Magic Eden to Shut Down Bitcoin and EVM Markets, Discontinue Multi-Chain Wallet Services

2026-02-27 by admin

Deep Tide TechFlow news, on February 27th, according to Blockspace reports, NFT trading platform Magic Eden plans to shut down its Bitcoin and EVM markets and terminate its multi-chain wallet service. Informed sources revealed that Magic Eden will announce this decision as early as this Friday and plans to close the Bitcoin and EVM markets in the first week of March. Subsequently, its multi-chain wallet will enter export-only mode in mid-March and completely cease service in early April.

It is reported that Magic Eden will continue to support Solana NFTs and assets, indicating the company is returning to its original Solana ecosystem. Previously, Magic Eden was the leading marketplace for Bitcoin Ordinals (a Bitcoin-specific NFT standard) and once became the world’s largest NFT platform by trading volume.

Magic Eden CEO Jack Lu previously stated that the company is shifting from the NFT marketplace to the “crypto entertainment” space, exploring new directions such as prediction markets.

PANews reported on February 27th that, according to Crowdfund Insider, Citigroup announced plans to launch a Bitcoin custody solution for institutional clients later in 2026, embedding Bitcoin directly into its core banking operations. The new platform will extend traditional tax reporting, regulatory compliance, and risk management processes to Bitcoin holdings, allowing investors to manage their Bitcoin positions within a unified system just like they would manage stocks or bonds. The platform supports 24/7 operation, SWIFT global transfers, and API connectivity, and is designed for institutional participants such as pension funds and insurance companies. The bank will build its own technology stack, including the Citigroup Integrated Digital Asset Platform, initially launching core custody functionality and gradually expanding to advanced services that enhance asset segregation and collateral management.

Deep Tide TechFlow news, on February 27th, according to Blockspace reports, NFT trading platform Magic Eden plans to shut down its Bitcoin and EVM markets and terminate its multi-chain wallet service. Informed sources revealed that Magic Eden will announce this decision as early as this Friday and plans to close the Bitcoin and EVM markets in the first week of March. Subsequently, its multi-chain wallet will enter export-only mode in mid-March and completely cease service in early April.It is reported that Magic Eden will continue to support Solana NFTs and assets, indicating the company is returning to its original Solana ecosystem. Previously, Magic Eden was the leading marketplace for Bitcoin Ordinals (a Bitcoin-specific NFT standard) and once became the world's largest NFT platform by trading volume.Magic Eden CEO Jack Lu previously stated that the company is shifting from the NFT marketplace to the "crypto entertainment" space, exploring new directions such as prediction markets.