- Bitmex delisted 65 derivative contracts and trading pairs in July, a sharp increase from just 19 in the prior six months.
- The exchange cited “insufficient trading interest” for the accelerated delistings, signaling declining platform activity.
- This wave of delistings follows BitMEX’s broader decision to wind down its exchange after 11 years in the crypto derivatives market.
BitMEX has dramatically accelerated the delisting of its trading products in July, removing 65 derivative contracts and spot pairs as part of a wind-down strategy that signals waning interest on the 11-year-old crypto derivatives exchange. The exchange attributed the purge to “insufficient trading interest,” according to its website, revealing a stark drop in user engagement.
The delisting wave began in early July with the removal of 21 derivative contracts, followed by nine spot pairs two weeks later. Consequently, on Thursday, BitMEX added another 35 derivative contracts to its delisting queue, bringing the monthly total to 65. This represents a massive escalation compared to just 19 delistings across the entire first six months of the year.
Meanwhile, this rapid removal of trading instruments offers a clear glimpse into the platform’s declining activity leading up to its announced shutdown. The exchange’s rationale for each batch remained consistent, with officials citing a lack of trading interest as the driving factor for each cull.
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