CoinEx is shutting down after almost 9 years of operation, and honestly, this is not good news for the crypto industry.
The shutdown seems to be connected with the long market downturn, lower trading volume and liquidity, along with increasing regulatory and compliance costs.
Most trading services will be phased out by September 29, while withdrawals will continue until December 22, 2026.
CoinEx may not be the biggest crypto exchange, but when an exchange shuts down, it definitely raises questions about the current condition of the crypto market.
Lower liquidity can mean fewer trading opportunities and less competition between exchanges. It can also create more pressure on smaller crypto projects that depend on centralized exchanges.
For me, this is another reminder that crypto needs strong and sustainable exchanges and infrastructure.
Hopefully, the industry can learn from situations like this and build businesses that can survive both good and difficult market cycles.
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