Magic Eden

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

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's governance or utility token carries a market capitalisation of 59,9 M US$ based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token (59,9 M US$) above the protocol's on-chain TVL (127,8 mil US$) — a mcap/TVL multiple of 468.82× implies investors are paying for expected future fee flows rather than current deposits alone. A further 65,4 M US$ 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.

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.

Eventos importantes señalados por la comunidad de DeFiLlama — lanzamientos del protocolo, exploits, cambios de gobernanza y programas de incentivos.

1. Oct 8, 2025
   Listado en DeFiLlama

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.

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 (59,9 M US$) currently exceeds total value locked (127,8 mil US$) — a mcap/TVL ratio of 468.82 suggests the market is pricing in more growth than current deposits support.

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.

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 23,6 M US$ 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

TVL 18,8 M US$ · 24h +0.54%

NFTX

TVL 2,7 M US$ · 24h -0.22%

Sudoswap V1

TVL 660,8 mil US$

ImmutableX

TVL 571 mil US$ · 24h -79.57%

Salvor

TVL 552,9 mil US$ · 24h +6.89%

GumBall Protocol

TVL 356,7 mil US$ · 24h +0.61%