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Magic Eden
Magic Eden
MENFT Marketplace
DeFiLlama NFT Marketplace·$127.8K TVL·-0.51% 1h·-0.23% 24h·+7.32% 7d·$59.9M MCap

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Protocol TVL

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About Magic Eden

The largest NFT marketplace and Runes platform. Buy, sell and discover Ordinals and NFTs across Solana, Bitcoin, Ethereum, Base, ApeChain, Abstract, Berachain, Monad Testnet, Arbitrum, Sei, BNB Chain, and Polygon.

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

How Magic Eden's TVL is measured

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

TVL includes the tokens held in various Magic Eden controlled wallets on Solana and Bitcoin.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Magic Eden tokenomics and on-chain capital

Magic Eden's governance or utility token carries a market capitalisation of $59.9M based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($59.9M) above the protocol's on-chain TVL ($127.8K) — a mcap/TVL multiple of 468.82× implies investors are paying for expected future fee flows rather than current deposits alone. A further $65.4M sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Token market cap
$59.9M
Circulating supply × price
Tokens staked in protocol
$65.4M
Locked native staking
Mcap / TVL ratio
468.82×
Valuation vs deposits

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Magic Eden Timeline

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

  1. Oct 8, 2025
    Listed on DeFiLlama

Protocol Profile

Magic Eden operates in the NFT Marketplace category of DeFi. It is deployed across 5 chains, including Bitcoin, Solana, Arbitrum, Base and 1 other chain.

TVL Distribution by Chain

TVL spans 6 chains across the deployment. See the breakdown below for per-chain values.

Solana-staking
$65.4M(50.0%)
staking
$65.4M(50.0%)
Bitcoin
$94.7K(0.1%)
Solana
$28.5K(0.0%)
Arbitrum
$3.7K(0.0%)
Base
$882(0.0%)

Supported Chains

Bitcoin Solana Arbitrum Base Ethereum

Protocol Footprint

Magic Eden runs a multi-chain deployment, with smart contracts live on 5 networks. Roughly 100% of its on-chain value sits on just three networks (Solana-staking, staking, Bitcoin), so a fault on any one of them would affect a large slice of users. Its token market cap ($59.9M) currently exceeds total value locked ($127.8K) — a mcap/TVL ratio of 468.82 suggests the market is pricing in more growth than current deposits support.

Official Resources & Links

Verified external resources for Magic Eden — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Project Website
magiceden.io
Twitter / X — @MagicEden
twitter.com
Token on CoinGecko
coingecko.com
Token on CoinMarketCap
coinmarketcap.com

Other NFT Marketplace protocols on Mantapex

Magic Eden is one of 7 NFT Marketplace protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Blur Bids, NFTX, Sudoswap V1, and 3 more. These peer protocols collectively secure $23.6M in deposits, giving you a frame of reference for whether Magic Eden's own TVL is at the top, middle, or tail of the category.

Blur Bids
Blur Bids
TVL $18.8M · 24h +0.54%
NFTX
NFTX
TVL $2.7M · 24h -0.22%
Sudoswap V1
Sudoswap V1
TVL $660.8K
ImmutableX
ImmutableX
TVL $571K · 24h -79.57%
Salvor
Salvor
TVL $552.9K · 24h +6.89%
GumBall Protocol
GumBall Protocol
TVL $356.7K · 24h +0.61%
Browse all NFT Marketplace protocols on Mantapex

Recent Magic Eden news

Latest reporting from major crypto news outlets covering Magic Eden.

Related protocols

Other DeFi protocols connected to Magic Eden by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.

Risk Warning

DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.

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