BitMart has become the latest cryptocurrency trading platform to announce plans to shut down, following a series of recent closures across the sector.

In the previous major bear market, many cryptocurrency exchanges responded by reducing headcount. In the current cycle, several platforms have instead moved to wind down operations entirely, including BitMEX, Odos, Dango and now BitMart. The announcements span different parts of the trading stack, from centralized spot markets and derivatives venues to decentralized exchange aggregation and blockchain-linked trading infrastructure.

BitMart to Wind Down Trading Operations

BitMart, which launched during the 2017 crypto bull market, has grown to support more than 1,700 cryptocurrencies. The exchange said earlier today that it had decided to begin an “orderly” wind-down of its trading platform operations.

According to the announcement, BitMart has already halted new user registrations, deposits and the opening of new trading orders. The exchange said it will stop all trading services one month later. The official shutdown is scheduled for the end of January at 15:59 UTC, when platform operations will cease.

Withdrawals, however, will remain available. BitMart urged users to close their trading positions, complete know-your-customer procedures if required, and transfer out available funds as soon as possible. Keeping withdrawals open while blocking new deposits and orders is a common feature of an orderly shutdown, as it gives users a defined period to reduce exposure and move assets before platform operations end.

Important Notice

After a careful evaluation of the Company’s operating conditions, market environment, 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… pic.twitter.com/KX3zczIrAh

— BitMart (@BitMartExchange) July 26, 2026

BitMart’s native token, BMX, fell sharply after the announcement. The token dropped by more than 60% over a 24-hour period, declining from $0.32 before the news was released to $0.09 as of press time. BMX also remained 90% below its all-time high of $0.619, which was recorded in early 2024, according to CoinGecko data.

BitMEX, Odos and Dango Also Announced Shutdowns

BitMart’s announcement came only days after BitMEX, the cryptocurrency derivatives platform co-founded by Arthur Hayes, said it would shut down on September 23. BitMEX, known as the creator of the 100x perpetual swap, operated for nearly a decade but has seen reduced prominence among traders in recent years.

Other crypto service providers have also announced closures. DEX aggregator Odos said on July 24 that it would halt all of its services at the end of July.

Dango, a competing platform that described itself as the “Endgame Exchange,” issued a similar statement on the same day. The team said it had made the difficult decision to wind down its services for “various reasons,” without specifying those reasons. Dango said trading will stop on July 29, while the Dango L1 blockchain will halt on August 13.

The next operational milestones for users and counterparties are the service-stop and withdrawal deadlines set by each platform. Those dates determine when trading access ends, when related infrastructure stops functioning and how long users have to complete any required account steps before moving funds elsewhere.