Crypto Market Update: BitMart Announces Exchange Shutdown

JJ Bounty

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news

Here’s a quick recap of the crypto landscape for Monday (July 27) as of 10:00 a.m. UTC.


Bitcoin price update

Bitcoin (BTC) was priced at US$65,210.56 , up by 1.3 percent over the past 24 hours.

​Bitcoin price chart

Bitcoin price performance, July 27, 2026.

Chart via the Investing News Network

Bitcoin price performance, July 27, 2026.

Ether and altcoin price update

  • Ether (ETH) was priced at US$1,963.76, trading 4.4 percent higher over the last 24 hours.
  • XRP (XRP) was priced at US$1.11, trading 0.7 percent higher over the past 24 hours.
  • Solana (SOL) was trading at US$76.42, trading 1.9 percent higher over the past 24 hours.

​Today’s crypto news to know

BitMart announces shutdown after nine years in business

Crypto exchange BitMart announced Sunday (July 26) that it will wind down its trading platform after nine years of operation.

BitMart immediately halted new user registrations, deposits, and orders on Sunday at 01:30 UTC. The exchange will terminate all spot and derivatives trading on August 26 before completing its formal operational shutdown on January 31, 2027.

BitMart’s exit follows a similar announcement days earlier from derivatives venue BitMEX, marking two major exchange shutdowns in a single week.

While user withdrawals remain open, the platform warned that identity, device, sanctions, and source-of-funds checks could delay processing times as users attempt to remove funds.

BitMart previously survived a US$196 million hot-wallet breach in December 2021, where it reimbursed customer losses out of its own funds.

The announcement sent BitMart’s exchange token BMX crashing 81 percent over the past week to US$0.057, dropping its total market value to US$19.6 million.

Thailand SEC files criminal complaint against Bitkub

Thailand’s Securities and Exchange Commission (SEC) filed a criminal complaint against crypto exchange Bitkub and two former directors for allegedly submitting false financial reports, local news outlets report.

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The complaint, lodged with the Economic Crime Suppression Division, stems from a May 2021 cyberattack where hackers drained 1.7 billion baht (US$47 million) in digital assets from the platform.

Regulators allege that Bitkub hid the loss from May to October 2021 by submitting net-capital filings that showed no asset changes, violating the country’s Digital Asset Business Decree. Former directors Sakolkorn Sakavee and Thaweesap Rawan face accusations of making false entries to convince regulators that customer assets remained intact.

Shiba Inu surges 28 percent over seven days

The total meme coin market capitalization climbed 2.56 percent over 24 hours to reach US$23.73 billion, adding roughly $590 million in value in a single day.

Major tokens Dogecoin, Shiba Inu, and Pepe led the market surge alongside a broader recovery in Bitcoin and Ethereum.

Shiba Inu outperformed its peers by jumping nearly 28 percent over the past seven days to trade at US$0.000005347 following an 8.9 percent 24-hour gain. Trading volume for SHIB surged to its highest level in months as buyers pushed the token above its 50-day and 100-day moving averages.

Technical indicators show the token now approaches its 200-day moving average, which serves as the next major resistance level.

Don’t forget to follow us @INN_Technology for real-time news updates!

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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