Magic Eden shut EVM and Bitcoin markets make dem shift to gambling platform Dicey
Magic Eden go stop support for Ethereum Virtual Machine (EVM) chains and Bitcoin-native markets (Runes/Ordinals) so dem fit focus on dia on-chain gambling product, Dicey. CEO Jack Lu don set phased timetable: EVM and Bitcoin marketplaces go close on March 9, Bitcoin API go shut on March 27, and the multi-chain wallet go enter export-only mode (wey mean normal operations done) on April 1. The decision na because of revenue reality — Solana carry more than 85% of volume late 2024 — so to maintain low-volume EVM and Bitcoin infrastructure no longer economical. Magic Eden dey end im NFT buyback program and dey narrow NFT offerings toward Solana-native randomized NFT packs while dem dey invest for Dicey features, including planned sportsbook. Dicey closed beta attract about 200 users and record over $15 million wagered in two months, show say people want low-fee, high-throughput gambling on Solana. Users must migrate assets from Magic Eden wallet to chain-specific wallets (e.g., Phantom for SOL, MetaMask for ETH) before export mode. Traders suppose watch: concentrated NFT liquidity for Solana (SOL), short-term volatility and liquidity gaps for Bitcoin-native collectibles (Ordinals/Runes) as retail activity move to smaller platforms (e.g., UniSat), and possible traffic and volume shifts weh fit affect SOL and marketplace tokens. The move aim to cut multi-chain operating costs and double down on iGaming revenue, but e fit trigger temporary market dislocations for assets linked to Ordinals/Runes and marketplace liquidity.
Neutral
Short-term: E get neutral-to-bearish presha pon Bitcoin-native collectibles (Ordinals/Runes) an any marketplace tokens weh tie to multi-chain liquidity, becos liquidity go scatter sharp sharp and people go waka go smaller platforms. Expect higher volatility and possible price dip for dem niche assets as order books thin. Dicey closed beta metrics (≈200 users, $15M wagered) show say product fit dey for Solana, we fit bring bullish tailwinds for Solana ecosystem usage and tokens for medium term. But direct price impact on big cryptocurrencies small: SOL fit get modest positive sentiment if Dicey bring plenty transaction volume, while ETH and BTC effects likely minimal systemically — impacts go land on collectible markets and marketplace/utility tokens not base layer coins. Overall, the news dey shift NFT liquidity to Solana and move business risk away from multi-chain marketplace exposure; traders make dem ready for short-lived dislocations in Ordinals/Runes liquidity and watch SOL plus related marketplace tokens for possible uptick in on-chain activity over time.