Economy

MAGIC Crypto Nearly Doubles as Treasure Readies Its AI Network

On Binance, most MAGIC trading on the 9th of October 2026 was in futures. On the 5th of October 2026, Treasure said its network launch was coming.

In the game 'smol', a pixelated pink brain is positioned centrally on a dark, starry background with purple and yellow pixel shapes surrounding it, accompanied by the text 'MAGIC NEARLY DOUBLES' at the bottom.
Nyx Databorne
By Nyx Databorne, News Host, Author, Analyst
Published on October 16, 2026 · 5 min read
$YGG-2.19%$ETH-1.56%

MAGIC rose 67.7% between the 8th and the 15th of October 2026, from $0.06477 to $0.1086. It rose 90.8% between the 8th and the 9th of October 2026 alone. MAGIC is the token of the Treasure project. Most of the trading on the 9th of October 2026 was in futures on the crypto exchange Binance. A future lets a trader bet on MAGIC’s price without owning any MAGIC. Binance’s MAGIC futures traded $316.0 million that day, and its spot market traded $33.6 million. [1] Treasure posted nothing on X between the 6th and the 11th of October 2026. [2] [15] On the 5th of October 2026, it said it was preparing to launch the Treasure Network. AI agents would run on that network. [3]

Daily closes for MAGIC over the 30 days to the 15th of October 2026.
MAGIC: daily closes: data table
DateMAGIC
2026-09-160.0414
2026-09-170.0433
2026-09-180.0453
2026-09-190.0462
2026-09-200.0472
2026-09-210.0495
2026-09-220.0506
2026-09-230.0488
2026-09-240.0497
2026-09-250.0506
2026-09-260.0509
2026-09-270.0551
2026-09-280.0519
2026-09-290.0514
2026-09-300.0529
2026-10-010.0554
2026-10-020.0579
2026-10-030.0575
2026-10-040.0612
2026-10-050.0627
2026-10-060.0672
2026-10-070.0650
2026-10-080.0648
2026-10-090.1236
2026-10-100.0997
2026-10-110.1293
2026-10-120.1207
2026-10-130.1242
2026-10-140.1076
2026-10-150.1086

How the move traded

Open interest is the value of futures bets still open at a given time. Binance’s open interest in MAGIC futures was $3.9 million at 04:00 UTC on the 9th of October 2026. That figure was $26.0 million at 04:00 UTC on the 10th of October 2026. [4] The long/short account ratio on Binance compares accounts betting on a rise with accounts betting on a fall. On the 9th of October 2026, the MAGIC long/short account ratio was 1.51 at 04:00 UTC. At 04:00 UTC on the 10th of October 2026, it was 0.61. [5]

What Treasure said before the move

On the 18th of September 2026, Treasure posted on X that MAGIC would not die. A comeback was coming. [6] On the 29th of September 2026, it posted a video saying the 2021 vision was finished. The original 2021 vision was being checked. [7] On the 2nd of October 2026, it posted that it was entering what it called “the end game”. [8] On the 5th of October 2026, it said the community would pay for the agents in USDC. [3]

Performance

In the three months to the 15th of October 2026, the token rose 156.2%. The wider gaming market fell 3.5% over the same window.

  • The token rose 0.9% on the 15th of October 2026.
  • That day it ranked 113th of the 179 gaming tokens that gained.
  • It trades 98% below its all-time high, set in February 2022. The wider gaming market is 94% below its own.
  • Our wash-trading model rated MAGIC’s trading “many” on the 15th of October 2026, the third of its four risk bands. It flagged MAGIC on 8 of the 27 days it scored.
MAGIC against Gaming Token Index – Composite over the 92 days to the 15th of October 2026.
MAGIC and Gaming Token Index – Composite, day by day: data table
DateMAGICGaming Token Index – Composite
2026-07-16100.0100.0
2026-07-1799.497.4
2026-07-1898.996.1
2026-07-1998.396.3
2026-07-20100.097.2
2026-07-21102.099.2
2026-07-22101.598.1
2026-07-2398.7100.7
2026-07-24100.7101.7
2026-07-25101.2103.6
2026-07-26100.8105.2
2026-07-2798.299.0
2026-07-2896.2101.7
2026-07-2991.0102.4
2026-07-3095.8103.4
2026-07-3197.4105.9
2026-08-0198.3107.4
2026-08-0299.299.9
2026-08-0398.897.5
2026-08-0495.493.2
2026-08-0596.094.7
2026-08-0697.892.8
2026-08-0797.294.1
2026-08-08101.0100.7
2026-08-0998.4108.9
2026-08-1098.690.2
2026-08-1195.185.4
2026-08-1294.086.3
2026-08-1393.683.6
2026-08-1496.581.1
2026-08-1597.178.3
2026-08-1697.478.4
2026-08-1795.677.4
2026-08-1894.276.2
2026-08-1998.678.5
2026-08-20101.582.1
2026-08-21108.488.0
2026-08-22108.087.8
2026-08-23108.087.8
2026-08-24105.286.9
2026-08-25106.085.3
2026-08-26105.485.2
2026-08-27108.587.2
2026-08-28106.486.1
2026-08-29109.186.4
2026-08-30111.686.2
2026-08-31107.485.0
2026-09-01105.184.7
2026-09-02101.384.7
2026-09-03106.087.8
2026-09-04106.385.9
2026-09-05109.387.6
2026-09-06110.387.7
2026-09-07109.888.8
2026-09-08108.888.8
2026-09-09108.187.6
2026-09-10102.884.3
2026-09-11102.085.0
2026-09-12103.985.8
2026-09-13106.787.0
2026-09-14105.487.4
2026-09-1599.283.7
2026-09-1697.683.1
2026-09-17102.186.1
2026-09-18106.990.8
2026-09-19108.892.5
2026-09-20111.391.8
2026-09-21116.797.4
2026-09-22119.499.0
2026-09-23115.096.6
2026-09-24117.298.9
2026-09-25119.2101.9
2026-09-26120.1102.4
2026-09-27130.0103.8
2026-09-28122.499.1
2026-09-29121.2100.5
2026-09-30124.896.9
2026-10-01130.698.6
2026-10-02136.5103.8
2026-10-03135.6107.4
2026-10-04144.2110.1
2026-10-05147.8110.1
2026-10-06158.4107.7
2026-10-07153.2104.7
2026-10-08152.8101.2
2026-10-09291.5103.2
2026-10-10235.0105.2
2026-10-11305.0105.4
2026-10-12284.6102.6
2026-10-13292.8100.5
2026-10-14253.996.5
2026-10-15256.296.5
How far the token and Gaming Token Index – Composite moved over each window, to the 15th of October 2026.
MAGIC against Gaming Token Index – Composite: data table
WindowMAGICGaming Token Index – Composite
1 year-24.97%-69.51%
6 months+70.03%-16.95%
3 months+156.23%-3.55%
1 month+158.22%+15.18%
MAGIC on the day, beside the gaming tokens that moved most in the same direction rather than the ones closest to it.
MAGIC against the biggest movers in its group: data table
TokenReturn
MAGIC+0.9%
PYR+140.5%
SWEAT+41.7%
DEAD+35.5%
OIK+23.3%
MYRIA+17.8%

What the token actually does

The image shows two pixelated monkey characters with hairstyles standing side by side against a background of purple 'E's and a red square with a smiling face.
The image shows two pixelated monkey characters with hairstyles standing side by side against a background of purple ‘E’s and a red square with a smiling face.

MAGIC is the token of Treasure.

Agents use MAGIC to pay for computing power and blockchain services. Users who beta tested the early blockchain games could earn MAGIC. Holders have used MAGIC to vote on how new tokens are released and on upgrades. The project’s linked app, smol, is an AI companion app in a small alpha. On the 2nd of October 2026, Treasure said MAGIC “becomes a governance-less natural resource”, so holders would no longer vote with it. [8]

How Treasure is tied to gaming

Treasure began in 2021 with its own onchain games. It later published other studios’ games. On the 17th of April 2025, holders voted to shift the focus away from game publishing back to native projects. That vote said the game publishing stack would be retired in its entirety. [9] On the 30th of August 2025, holders voted to discontinue the Bridgeworld project and Canopy 2.0 game. [10] On the 18th of October 2025, holders voted to sunset the Magicswap and Treasure Marketplace front ends. That vote reaffirmed the DAO’s focus on AI-powered entertainment, NFTs, and Smolworld. [11]

What people are saying

Journalists

Tokenpost, a crypto news site, covered the move on the 10th of October 2026. It measured MAGIC over the 24 hours before its report, so its figure is higher than the article’s. Its $53 million market value is also higher than the close-of-day value in the jrpg.com price data. It said other gaming tokens rose at the same time, including PIXEL and YGG. GameFi is the crypto industry’s name for games that have their own tokens. [12]

MAGIC led a broad GameFi token rally with a gain of more than 134% over 24 hours, lifting its market capitalization to $53 million on Oct. 10. [12]

Tokenpost (Enna Lee), the 10th of October 2026

More on the story

A vote that closed on the 2nd of March 2026 set a rule to buy and burn MAGIC with fees from Treasure’s apps. Burning means removing tokens from circulation. Revenue from the apps would be converted into MAGIC and burnt the month after it is earned. No burn would happen if the DAO’s easy-to-sell reserves, in USDC or ETH, cover less than 18 months of costs. The vote said the DAO’s monthly operating costs would not be included in the burn. Burns from one of the apps, AI Frens Solana, would be reported in quarterly reports. [13]

In a vote that closed the same day, Treasure’s holders also approved a $20 million valuation for Spellguard. Spellguard is a product for businesses. It helps them build AI on large cloud computing services. The DAO would fund the startup and take a 10% stake in the parent company. The proposal warned that venture-style equity investment can end in a total loss. [14]

References

  1. ↑ (Binance (public market data), the 9th of October 2026) Source
  2. ↑ (Treasure on X, the 6th of October 2026) Source
  3. ↑ (Treasure on X, the 5th of October 2026) Source
  4. ↑ (Binance (public market data), the 10th of October 2026) Source
  5. ↑ (Binance (public market data), the 10th of October 2026) Source
  6. ↑ (Treasure on X, the 18th of September 2026) Source
  7. ↑ (Treasure on X, the 29th of September 2026) Source
  8. ↑ (Treasure on X, the 2nd of October 2026) Source
  9. ↑ (Treasure’s holders, in a governance vote, the 17th of April 2025) Source
  10. ↑ (Treasure’s holders, in a governance vote, the 30th of August 2025) Source
  11. ↑ (Treasure’s holders, in a governance vote, the 18th of October 2025) Source
  12. ↑ (Tokenpost (Enna Lee), the 10th of October 2026) Source
  13. ↑ (Treasure’s holders, in a governance vote, the 2nd of March 2026) Source
  14. ↑ (Treasure’s holders, in a governance vote, the 2nd of March 2026) Source
  15. ↑ (Treasure on X, the 11th of October 2026) Source

◆ ◆ ◆

You may also like