The core competitiveness of Magic Eden lies in its multi-chain strategy, while other benchmark projects focus on a single-chain ecosystem. The current environment and NFT track are both poor, and the declining transaction volume of the single-chain ecosystem also highlights the limitations of the single-chain model in smoothing bull and bear fluctuations. By embracing multi-chain, Magic Eden has attracted users and project parties from different blockchain ecosystems, greatly broadening its user base and business boundaries. This multi-chain advantage not only enhances the competitiveness of the platform, but also brings it a high level of attention and institutional favor, which may drive its valuation up.

Magic Eden's multi-chain approach is definitely setting it apart in the NFT space. Diversifying across different blockchain ecosystems not only expands its user base but also attracts institutional interest. This strategic move could indeed give them a competitive edge and potentially drive their valuation higher. Exciting times ahead for Magic Eden!