Magic Eden shuts Bitcoin and EVM marketplaces in March to refocus on Solana

Magic Eden, one of the crypto industry’s largest non-fungible token (NFT) marketplaces, has announced it will shut down its Bitcoin and Ethereum Virtual Machine (EVM) trading platforms in early March 2026.

The decision, confirmed in multiple industry reports on February 27, affects trading services tied to Bitcoin Ordinals and EVM-compatible blockchains such as Ethereum, Polygon, and Avalanche.

The company will also discontinue its multi-chain wallet, which will transition into export-only mode by mid-March before fully shutting down in early April.

Magic Eden says it will continue full support for Solana-based NFTs, the ecosystem where it originally rose to dominance.

Industry analysts view the change not as a collapse but as a recalibration amid evolving NFT market conditions.

Why Magic Eden is abandoning Bitcoin and EVM markets

Magic Eden launched as a Solana-native NFT marketplace in 2021 and rapidly became one of the most active trading venues in the digital collectibles sector.

During the NFT boom, the company expanded aggressively into multi-chain support, adding Bitcoin Ordinals and EVM networks to capture a broader user base.

However, operating across multiple blockchains created growing technical and operational complexity.

Reports indicate that the majority of trading volume continued to originate from Solana despite expansion efforts.

According to industry coverage, the company now plans to concentrate engineering resources and liquidity on its strongest ecosystem rather than maintaining fragmented infrastructure across chains.

“Magic Eden aims to streamline operational complexity and refocus engineering resources on strengthening features and liquidity within its core Solana business.” Company-aligned reporting cited by AInvest analysis.

As NFT trading volumes fluctuate and competition intensifies, platforms are increasingly prioritizing profitability and ecosystem depth instead of multi-chain reach.

What users and investors must do before shutdown deadlines

The restructuring comes with immediate implications for traders and collectors holding assets on affected networks.

Users are being urged to withdraw Bitcoin and EVM-based NFTs and funds before support ends to avoid losing access once services are discontinued.

The multi-chain wallet will gradually lose functionality, beginning with a transition to export-only access before full termination.

Sources familiar with the rollout described a phased timeline:

• Early March 2026: Bitcoin and EVM marketplaces cease trading operations
• Mid-March: Multi-chain wallet enters export-only mode
• Early April: Wallet support ends entirely.

Industry observers stress that such shutdown procedures are common when crypto platforms restructure services, but they also highlight the importance of self-custody practices.

The event shows a recurring lesson in Web3 markets: platform risk remains a critical factor even when assets themselves exist on decentralized networks.

A signal of deeper changes in the NFT economy

Magic Eden’s withdrawal from Bitcoin and EVM trading arrives at a moment of transition for NFTs.

After explosive growth between 2021 and 2023, marketplaces have faced declining speculative activity, tighter liquidity, and increasing competition.

Rather than maintaining costly cross-chain infrastructure, companies are now consolidating around ecosystems where they maintain competitive advantages.

Market analysts say the decision could influence how other NFT platforms allocate resources moving forward.

The move may also reshape competition among Solana-focused marketplaces, where Magic Eden still commands strong brand recognition and user loyalty.

Meanwhile, the Bitcoin Ordinals ecosystem, where Magic Eden once held a leading position may see liquidity migrate toward specialized marketplaces and infrastructure providers that remain fully committed to Bitcoin-native NFTs.

What this means for crypto investors

Magic Eden’s pivot is less about retreat and more about strategic survival. The era of rapid multi-chain expansion appears to be giving way to focused ecosystem dominance and sustainable business models.

The decision signals three key takeaways:

1. Market maturity: NFT platforms are shifting from growth-at-all-costs strategies toward operational efficiency.
2. Ecosystem loyalty matters: Platforms are doubling down on chains where user activity is strongest.
3. Custody awareness is critical: Investors must monitor platform announcements and maintain control over assets.

As NFT markets continue evolving, Magic Eden’s restructuring may become a case study in how crypto-native companies adapt when hype cycles cool and long-term sustainability becomes the priority.