BitMart and BitMEX Shut Down This Week; 3 Exchanges Closed in July as Analysts Call Bottom

BitMart began winding down on July 27, following BitMEX's shutdown announced three days prior. AscendEX closed on July 1, bringing the total exchange closures this month to three. Analysts including Moonrock Capital founder Simon Dedic and Crypto Banter CEO Ran Neuner characterized the shutdowns as a healthy market reset and potential sign of a cycle bottom, arguing the closures reflect necessary industry consolidation.
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