Magic Eden

Magic Eden is a multi-chain NFT marketplace that allows users to list, discover, and trade non-fungible tokens and Bitcoin Ordinals and Runes across more than ten blockchains, including Solana, Bitcoin, Ethereum, and several others. The platform aims to address the fragmentation in the NFT trading market by offering a single interface spanning multiple networks. Its intended users are collectors, creators, and traders who want to move between ecosystems without switching between separate marketplaces.

Magic Eden operates as an application-layer marketplace rather than a base-layer blockchain, meaning it has no consensus algorithm of its own and settles trades on whichever underlying chain the NFT or Ordinal lives on. The ME token exists within this ecosystem and had approximately 611.8 million units in circulation at the time of data capture, out of a maximum supply of 1 billion. The token's precise governance or utility mechanics are not fully detailed in the data stored here, though it is classified as the native token of the platform.

The data stored for Magic Eden does not include a measured fee stream, so no fee-based revenue figures are available on this page. The protocol's total value locked stands at approximately 143,260 dollars at the point of capture, which fell by roughly 64.7 percent over the trailing seven days. With a market capitalisation of about 37.3 million dollars set against that TVL, the market-cap-to-TVL ratio sits at approximately 264, and the fully diluted valuation produces an FDV-to-TVL ratio of approximately 431, both reflecting how little value is locked relative to the token's market valuation rather than any fee income.