Market share analyses from blockchain analytics platforms

Magic Eden Leads NFT Market with 80.58% Share, Native to Solana

Apr 18, 2024, 08:48 AM

Magic Eden has emerged as a dominant force in the NFT marketplace, surpassing Blur to become the leading platform in terms of monthly users and market share. According to recent data, Magic Eden now holds an 80.58% market share, with a 24-hour total volume of 45.51K SOL. It also accounts for 84% of total marketplace revenue, significantly outpacing competitors. Despite Blur retaining the top spot in trading volume in Q1 with $1.5 billion, Magic Eden's recent surge, particularly in March, was fueled by new reward programs, leading to its increased prominence. Notably, Magic Eden is native to the Solana blockchain.