Magic Eden Acquires Slingshot for Seamless On-Chain Trading Expansion

Magic Eden has acquired Slingshot, a cross-chain crypto trading app that simplifies swapping any token across various blockchains using just one USDC balance. This strategic move marks Magic Eden’s significant expansion into on-chain trading, following declining interest in non-fungible tokens (NFTs). Slingshot’s technology streamlines the often complex process of cross-blockchain trading within decentralized finance, eliminating the need for bridges, gas tokens, and multiple wallets.