Bitcoin Tokens Are Taking the Stage: Magic Eden Acquires Slingshot and Ecosystem Platforms Surge
by Dr. Steven Brule 
The Bitcoin token revolution is here. With Magic Eden’s recent acquisition of the Slingshot app and a flurry of ecosystem advancements, Bitcoin tokens like Runes are positioning themselves to rival traditional altcoin infrastructure. Once sidelined due to scalability and tooling limitations, Bitcoin’s Layer 1 and Layer 2 innovations are finally unlocking seamless trading, launching, and utility experiences for native Bitcoin-based tokens.
Magic Eden’s Strategic Acquisition of Slingshot
In a bold move to compete with centralized exchanges (CEXs), Magic Eden has announced its acquisition of Slingshot, an on-chain trading app known for its sleek UX and seamless multi-chain swapping capabilities. This acquisition represents a critical leap toward delivering a non-custodial, multi-chain experience that integrates Bitcoin Runes and other token standards.
“This acquisition will empower Magic Eden to offer an all-in-one experience—bringing together discovery, swapping, and portfolio management directly on-chain,” said Jack Lu, CEO of Magic Eden.
With Magic Eden already a major player in the NFT world, its expansion into token trading—specifically Bitcoin-based tokens—underscores the growing demand for on-chain liquidity without centralized gatekeepers.
Bitcoin Tokens Gain Traction Across Multiple Chains and Tech Stacks
The ecosystem around Bitcoin Runes is evolving quickly, with a number of platforms leveraging unique tech stacks to enable minting, swapping, and bridging of Bitcoin-native tokens. Each network brings its own innovation to the table:
🔷 Internet Computer Protocol (ICP): Odin.Fun & RichSwap
Odin.Fun is turning heads as a Runes-powered meme coin launchpad, using ICP to bring near-zero gas fees and bridgeless interoperability to Bitcoin DeFi.
RichSwap, also on ICP, enables a non-custodial AMM experience for Runes tokens without requiring bridges or wrapped assets.
🟣 BaseChain & ArchNetwork: Funkybit & Saturn DEX
Funkybit offers a fun-first meme coin experience while leveraging BaseChain’s scalability and ArchNetwork’s indexing capabilities.
Saturn DEX is aiming to become the liquidity engine for Runes trading on these chains, bringing speed and composability to Bitcoin token trading.
🟡 MerlinChain: Merlinswap
MerlinChain has emerged as a dominant Layer 2 solution for Bitcoin, with Merlinswap already hosting a robust range of Runes tokens and farming opportunities.
With native BTC support, MerlinChain is becoming the go-to scaling layer for teams building token economies without leaving Bitcoin’s ecosystem.
🔵 Cardano: Fluid Tokens, Aquarium & Minswap
Platforms like Fluid Tokens and Aquarium are bridging the Cardano and Bitcoin communities with unique DeFi experiences, while Minswap is exploring deeper liquidity pools involving Runes-based assets.
Cardano’s growing role in Bitcoin token experimentation highlights its flexibility in supporting cross-chain asset functionality.
🟢 Near Protocol: Runeshot
Runeshot is the latest entrant into the Bitcoin token game, offering a launchpad on NEAR that enables Runes token creation and distribution using NEAR’s fast finality and developer tooling.
This move further expands Bitcoin’s reach into EVM-compatible and non-EVM environments.
Why This Matters: The Bitcoin Token Boom Is Just Beginning
Historically, Bitcoin has lagged behind Ethereum and other chains in token utility—but that narrative is changing fast.
With Runes bringing fungible tokens natively to Bitcoin, and a growing number of infrastructure protocols racing to support the standard, we are witnessing the birth of a true Bitcoin DeFi economy. Whether it’s on ICP, NEAR, BaseChain, or MerlinChain, developers now have a growing toolset to build tokenized experiences without leaving Bitcoin’s foundational trust and decentralization.
As Magic Eden integrates Slingshot, and new DEXs like RichSwap and Saturn come online, the friction around Bitcoin token discovery, trading, and liquidity is quickly disappearing.
Final Thoughts: The Rise of the Bitcoin Layer is Here
What we’re witnessing is a convergence—Bitcoin maximalism meeting token-era innovation. With Magic Eden’s acquisition of Slingshot and cross-chain support from ICP to NEAR, Bitcoin Runes are on the brink of becoming a cornerstone of Web3.
For traders, developers, and users alike, the message is clear:
Bitcoin tokens are no longer just an idea. They’re infrastructure-ready and ecosystem-backed.
