- Magic Eden temporarily halts Bitcoin BRC-20 trade following the substantial drop in trading activity.
- The marketplace’s surprising move is intended to protect users best.
- The closure of Bitcoin BRC-20 trade will not affect other trading activities of the marketplace.
Community-centric NFT marketplace Magic Eden recently announced its decision to temporarily halt Bitcoin BRC-20 trading best to “protect users until full ord consensus across all BRC-20”. However, as per an official post by Magic Eden on X, the short-term suspension of the Bitcoin BRC-20 trade will not affect other trading activities on the platform.
We’ve temporarily paused BRC-20 trading to best protect users until full ord consensus across all BRC-20All other trading remains live on Magic Eden in the meantime!
— Magic Eden on Bitcoin (@MEonBTC) October 22, 2023
Magic Eden is one of the most popular NFT marketplaces built on the Solana blockchain. Launched on September 17, 2021, Magic Eden introduced a “fully audited” marketplace for Bitcoin Ordinals in March 2023. The press release stated,
“Magic Eden (“The Company”), the leading cross-chain NFT platform, today announced…