How are you all? I hope everyone is well, today I will talk about a very important topic, so today a very important news for the Crypto market is that CoinEX has announced the closure of the popular Bitmart Exchange, a few days ago it also announced the closure of the popular Bitmart Exchange, why are these exchanges suddenly announcing this, even before that many exchanges have been closed,

First let's know why CoinEx Exchange is shutting down, what did they say about the shutdown,

1️⃣ Crypto market has been weak for a long time

Crypto Currency has been in a Downtrend for almost many years, as a result of which the volume in the market has decreased,

2️⃣ Trading volume has decreased

Due to the long-term downtrend in the market,

Sufficient trading fees are not coming,

This makes it difficult to run the Exchange,

Image collect Pixabay

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3️⃣ Liquidity has decreased

If there is not enough buy/sell activity in the market, it is difficult to operate the exchange.

4️⃣ Security and operational risk

The CEO of CoinEx has already announced that the security and compliance risks of operating an exchange have become increasingly difficult to manage.

5️⃣ Increasing requirements

As a result of increasing requirements, the cost and complexity of compliance to comply with the new rules of different countries has increased.

And these are the problems that various exchanges are facing, due to which it has become difficult for them to run an exchange,

Earlier, new exchanges used to come and give big airdrops, and now one exchange after another is leaving, which means that everyone's situation is bad.

Image collect Pixabay

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Now people do not want to invest in new coins / tokens, due to which normal exchanges do not get trade volume, if there is no volume, exchanges will not be able to survive. This is the big problem,

I hope everyone understands, see you in the next topic, everyone be well,