BitMart, a top-10 crypto exchange by volume, begins an orderly wind-down on July 26, following BitMEX's closure this week. The shutdown is strategic, not tied to a hack or insolvency.
BitMart, a cryptocurrency exchange that has ranked among the top 10 globally by daily trading volume, said it will begin an orderly wind-down of its platform, joining BitMEX in a wave of closures hitting established players.
The exchange said the decision followed a review of its operating conditions, market environment, and future strategic direction. It stressed the process would be orderly.
Starting July 26 at 01:30 UTC, BitMart will stop accepting new user registrations and suspend cryptocurrency and fiat deposits. The exchange warned users not to send assets after deposits are disabled, as funds may not be automatically credited. Futures accounts will move into read-only mode, preventing new positions, while spot markets will stop accepting new orders. Copy Trading, Grid Trading, API Trading, and other automated services will also be discontinued.
Full trading, including spot and futures markets, ends on August 26, 2026, at 01:00 UTC. Any remaining futures positions may be settled according to platform rules.
BitMart was not a small platform. By daily trading volume, it has consistently ranked alongside Binance, Coinbase, OKX, Bybit, and KuCoin. The exchange supported hundreds of cryptocurrencies across multiple regions.
The closure is not linked to a security breach or insolvency event, the exchange said. Instead, it described the move as a strategic decision after assessing market conditions.
The shutdown adds to a growing list of established crypto platforms exiting as competition intensifies and trading activity concentrates among the largest exchanges. Earlier this week, BitMEX announced it would shut down after more than 11 years in business. BitMEX said its closure followed a strategic review by its parent company HDR Global Trading and the broader crypto industry environment. BitMEX will cease operations on September 23, 2026, and has urged users to close positions and withdraw funds before the deadline.
Both closures come as trading volumes remain heavily skewed toward the top few exchanges, making it increasingly difficult for mid-tier platforms to sustain the infrastructure, compliance, and liquidity costs needed to compete.
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