Magic Eden is closing its Bitcoin and Ethereum Virtual Machine trading platforms and ending support for its multi chain wallet, marking a significant shift in strategy for one of the best known NFT marketplaces.
The company, which built its reputation on Solana, will begin winding down non Solana services in March 2026.
The decision signals a renewed focus on its original blockchain ecosystem as the broader NFT sector continues to consolidate and mature.
Bitcoin and EVM closure timeline
According to reports, Magic Eden will start shutting down its Bitcoin and EVM-based marketplaces in the first week of March 2026.
This includes trading infrastructure linked to Bitcoin Ordinals and EVM-compatible chains such as Ethereum, Polygon, and Avalanche.
Its cross-chain wallet will move into export-only mode by mid-March.
Users will still be able to transfer assets out, but no new activity will be supported.
Full wallet services are set to cease in early April.
Support for Solana-based NFTs and assets will continue without disruption.
Return to Solana roots
Magic Eden first gained traction by focusing on the high-throughput Solana blockchain.
It positioned itself as a user-friendly venue for buying, selling, and trading non-fungible tokens, and quickly became one of the leading marketplaces within the Solana ecosystem.
As the NFT market expanded, the platform moved into Bitcoin Ordinals and multiple EVM chains in an effort to reach a wider audience and diversify revenue streams.
The expansion reflected intense competition among marketplaces seeking liquidity across chains.
The current decision reverses that multi-chain push.
By narrowing its operational scope, the company is expected to reduce technical complexity and allocate engineering resources more efficiently within its core network.
Wallet export and user action
Users with assets on the Bitcoin and EVM marketplaces, or stored in the multi-chain wallet, are being urged to withdraw holdings before services end.
Once the wallet fully ceases operations in early April, access could be permanently lost if assets are not transferred in time.
The export-only phase is intended to provide a transition window.
During this period, users can move tokens and digital collectibles to external wallets or alternative platforms that continue to support those chains.
The company has not indicated any changes to its Solana marketplace infrastructure, which remains operational.
NFT market consolidation
The move comes as the NFT sector adjusts to shifting demand patterns and tighter liquidity conditions.
Platforms that previously expanded across multiple chains are reassessing costs, user activity, and long-term sustainability.
By concentrating on the ecosystem where most of its historical trading volume originated, Magic Eden appears to be prioritising depth over breadth.
Rather than maintaining parallel marketplaces across Bitcoin and several EVM networks, the company is focusing on strengthening liquidity, features, and community engagement within Solana.
As March 2026 approaches, the phased closure will test how users respond and whether a streamlined model can reinforce Magic Eden’s position in an increasingly specialised NFT market.
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