Magic Eden Gets Nasty With Explicit NFTs As Solana (SOL) Shoots Up 18% With DailyCoin

• Magic Eden recently announced the new Chief Gaming Officer and rolled out the new loyalty program.
• Crypto enthusiasts were confused yesterday, seeing inappropriate images instead of some NFT thumbnails.
• (SOL) has sailed through the difficulties of crypto winter due to developers switching to other blockchains.

The most popular NFT marketplace based on Solana’s (SOL) blockchain left many NFT enthusiasts open-mouthed on Monday. Magic Eden somehow displayed a bunch of pornographic images instead of NFT thumbnails. Naturally, the incident worried the public, as many crypto enthusiasts questioned Magic Eden’s behavior on Twitter, asking if the largest SOL NFT marketplace had just been hacked.

Magic Eden apologized for the mishap on Twitter, explaining that a third-party service provider caused the problem. On top of that, Magic Eden completely denied the hacking allegations and assured the NFT enthusiasts that their digital assets were safe. If the problem persists, one should “do a hard update” on the browser to fix it, advises Magic Eden.

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Hi guys our image provider, a third party service we use to cache images, was compromised. Your NFTs are safe and Magic Eden has not been hacked. Unfortunately, you may have seen some creepy pictures. Make sure you do a hard update on your browser to fix it.

— Magic Eden (@MagicEden) January 3, 2023

Struggling Solana – Today’s best winner

Despite being mercilessly kicked around by the brutal bears of the harsh crypto winter, Solana’s cryptocurrency managed to regain double digits after several days in the red. In fact, the Magic Eden NFT thumbnail event generated significant social mentions. Meanwhile, newly minted memecoin Bonk (BONK) took on Solana two days ago as the 17th-ranked altcoin dipped slightly below the $10 support line.

At press time, Solana is valued at $13.47, according to CoinGecko. In addition to skyrocketing by 18% in the last 24 hours, today it also managed to hit its monthly high of $14.07. However, problems for SOL may not be over yet. Technical analysts predict another downward spiral in the market price.

I exited $SOL for 70% profit A great start to the year Thanks for playing #binance pic.twitter.com/gcCzDHE8bh

— The Wolf Of Crypto Streets (@W0LF0FCRYPT0) January 4, 2023

Earlier, the strong bearish trend that emerged right after the FTX liquidity crisis led Solana to the bottom. After a prolonged decline, SOL fell to a mere $3 billion market cap on December 30, 2022. Several crypto influencers were ready to bury the controversial SOL alive as there were more bearish signals by the end of 2022.

Ultimately, the $3 billion market cap is just a drop in the ocean compared to the $52.2 billion market at the beginning of 2022. The market cap that the popular altcoin achieved during its successful period was partly because Solana’s blockchain attracted many institutional investors. Having suffered the most from the recent crypto crisis, SOL still has a large community. It was recently praised by renowned programmer Vitalik Buterin.

Hate it or love it, Solana needs Web2 enterprise/institutional adoption more than ever. Good technology alone cannot increase liquidity (or TVL). It is necessary to build a suite of tools, which help the integration of Solana dApps Web2 enterprises along with aggressive BD.

— Yash Agarwal (@yashhsm) December 28, 2022

On the other side

• Popular NFT projects DeGods and y00ts left Solana’s (SOL) blockchain for (ETH).
• Developers are also exploring other options, as evidenced by the declining transaction volume.
• Solana is 92.1% in the red annually and is close to reclaiming the record set a year ago.

Why you should care

Magic Eden is the largest NFT marketplace on Solana’s blockchain. Overall, Magic Eden trails only the leading NFT marketplace, OpenSea.

Dive into the latest altcoin news:

(ADA) Founder Charles Hoskinson uses someone else’s NFT as a profile picture

Cardano (ADA) overtakes Ethereum (ETH) as protocol with most development activity in 2022

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