MagicEden Exchange Trade Data

MagicEden API

Scraper file
Volume 24h
Trades 24h
Exchange Information

What is MagicEden?

MagicEden is a decentralized marketplace for buying and selling NFTs (non-fungible tokens). It was founded in 2021 by a team of blockchain enthusiasts. The platform allows users to create, discover, and trade unique digital assets, such as art, collectibles, and virtual land. MagicEden aims to provide a seamless and secure environment for NFT enthusiasts to connect and transact.

What are the benefits of using MagicEden?

MagicEden offers several benefits compared to its direct competitors in the blockchain marketplace. One of the key advantages of using MagicEden is its user-friendly interface and seamless user experience. The platform provides intuitive navigation and a simple onboarding process, making it accessible for both experienced users and newcomers to the blockchain space.

Another benefit of MagicEden is its broad range of supported cryptocurrencies and tokens. The platform supports a wide array of digital assets, allowing users to trade, buy, and sell various tokens all in one place. This is in contrast to some of its competitors that have a limited selection of supported assets.

Security is a top priority for MagicEden, and the platform offers robust security measures to protect user funds and sensitive information. Utilizing advanced encryption techniques and smart contract auditing, MagicEden ensures that user transactions are secure and transparent.

MagicEden also stands out for its commitment to community engagement and support. The platform fosters an active and vibrant community of users through social channels and provides reliable customer support to address any issues or concerns.

In summary, MagicEden provides a user-friendly interface, extensive asset support, robust security measures, and proactive community engagement, which sets it apart from its direct competitors in the blockchain marketplace.

How does MagicEden work?

MagicEden is a decentralized marketplace built on the Ethereum blockchain that enables users to buy, sell, and trade NFTs (Non-Fungible Tokens). NFTs are unique digital assets that can represent ownership of various forms of digital or physical items like art, collectibles, music, and more.

The underlying technology behind MagicEden is smart contracts, which are self-executing digital agreements that automatically facilitate the exchange of assets once predefined conditions are met. These smart contracts are deployed and executed on the Ethereum blockchain, a decentralized network that ensures transparency, security, and immutability.

To use MagicEden, users need to connect their Ethereum wallet to the platform. This allows them to securely interact with the marketplace without the need for intermediaries. Once connected, users can explore various NFT collections, place bids, or list items for sale.

When a user lists an NFT for sale, MagicEden stores the asset's metadata, including its unique identifier, ownership details, and other relevant information, on the blockchain. This ensures transparency and provenance for each NFT transaction.

When a buyer purchases an NFT, the smart contract automatically transfers the ownership rights to the buyer's Ethereum wallet. The transaction is recorded on the Ethereum blockchain, providing an immutable transaction history.

MagicEden also allows creators to receive royalties from subsequent resales of their NFTs. This is made possible through the integration of royalty smart contracts, which automatically distribute the predetermined percentage of each resale to the original creator.

Overall, MagicEden leverages the Ethereum blockchain and smart contracts to provide a decentralized and secure marketplace for buying, selling, and trading NFTs, revolutionizing the ownership and monetization of digital assets.

How does DIA fetch MagicEden trade data?

DIA utilizes a comprehensive data management approach to fetch trade data from various DeFi and NFT exchanges, tailoring its process depending on the type of exchange involved. For centralized exchanges like Coinbase, Kraken, and Binance, DIA employs scrapers that directly collect trades from the exchange databases using Rest APIs or WebSocket APIs. The frequency of data collection varies between 1 to 7 seconds, depending on the specific exchange.

In contrast, for decentralized exchanges, DIA retrieves data from different blockchains by subscribing to swap events in liquidity pools. This method allows DIA to access trading data directly from the blockchain, ensuring a high level of accuracy. Prominent decentralized exchange sources such as Uniswap,, and PancakeSwap are included in this process.

When it comes to NFT marketplaces, DIA captures live trading data by retrieving information from the integrated marketplace's smart contracts. The retrieval period typically ranges from 20 seconds to 1 minute, enabling DIA to cover all NFT transactions occurring in real-time. This approach guarantees data precision by excluding unreliable bids and offer data. Noteworthy NFT integrated exchange sources include Blur, X2Y2, OpenSea, and TofuNFT.

By implementing these strategies, DIA ensures that it can provide highly accurate and customizable price feeds by sourcing granular trade data from over 80 exchanges. The use of WebSockets, decentralized node providers, and direct access to blockchain data enhances the reliability and precision of the trade information obtained.

How build oracles with MagicEden data?

DIA utilizes a specific process to compute trade data from MagicEden in order to build price feed oracles. The process differs depending on the type of exchange we are referring to - DeFi or NFT.

For DeFi exchanges, DIA follows a two-step process. Firstly, the trade data is subjected to data cleaning and outlier detection. This is important to ensure that trades with prices significantly deviating from the current market price are excluded. Outliers can be caused by market manipulation, errors, or flash crashes on certain exchanges. By using an Interquartile Range (IR) filter, DIA identifies and removes data points and sets that lie outside an acceptable range relative to the interquartile range. This prevents misaligned price data caused by low-volume or illiquid markets.

After the data cleaning step, DIA applies price determination methodologies to calculate the final price. This involves utilizing filters to retrieve a single USD price value for each asset. One example of such a methodology is the Volume Weighted Average Price (VWAP), which takes into account different trade volumes. Another example is the Moving Average with Interquartile Range Filter (MAIR), where trades are ordered by timestamp and weighted against volume for each data point.

For NFT exchanges, the process is different. DIA focuses on determining the floor price of the NFT collection. The trade data is first subjected to cleansing filters to exclude market outliers and manipulation techniques such as wash trading and sweeping the floor. After this cleansing step, DIA applies pricing methodologies to determine the final price point. The methodologies include the Floor Price, which provides the lowest sale price of the NFT collection recorded on the blockchain, and the Moving Average of Floor Price, which calculates the moving average of the collection's floor price.

In summary, DIA employs a process of data cleaning, outlier detection, and price determination methodologies to compute trade data from MagicEden and build price feed oracles. This ensures reliable and market-representative price data for both DeFi and NFT exchanges.

How does DIA source price oracle data?

Instead of distributing pre-calculated data feeds, DIA covers the whole data journey from individual trade collection, and computation to the last mile of the feed delivery.

Granular trade data collection
DIA retrieves token and NFT tradign data from 100+ exchanges. This enables DIA to build the most precise and customizable price feed oracles.
Instant, direct sourcing
DIA utilizes RPCs and WebSockets to subscribe to swap events and gather trading data from both DEX liquidity pools and CEX databases, allowing for real-time data collection.
Learn more about data sourcing