Cryptocurrency exchange BitMart will shut down its trading platform, beginning an orderly wind-down on Sunday.
The announcement sent BitMart Token (BMX) tumbling, with the exchange token posting double-digit losses over the past 24 hours. The platform urged users to close positions and withdraw assets without delay.
BitMart Sets a 6-Month Runway Before Full Closure
BitMart attributed the decision to a review of its operations, market conditions, and future strategic direction.
“BitMart has made the difficult decision to commence an orderly wind-down of its trading platform operations. We deeply regret having to make this decision,” the team said.
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The notice sets a staged timeline. The platform suspended new registrations, deposits, and orders on July 26, 2026, at 01:30 UTC.
Futures accounts switched to reduce-only mode on July 26. Spot trading also stopped accepting new orders that day.
Copy trading, grid trading, and API trading services are being discontinued in phases. Earn, staking, lending, and Launchpad products will wind down under their own schedules.
All spot, futures, and other trading ends at 01:00 UTC on August 26. Platform operations then cease entirely at 15:59 UTC on January 31, 2027.
The exchange asked users to complete identity verification and close positions before that August deadline. It also asked users to submit withdrawal requests by 05:00 UTC on August 26, 2026.
BMX Slides as Exchange Closures Pile Up
The market reaction was immediate. BMX traded near $0.11016 on Sunday, down 46.08% on the day.
That leaves it roughly 82% below its record high of $0.61905, reached on June 5, 2024.
The closure arrives just days after BitMEX told users it would end operations on September 23. Two established venues are therefore exiting within the same week.
Users now have one month to exit positions before trading stops on BitMart.
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The post BMX Token Crashes 46% as BitMart Announces Exchange Wind Down appeared first on BeInCrypto.
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