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BitMEX and BitMart face shutdowns as centralized trading volumes slump
By April 2026, spot trading volume across major centralized venues fell to $1.05 trillion, the lowest monthly total in 25 months, according to CoinDesk Data Exchange Review.
CoinDesk reports that BitMEX, a crypto derivatives exchange known for inventing the perpetual swap in 2016, will permanently shut down in September after years of regulatory and legal troubles. The outlet also cites BitMart as another platform whose closure plans have heightened concerns among users, including a stated 30-day window to close trades and six months to withdraw funds.
The report links the wave of closures and bankruptcies, including Movement Labs and Storj Labs, to collapsing retail activity and rising compliance costs. Analysts quoted by CoinDesk argue that smaller exchanges are being squeezed as retail speculation fades, while only larger, well capitalized platforms with strong compliance, transparent reserves, and diversified services may be able to endure.
CoinDesk says centralized exchanges are currently seeing their quietest stretch in over two years. It notes that spot trading volume across major venues fell to $1.05 trillion by April 2026, the lowest monthly total in 25 months, and frames that as a sharp decline from peak market cycle activity.
The outlet also reports that analysts believe more exchange shutdown announcements could follow if retail volumes do not rebound. Jason Fernandes, co-founder of AdLunam, attributes the shift to a steep fall in retail trading and says he does not expect retail activity to return to the levels seen in 2021.