ChainCatcher reports that, according to Hyperinsight monitoring, the crypto market experienced a rapid decline this afternoon at 16:00, with Ethereum dropping over 2% in a short period. During this time, some long positions on Magic Ethereum were partially liquidated again. As of press time, the 25x ETH long position has been reduced to only 1,360 ETH, with the liquidation price dropping to $1,929.

Magic Eden announces it will shut down Ethereum EVM and Bitcoin trading services on March 9, and will focus on the Solana ecosystem and crypto gambling Dicey in the future. This move marks a strategic restructuring, aiming to transform in response to market changes and concentrate on growth potential.

Magic Eden will shut down its Bitcoin and EVM markets and cease support for multi-chain wallets. The related services are expected to close in early March, and cross-chain wallet services will stop in early April, but support for NFTs and assets on Solana will continue.