Gaming ecosystem Treasure Chain shuts down mainnet nearly five months after its launch

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 06 2025

MAGIC+2.044%

ARB-3.973%

Should l Buy MAGIC?

TreasureDAO Shutdown Announcement: TreasureDAO will shut down its ZKsync-based Treasure Chain on May 30, following the passing of TIP-52, which granted the core team emergency powers to manage the wind-down without further votes. Users are urged to bridge out all assets by the end of May.
Financial Context and Future Plans: The decision to close the chain is part of a cost-reduction strategy due to unsustainable operational costs, with the DAO's runway extended through Fall 2026. Despite the shutdown, the team views this as a necessary step to accelerate product development and ensure future growth.

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Technical Analysis for MAGIC

Technical Sentiment Analysis for Treasure (MAGIC) As of , Treasure (MAGIC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAGIC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, MAGIC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Treasure (MAGIC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.0236	0.0376	0.0529	0.0669	0.0822	0.0962	0.111
Fibonacci	0.0376	0.0488	0.0557	0.0669	0.0781	0.085	0.0962

About MAGIC

Treasure is the decentralized game console. Founded in 2021, Treasure is a base layer for the next generation of games, powered by its native token $MAGIC. Treasure is a gaming network and blockchain that is built on the ZK Stack by ZKsync, one of Ethereum’s Layer 2 scaling solutions.Treasure is home to over 10 games, with notable titles that include: The Beacon, Wanderers, Zeeverse, and many others.The token was launched in September 2021 so its community could buy and sell in-game NFTs on Treasure. It also acts as a reserve currency for Treasure’s metaverse.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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