Magic Eden's latest move is truly interesting. They are shutting down their multi-chain marketplaces, including Bitcoin and Ethereum, and shifting all focus to Solana. At first glance, it might seem like a complete withdrawal, but it's actually a more strategic move.

Brief summary: Trading platforms for Bitcoin Ordinals/Runes and EVM chains (Ethereum, Polygon, Avalanche) have officially closed. However, the Solana market remains open. This really means Magic Eden is returning to its roots because Solana has always been their main source of volume.

So why did they make such a decision? Managing a multi-chain operation is incredibly expensive. To get their engineering team out of the dispersed state, they abandoned support for Bitcoin and Ethereum. Instead, they are transitioning to a new iGaming and gaming platform called Dicey. Their goal is to integrate the ME token into a more focused and profitable ecosystem.

This is not alone. In the first half of 2026, more than 20 major blockchain projects announced full or partial closures. As the market matures, everyone is moving away from the "do everything" strategy of 2021-2024. Now, sustainable revenue-focused approaches are coming to the forefront. A significant consolidation is underway. Some users are returning to traditional Bitcoin hardware wallets for security, and platforms are focusing on the single chains where they are strongest.

For Magic Eden, this means Solana. They once held 80% market share in the Bitcoin market, but those days are gone. Of course, it's a blow to the Ordinals community. But the company believes that this narrower model is the only way to become a serious player in the crypto ecosystem.

The problem is: the ME token's price has dropped about 80% over the last six months. It is currently at $0.11, with a 1-year decline of -87.48%. A recovery seems unlikely.

If you have assets on Magic Eden, you should act quickly. Trading of Bitcoin and EVM NFTs ended in March 2026. From April 1, the wallet only operates in "export" mode. On May 1, the wallet app will be removed. Export your recovery phrase immediately and transfer your assets to other wallets like MetaMask or Xverse. While your Solana assets are safe, it’s always wise to keep high-value NFTs in a cold wallet solution.

In conclusion, Magic Eden aims to be a leader at the intersection of finance and gaming. But the current performance of the ME token makes this difficult. The coming months will be critical.