Magic Eden's last round of financing was valued at $1.6 billion, and the large amount of financing given by the institution further proves the market's recognition of Magic Eden's potential. The project's publicized large-scale financing time is 2022, when the market is in a bear market. Getting a large amount of financing at this point in time reflects the institution's direct affirmation of Magic Eden's current operating conditions and future growth potential. This not only enhances the market's confidence in Magic Eden to a certain extent and increases its valuation, but also shows that investment institutions have sufficient confidence in the odds of their investment.