BitMart to Shut Down by January 31, 2027 Amid Market Shift

BitMart, a nine-year-old cryptocurrency exchange, has announced its gradual shutdown. The platform will cease all activities by January 31, 2027. According to BitMart's notice, the decision was made after evaluating 'operating conditions, market environment, and future strategic direction.'

The exchange stopped accepting new registrations, deposits, and trading orders on July 26 at 01:30 UTC. Users are advised to complete identity verification, close positions, and submit withdrawal requests by August 26, when spot and derivatives trading will halt.

Following the announcement, the BMX token dropped approximately 56% in a day, trading around $0.08. Its market capitalization fell to $27.4 million, representing a loss of about 74% over the past year.