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Wallet-as-a-service (WaaS) provider

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Magic is a wallet-as-a-service provider that helps businesses onboard users into web3 with instant non-custodial wallet creation. It uses email or social logins, while removing the need for seed phrases and browser extensions - making it indistinguishable from standard web2 experiences that everyday users are accustomed to. Magic offers features for end-to-end web3 onboarding including authentication, fiat onramps, NFT Minting and NFT Checkout.

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Analysis: Shiba Inu Whale Holds 103 Trillion SHIB Unmoved for 5 Years, $10,000 Investment Once Valued at $50 Billion

According to Odaily, blockchain analytics platform Bubblemaps has disclosed that a mysterious whale address cluster within the Shiba Inu (SHIB) ecosystem has held approximately 103 trillion SHIB since 2020. The entity initially spent just 38 ETH (roughly $10,000 at the time) to build the position, which once peaked at an unrealized valuation exceeding $50 billion, marking one of the most astonishing investment cases in crypto market history.Bubblemaps' tracking reveals that the whale initially purchased 103 trillion SHIB through the wallet address 0x1406, accounting for about 10% of the circulating supply at the time. As the SHIB price surged, the position's value once reached approximately $5 billion. Currently, the address cluster's holdings are still valued at over $2.5 billion, representing a cumulative return of more than 21,000 times.To reduce exposure risk, the whale split the assets across 14 addresses in November 2021. In January 2023, Bubblemaps first disclosed this SHIB whale cluster, which then controlled about 10% of the SHIB supply, valued at over $1 billion, sparking community discussions about high concentration of holdings by a single entity.Subsequently, the address cluster underwent continuous address migration and splitting. In September 2023, Bubblemaps found that its holdings had spread from a few prominent wallets to many new addresses, a typical tactic to reduce on-chain visibility. Using its Magic Nodes tool, Bubblemaps was still able to identify the connections between these wallets.During the SHIB price surge in early 2024, the whale's position value exceeded $2 billion again, with the number of wallets expanding to over 170 addresses. As of now, the cluster still controls approximately 8.51% of the SHIB circulating supply, a decrease from the initial 10% ratio. However, Bubblemaps notes that this is primarily due to normal on-chain transfers, with no signs of large-scale selling detected.Bubblemaps points out that this case highlights the significant value of on-chain transparency tools: an entity can conceal massive holdings by splitting wallets, but all fund transfers leave public on-chain records. This SHIB whale case has also become a typical example for observing "whale behavior, holding concentration, and on-chain tracking" within the crypto market.

Hornets Star Ball Not Suspended, Probability of "Magic Advancing to NBA Playoffs" on Polymarket Drops to 39%, Down 30% in 24H

Odaily Seer Channel monitoring shows that the probability of "Magic advancing to the NBA playoffs" on Polymarket has dropped to 39%, down 30% in 24 hours. Yesterday, the Magic lost to the 76ers with a score of 97 to 109 and will compete with the Hornets tomorrow morning at 7:30 for the final Eastern Conference playoff spot. Additionally, Hornets star LaMelo Ball was fined $35,000 for pulling Adebayo during the game against the Heat and was assessed a Flagrant Foul 2, but did not receive a suspension. Furthermore, Ball was fined $25,000 for using profanity in a post-game interview, resulting in a total fine of $60,000.Odaily Seer Channel continues to monitor prediction markets, seeing changes before they are priced in.

Analysis: Shiba Inu Whale Holds 103 Trillion SHIB Unmoved for 5 Years, $10,000 Investment Once Valued at $50 Billion

According to Odaily, blockchain analytics platform Bubblemaps has disclosed that a mysterious whale address cluster within the Shiba Inu (SHIB) ecosystem has held approximately 103 trillion SHIB since 2020. The entity initially spent just 38 ETH (roughly $10,000 at the time) to build the position, which once peaked at an unrealized valuation exceeding $50 billion, marking one of the most astonishing investment cases in crypto market history.Bubblemaps' tracking reveals that the whale initially purchased 103 trillion SHIB through the wallet address 0x1406, accounting for about 10% of the circulating supply at the time. As the SHIB price surged, the position's value once reached approximately $5 billion. Currently, the address cluster's holdings are still valued at over $2.5 billion, representing a cumulative return of more than 21,000 times.To reduce exposure risk, the whale split the assets across 14 addresses in November 2021. In January 2023, Bubblemaps first disclosed this SHIB whale cluster, which then controlled about 10% of the SHIB supply, valued at over $1 billion, sparking community discussions about high concentration of holdings by a single entity.Subsequently, the address cluster underwent continuous address migration and splitting. In September 2023, Bubblemaps found that its holdings had spread from a few prominent wallets to many new addresses, a typical tactic to reduce on-chain visibility. Using its Magic Nodes tool, Bubblemaps was still able to identify the connections between these wallets.During the SHIB price surge in early 2024, the whale's position value exceeded $2 billion again, with the number of wallets expanding to over 170 addresses. As of now, the cluster still controls approximately 8.51% of the SHIB circulating supply, a decrease from the initial 10% ratio. However, Bubblemaps notes that this is primarily due to normal on-chain transfers, with no signs of large-scale selling detected.Bubblemaps points out that this case highlights the significant value of on-chain transparency tools: an entity can conceal massive holdings by splitting wallets, but all fund transfers leave public on-chain records. This SHIB whale case has also become a typical example for observing "whale behavior, holding concentration, and on-chain tracking" within the crypto market.

Related news

Kraken Parent Company Payward Acquires Magic Labs Embedded Wallet Business

According to The Block, Magic Labs has sold its embedded wallet business to Payward, the parent company of cryptocurrency exchange Kraken, in an asset sale.

Analysis: Shiba Inu Whale Holds 103 Trillion SHIB Unmoved for 5 Years, $10,000 Investment Once Valued at $50 Billion

According to Odaily, blockchain analytics platform Bubblemaps has disclosed that a mysterious whale address cluster within the Shiba Inu (SHIB) ecosystem has held approximately 103 trillion SHIB since 2020. The entity initially spent just 38 ETH (roughly $10,000 at the time) to build the position, which once peaked at an unrealized valuation exceeding $50 billion, marking one of the most astonishing investment cases in crypto market history.Bubblemaps' tracking reveals that the whale initially purchased 103 trillion SHIB through the wallet address 0x1406, accounting for about 10% of the circulating supply at the time. As the SHIB price surged, the position's value once reached approximately $5 billion. Currently, the address cluster's holdings are still valued at over $2.5 billion, representing a cumulative return of more than 21,000 times.To reduce exposure risk, the whale split the assets across 14 addresses in November 2021. In January 2023, Bubblemaps first disclosed this SHIB whale cluster, which then controlled about 10% of the SHIB supply, valued at over $1 billion, sparking community discussions about high concentration of holdings by a single entity.Subsequently, the address cluster underwent continuous address migration and splitting. In September 2023, Bubblemaps found that its holdings had spread from a few prominent wallets to many new addresses, a typical tactic to reduce on-chain visibility. Using its Magic Nodes tool, Bubblemaps was still able to identify the connections between these wallets.During the SHIB price surge in early 2024, the whale's position value exceeded $2 billion again, with the number of wallets expanding to over 170 addresses. As of now, the cluster still controls approximately 8.51% of the SHIB circulating supply, a decrease from the initial 10% ratio. However, Bubblemaps notes that this is primarily due to normal on-chain transfers, with no signs of large-scale selling detected.Bubblemaps points out that this case highlights the significant value of on-chain transparency tools: an entity can conceal massive holdings by splitting wallets, but all fund transfers leave public on-chain records. This SHIB whale case has also become a typical example for observing "whale behavior, holding concentration, and on-chain tracking" within the crypto market.

Magic Eden and several executives hit with class action lawsuit, accused of misleading promotion of ME token

Odaily News A class action lawsuit against Magic Eden was accepted by the U.S. District Court for the Eastern District of New York on June 16. Plaintiffs Jaime Pagan, Ariel Ruano, and Chris Sadowski allege that Magic Eden and its executives made false statements when promoting the ME token, marketing it as a "pillar of a growing online asset marketplace" while failing to deliver on those promises, causing significant financial losses to investors. The defendants include Magic Eden co-founders Jack Lu, Zhuoxun Yin, Sidney Zhang, and Zhuojie Zhou, as well as the operating entity Euclid Labs Inc., the ME Foundation, and others. The case has been officially filed.

Account with over $3M in losses purchases $270K on Pistons -3.5 to beat Magic in NBA East 1st Round Game 4

Odaily Seer Prophecy Channel monitoring reports that in the Polymarket "NBA East 1st Round G4 Pistons vs. Magic" prediction event, an account with over $3M in losses (0x492442eab586f242b53bda933fd5de859c8a3782) purchased approximately $270K on the Pistons -3.5 to beat the Magic, with an average opening price of 49.5¢. The current price is 50.5¢, resulting in an unrealized profit of about $3,800.In the NBA East 1st Round series, the Pistons and Magic are currently tied 2-1, with the Magic leading. Game 4 will tip off today at 8:00 AM Beijing time. The Pistons' starting lineup is Ausar, Harris, Duren, Robinson, and Cunningham; the Magic's starting lineup is Wagner Jr., Banchero, Carter, Bane, and Suggs.Odaily Seer Prophecy Channel continues to monitor prediction markets, spotting changes before prices are set.

Hornets Star Ball Not Suspended, Probability of "Magic Advancing to NBA Playoffs" on Polymarket Drops to 39%, Down 30% in 24H

Odaily Seer Channel monitoring shows that the probability of "Magic advancing to the NBA playoffs" on Polymarket has dropped to 39%, down 30% in 24 hours. Yesterday, the Magic lost to the 76ers with a score of 97 to 109 and will compete with the Hornets tomorrow morning at 7:30 for the final Eastern Conference playoff spot. Additionally, Hornets star LaMelo Ball was fined $35,000 for pulling Adebayo during the game against the Heat and was assessed a Flagrant Foul 2, but did not receive a suspension. Furthermore, Ball was fined $25,000 for using profanity in a post-game interview, resulting in a total fine of $60,000.Odaily Seer Channel continues to monitor prediction markets, seeing changes before they are priced in.

Account with over $2 million in profit purchases $490,000 on Magic defeating 76ers in NBA Play-In Tournament

Odaily Seer Channel monitoring shows that in the Polymarket prediction event "NBA Play-In Tournament: Magic vs. 76ers," an account with over $2 million in profit (address: 0xbddf61af533ff524d27154e589d2d7a81510c684) purchased a total of $490,000 on the Magic defeating the 76ers, with an average opening price of 49.9¢.The NBA Play-In Tournament game between the Magic and the 76ers started at 7:30 AM Beijing Time today. The winner of this game will face the Celtics in the first round of the playoffs, while the loser will compete with the Hornets for the final playoff spot in the Eastern Conference.Odaily Seer Channel continues to monitor prediction markets, seeing changes before they are priced in.