Digital-asset exchange BitMart has joined the growing list of crypto businesses shutting down in 2026 after deciding to wind down its exchange operations. This year, service closures have spread across the industry, from exchanges to decentralized finance, or DeFi, projects. The prolonged market downturn is fueling a broader shakeout in the digital-asset sector.

BitMart said on July 27 on its official website that it plans to suspend exchange operations in phases. The company said the decision reflects its financial condition, market environment and future strategic direction.

BitMart’s native token, BMX, tumbled after the announcement. As of 4:51 p.m., it was trading at $0.06389, down 20.67% from a day earlier. The token has plunged about 80% from a week earlier.

BitMart is not the only digital-asset project to announce a shutdown this year. According to digital-asset influencer Star Platinum, 66 projects have either ended operations this year or are set to do so. They include perpetual futures exchange BitMEX, Dango and Across Protocol.

The wave of closures reflects weakness in the digital-asset market and increasingly selective bets by venture investors. Galaxy Digital Research said investment in blockchain and digital-asset startups fell 50% from the previous quarter to $4 billion in the first quarter. Deal count totaled 355, with 57% of the funding concentrated in specific projects that had already demonstrated business performance.

Projects tied to real-world asset tokenization and stablecoins, or digital assets pegged to fiat currencies, have recently drawn strong interest as investors gravitate toward ventures with revenue potential. According to RWA.xyz, the value of tokenized real-world assets stood at $36.82 billion as of July 27, up 3.94% from a month earlier. That was about 50% higher than at the start of the year.