BitMart Exchange to Shut Down by Jan 2027, BMX Token Plummets
BitMart announced an orderly wind‑down of its cryptocurrency exchange. New user registrations and deposits were halted on 26 July 2026, and all spot and futures trading will stop on 26 August 2026. The platform will cease all operations on 31 January 2027, with withdrawals remaining available until that date.
The native BitMart token (BMX) lost roughly 60‑70 % of its value after the announcement, falling to about $0.09. On‑chain data showed a sharp slowdown in withdrawals – only 58 wallets moved roughly $805 000 in a 24‑hour period and no withdrawals were recorded in an eight‑hour window. Wallets linked to BitMart held about $71 million in assets on the day of the notice, down from roughly $102 million earlier in July.
The shutdown follows the closure of fellow exchange BitMEX announced three days earlier, highlighting a broader consolidation trend in the crypto‑exchange sector driven by reduced trading volumes, rising compliance costs and increasing competition from larger platforms.
Entities: Arkham Intelligence · August 26, 2026 · BMX token · Binance (CZ) · Binance (crypto exchange) · BitMEX · BitMEX (cryptocurrency exchange) · BitMart · BitMart (cryptocurrency exchange) · Changpeng Zhao · July 26, 2026 · Natan Chow (global CEO of BitMart)
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 13 SOURCES] BitMart will cease all trading services on August 26, 2026. (newly announced wind‑down schedule)
- [● 8 SOURCES] BitMart’s wallets held about $71 million in crypto assets on the day of the announcement, down from $102 million earlier in July. (on‑chain analytics (Arkham))
- [● 9 SOURCES] BitMart advised users to close open positions and withdraw assets before the August 26 deadline. (user guidance)
- [● 13 SOURCES] BitMart’s native token BMX fell roughly 60‑70 % after the shutdown announcement. (market reaction)
- [● 3 SOURCES] On‑chain data showed withdrawals slowed to near‑zero, with only 58 wallets moving about $805 000 in a 24‑hour period. (Lookonchain analysis)
- [● 7 SOURCES] BitMart’s shutdown follows BitMEX’s exit announced three days earlier. (industry context)
- [● 12 SOURCES] BitMart suspended new user registrations and deposits on July 26, 2026. (operational halt)
- [● 13 SOURCES] BitMart will fully cease operations on January 31, 2027. (final closure date)