BMX Token Crashes Over 60% Amid Withdrawal Fears

BitMart's native exchange token BMX suffered a dramatic price collapse on January 23rd, losing over 60% of its value in a single hour before partially recovering.

The sell-off, which began around 11:35 a.m. UTC, drove BMX to as low as $0.11, according to data from BlockBeats and CoinMarketCap.

The sudden drop appears to be linked to growing user unrest over BitMart's handling of withdrawals, with users reporting delayed or completely suspended transactions on social media and crypto forums.