market for this network. Treasure will act as a hub for GameFi projects on the Arbitrum network. According to some, the project token MAGIC could become one of the most used cryptocurrencies on the platform.
At the time of writing, MAGIC is changing hands at $0.5082, up 1.65%. The cryptocurrency has managed to break out from the $0.49 level on a daily basis to this point. Meanwhile, it is worth noting that the coin recorded its highest level of $6.32 on February 19, 2022. The coin has since lost 91 percent of its value.
