Magic Eden shuts down Bitcoin and Ethereum marketplaces, focusing on Solana and crypto gaming.

Magic Eden is closing its Bitcoin and Ethereum-compatible NFT marketplaces but will keep its Solana marketplace operational. This move is part of a cost-cutting strategy amid a tough crypto market, allowing the company to focus on its core Solana user base and pivot towards crypto entertainment with a new gaming platform. Users must export their wallet data before May 1, 2026, when the wallet app will be fully shut down. The company aims to strengthen its position with the $ME token despite recent price declines.