24/7 Cryptocurrency News

Magic Eden NFT Volumes Top Bitcoin, Ethereum, and Solana Networks

NFT marketplace Magic Eden saw inflows in trading volumes to lead other platforms in Solana, Bitcoin and Ethereum networks.
Published by
Magic Eden NFT Volumes Top Bitcoin, Ethereum, and Solana Networks

Highlights

  • NFT marketplace Magic Eden has recorded a surge in trading volumes.
  • The platform now dominates the Solana, Ethereum, and Bitcoin blockchains.
  • This comes as total NFT volumes plunged in the last 30 days.

Non-fungible token (NFT) marketplace, Magic Eden has recorded an uptick in trading volumes across Ethereum, Bitcoin, and Solana networks in the last 24 hours. This boost comes as decentralized finance (DeFi) activities surge following increased market sentiments. Magic Eden notched volumes increasing its market share. 

Advertisement

Magic Eden Flips Blur on Ethereum

Magic Eden has surpassed NFT marketplace Blur on Ethereum. The platform’s market share surged to 41.39% outpacing Blur at 38.84%. OpenSea and CryptoPunks and X2Y2 come next with 13%, 5%, and 0.91%. The platform 24 hours volume surged pushing the network’s volume by 1.96%.

On Solana, Magic Eden maintains its lead with 75.79% with assets worth over 17K SOL. Recent market activity has boosted its lead of the network as users troop to its marketplace. Tensor and Sniper come up next on Solana with 19.38% and 2.40% while Hyperspace and Hadeswap rank next with 1.21% and 0.98% respectively. On-chain data from Tiexo points to a rally in Solana volumes as volumes 18% to 22.7 SOL approximately $3.81 million.

The Bitcoin ecosystem also saw similar numbers as Magic Eden dominated NFT volumes. The platform posted 55.07% of the market share while OKX saw 35.31%. Unisat and Ordinals Wallet saw 9% and 0.61%. While NFT volumes on other networks ticked upwards, Bitcoin numbers saw a 46% drop in the last 24 hours.

This year, Magic Eden announced partnerships with Azuki collaborating on multiple fronts such as integrating the social token’s features into the marketplace.

Advertisement

Solana’s NFT Growth

Magic Eden which dominates the Solana ecosystem more than others has led to wider gains for the community dubbed ETH killer. In December, Solana topped Ethereum in NFT volumes as users purchased projects based on the platform.

However recent data from CryptoSlam shows a drop in overall volumes. In May, volumes plunged 54% to $624 million from last month’s over $1 billion volume. Bitcoin NFT sales plummeted 68% while Ethereum and Solana 55% and 48% drop respectively.

Also Read: Cardano Bull Names Top 3 Altcoins To Outperform This Cycle

Advertisement

Share
David Pokima

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Fed’s Stephen Miran Says He’s ‘Sanguine’ on Inflation Outlook as He Backs More Rate Cuts

Federal Reserve Governor Stephen Miran has again suggested that he isn't worried about the inflation…

October 7, 2025
  • 24/7 Cryptocurrency News

S&P Launches Crypto 50 Index But There’s A Catch

S&P Dow Jones Indices has introduced a new crypto index called the S&P Digital Markets…

October 7, 2025
  • 24/7 Cryptocurrency News

NYSE Owner ICE to Invest $2B in Polymarket as Interest in Prediction Markets Heats Up

Crypto predictions platform Polymarket has secured a strategic investment from New York Stock Exchange (NYSE)…

October 7, 2025
  • 24/7 Cryptocurrency News

Expert Predicts SOL ETF Approval This Week as Solana ETPs Break All-Time Record

An expert has predicted that the U.S. SEC could finally approve the pending SOL ETF…

October 7, 2025
  • Altcoin News

XRP On-Chain Data Flashes Buy Signal as Analysts Target $4

On-chain data expert Santiment claimed XRP is flashing a promising buy signal. The highest level…

October 7, 2025
  • 24/7 Cryptocurrency News

U.S. To Start Funding Its Bitcoin Reserve Anytime, Says Senator Lummis as BTC Rally Extends

Senator Cynthia Lummis confirmed that the U.S. government would begin funding its Strategic Bitcoin Reserve…

October 7, 2025