The Solana-based NFT marketplace, Magic Eden, experienced a significant increase in trading volume in March, surpassing the high-flying Blur. According to CoinGecko's Q1 report, Magic Eden achieved its highest trading volume ever in March, hitting $765 million, a jump of about 194%.

CoinGecko also noted that Blur, despite its success, fell short in March with a trading volume of approximately $530 million. The success of Magic Eden was attributed to its Diamond reward program and a partnership with Yuga Labs.

For six consecutive months, Magic Eden has seen growth in trading volume, overshadowing Blur's previous dominance in the NFT marketplace. Other marketplaces like OKX have faced declines in trading volume, losing ground to Magic Eden and others since December.

Despite the overall increase in trading volume in Q1, the prices of major NFTs like Bored Ape Yacht Club and CryptoPunks have seen significant drops. Controversies around creator royalties enforcement have led to disagreements between NFT marketplaces and studios, with platforms like OpenSea making changes to their royalty enforcement tools to adapt to evasive tactics used by some competitors.