The NFT market has reset entirely, with total market cap slipping below $1.5B, levels last seen before the 2021 frenzy, as Nike offloaded RTFKT and Nifty Gateway shut down entirely. Magic Eden is closing its Bitcoin and Ethereum Virtual Machine trading platforms and ending support for its multi chain wallet, with the company beginning to wind down non-Solana services in March 2026. Magic Eden will start shutting down its Bitcoin and EVM-based marketplaces in the first week of March 2026, including trading infrastructure linked to Bitcoin Ordinals and EVM-compatible chains such as Ethereum, Polygon, and Avalanche.