Magic Eden – one of the largest Non-Fungible Token marketplaces in the cryptocurrency market – is reportedly preparing for a significant strategic restructuring, planning to close its marketplace for Bitcoin and EVM-compatible blockchains, and discontinue support for Multi-Chain wallets to refocus all resources on the Solana ecosystem and its new development direction.
According to sources cited by blockchain specialist Blockspace , an official announcement could be made as early as this week. The shutdown of marketplaces on the Bitcoin network and EVM blockchains is expected to take place in the first week of March 2026. This is XEM one of the biggest changes since Magic Eden expanded to multi- chain, including Ethereum and the Ordinals wave on Bitcoin.
After closing its marketplace, Magic Eden's cross-chain wallet will switch to export-only mode in mid-March 2026 and cease operations completely in early April. However, the platform will continue to support Non-Fungible Token and digital assets on Solana – the blockchain that originated and helped Magic Eden rise to a leading position during the Non-Fungible Token boom of 2021–2022.
This move is landmark, especially considering Magic Eden's Vai in fostering the Ordinals movement on Bitcoin. When Non-Fungible Token standards emerged on the Bitcoin network, Magic Eden was XEM one of the leading marketplaces supporting transactions, directly competing with established platforms like OpenSea . Its withdrawal from Bitcoin at this point suggests the company is no longer betting long-term on this segment, despite the network maintaining stable liquidation .
Recent 30-day transaction data shows that EVM blockchains still contribute a significant share to Magic Eden's total Volume . Ethereum alone recorded over $45 million in daily volume , while Base reached approximately $17.1 million. In the Bitcoin sector, the network ranked third with around $3.2 million in Volume, only behind Solana with approximately $7.8 million. These figures indicate that activity on EVM and Bitcoin is not slowing down or completely declining.
