Magic Eden Shuts Bitcoin, EVM NFT Markets

• Magic Eden will shut down its Bitcoin and EVM NFT marketplaces in March 2026.
• The company will continue to support Solana-based assets.
• Users need to withdraw their assets before the wallet and marketplace shutdown deadlines.

Magic Eden will shut down its Bitcoin and EVM NFT marketplaces in early March 2026. The company will also shut down its multi-chain wallet shortly after. This is a strategic decision to return to its Solana roots.

The NFT marketplace confirmed that it will place its cross-chain wallet into export-only mode by mid-March. It will fully terminate wallet services in early April. However, Magic Eden will continue operating its Solana marketplace without interruption.

From Multi-Chain Expansion to Solana Focus

Magic Eden built its brand on Solana. The platform gained traction by offering a streamlined experience for trading NFTs on the high-throughput blockchain. As the NFT boom accelerated, the company expanded into Bitcoin Ordinals and EVM-compatible chains such as Ethereum, Polygon, and Avalanche.

That expansion aimed to capture broader NFT market share. It also introduced greater operational complexity. Managing liquidity, infrastructure, and support across multiple chains required significant engineering resources.

Now, Magic Eden has decided to reverse course. The company plans to focus exclusively on Solana-based assets, where it historically generated most of its trading volume.

Bitcoin and EVM Shutdown Timeline

Magic Eden will start the process of shutting down its Bitcoin and EVM NFT marketplaces in the first week of March 2026. The company advises users to withdraw all their assets from the marketplaces before they are shut down.

The multi-chain wallet will go into export-only mode by mid-March. Users need to export their private keys or move their assets before early April, when the wallet will stop working completely.

The company has already warned users that if they do not withdraw their assets before the deadline, they might lose access to them. Users need to transfer their assets well before the shutdown.

Strategic Realignment or Market Signal?

Magic Eden’s choice is also indicative of the overall trends in the NFT market. The market has evolved since the peak of the hype cycle. The trade volumes have normalized, and the market has started to focus on their core competencies.

Instead of spreading their wings across multiple ecosystems, Magic Eden has chosen to focus on depth rather than breadth. This will allow them to improve their liquidity pools, user experience, and community engagement.

This is not a sign of withdrawal but a sign of consolidation. Solana is still one of the most active NFT ecosystems, and Magic Eden still enjoys strong brand recognition in that space.

Looking ahead at the NFT market, specialization might become the new norm, and multi-chain experiments might become a thing of the past. Magic Eden’s shift is a sign of this new trend of operational efficiency and ecosystem loyalty.

In terms of what this means for users, the first priority is asset withdrawal. In terms of the overall NFT market, this is a sign of a market shift towards focused growth rather than growth on every blockchain.

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