Magic Eden, one of the leading NFT platforms in the cryptocurrency world, has made an important decision concerning Bitcoin (BTC) and Ethereum (ETH).
According to sources who spoke to Blockspace, Magic Eden is shutting down the Bitcoin and Ethereum Virtual Machine (EVM) marketplaces in the first week of March 2026.
The platform will also end cross-chain wallet support. However, support for Solana (SOL)-based assets and NFTs will continue.
This move is seen as a strategic shift for Magic Eden, which once led the Bitcoin Ordinals market.
After Magic Eden launched the Ordinals market in March 2023, it captured more than half of the total trading volume in a very short time, about a week. At that time, Bitcoin-based assets accounted for 70% of overall market activity.
Magic Eden launched in September 2021 as a Solana-based NFT marketplace, and within just a few months, it accounted for over 90% of Solana’s NFT trading volume.
In January 2024, Solana launched a multi-chain wallet supporting Bitcoin, Ethereum, and Polygon, and its Android app surpassed 100,000 downloads.
Despite these successes, Magic Eden recently announced it will be moving away from its NFT-centric strategy and focusing on prediction markets and the “crypto/entertainment” space.
In this context, Magic Eden’s closure of the Bitcoin and Ethereum EVM markets and the termination of wallet activity are interpreted as part of a strategy to restructure the platform around Solana and focus on prediction markets and the crypto/entertainment space.
*This is not investment advice.
