I just realized some surprising news: Magic Eden is undergoing a pretty thorough "reorientation." It's not a complete shutdown as the media headlines suggest, but they have decided to stop supporting Bitcoin Ordinals/Runes and EVM chains (Ethereum, Polygon, Avalanche). Instead, Magic Eden will focus solely on Solana and venture into the crypto entertainment space with the Dicey platform.

The reason is quite clear: managing a multi-chain ecosystem is too costly. Instead of trying to become a comprehensive NFT marketplace for all blockchains, Magic Eden has decided to "return to roots"—where they truly have strength. That is Solana, which accounts for the majority of their trading volume.

What’s most notable is that Magic Eden is not an isolated case. Since the beginning of 2026, over 20 major blockchain projects have announced the complete or partial closure of their services. The market is maturing— the era of "expanding regardless of cost" from 2021-2024 is over, and now projects must focus on sustainable revenue.

But here’s the hard part: if you have assets on Magic Eden (especially Bitcoin or EVM NFTs), you need to act immediately. Important deadlines are approaching:

March 2026: Bitcoin and EVM NFT trading officially stops.
April 1: Magic Eden wallet switches to "export-only" mode—you can only view, not send or receive.
May 1: Complete shutdown—app removed from app stores, any unbacked keys will be permanently lost.

What you need to do right now: export your (seed phrase) from the Magic Eden wallet, then import it into another wallet like MetaMask (for EVM) or Xverse (for Bitcoin). For Solana assets, the market remains safe, but it’s best to transfer high-value NFTs to cold storage.

Magic Eden is making a big bet on the token $ME and their new direction. Currently, ME’s price is around $0.11, down 3.44% in the past 24 hours—reflecting the market’s reassessment of this strategy. The loss of the Bitcoin market (which once held 80% of the market share) is a significant blow to the Ordinals community, but the company believes that this lean model is the only way to survive the next cycle. However, with the token price down 80% over the past six months, regaining momentum will not be easy. This trend indicates that the cryptocurrency market is going through a "survival of the adaptable" phase—only projects focused on core areas will have a chance to survive.