Magic Eden’s Strategic Shift
Magic Eden, a leading player in the NFT marketplace primarily associated with the Solana blockchain, is poised to shut down its trading platforms related to Bitcoin and Ethereum Virtual Machine (EVM) chains. This includes halting support for its multi-chain wallet as part of a broader strategic shift.
Background and Expansion
Initially, Magic Eden gained traction by providing a straightforward and accessible platform for trading non-fungible tokens on Solana’s efficient network. To diversify its offerings, the platform later incorporated features for trading Bitcoin Ordinals and NFTs across various EVM-compatible networks such as Ethereum, Polygon, and Avalanche, aiming to engage a wider audience in the rapidly expanding NFT landscape.
Upcoming Changes
However, reports indicate that the company plans to phase out its Bitcoin and EVM marketplaces starting in early March 2026. Additionally, by the middle of March, the multi-chain wallet will transition to an export-only mode and will completely cease operations in early April. Despite these significant changes, Magic Eden will maintain its support for Solana-based NFTs, ensuring that transactions and activities within this core area remain stable and uninterrupted.
Strategic Focus on Solana
This decision appears to reflect a strategic pivot rather than a sign of retreat from the marketplace. By narrowing its focus on Solana, where it has historically seen the highest trading volume, Magic Eden aims to simplify its operations and allocate engineering efforts toward enhancing user experience, liquidity, and community involvement within its foundational platform.
User Advisory
To prevent any potential losses, users are strongly encouraged to withdraw their assets from the Bitcoin and EVM trading platforms and the multi-chain wallet before support is discontinued. This shift in strategy resonates with broader trends in the NFT market, which are increasingly favoring specialization and the consolidation of platforms.
