BitMart’s exchange token BMX fell more than 53% over the past 24 hours, according to Coingecko, with the token trading at $0.0805 and its market capitalization dropping to $27.2 million. The move came after BitMart said it would wind down trading operations in stages. Starting at 09:30 on July 26, the platform began gradually stopping new user registrations as well as crypto and fiat deposits. Futures accounts were shifted to reduce-only mode, while spot trading stopped accepting new orders. BitMart also said that from 09:00 on Aug. 26 it will halt all spot, futures and other trading services, with full exchange operations scheduled to end at 23:59 on Jan. 31, 2027. BlockBeats had previously reported that before the shutdown notice was released, BMX had already come under selling pressure around 19:35 on July 24, falling more than 60% within an hour and briefly dropping to around $0.11. The token later rebounded to $0.142 at one point, narrowing its 24-hour decline to 53%, while its market cap stood at about $48 million at that time.
BitMart’s platform token BMX fell more than 53% over the past 24 hours, according to Coingecko. The token was quoted at $0.0805, and its market capitalization had dropped to $27.2 million.
Earlier, BitMart announced an orderly wind-down of its trading business. Under the timetable disclosed by the exchange, from 09:30 on July 26 it would gradually stop new user registrations, along with crypto and fiat deposits. Futures accounts were moved into reduce-only mode, and spot trading stopped accepting new orders.
From 09:00 on Aug. 26, BitMart will shut down all spot, futures and other trading services. The platform said it plans to formally cease exchange operations at 23:59 on Jan. 31, 2027.
BlockBeats had previously reported that before BitMart issued its shutdown notice, BMX was hit by selling around 19:35 on July 24. The token fell more than 60% within one hour and briefly dropped to around $0.11. It later rebounded to $0.142 at one point, narrowing the 24-hour loss to 53%, while its market capitalization was about $48 million at that time.
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