BitMEX’s BMEX token has crashed by about 90% after the exchange announced plans to shut down, ending nearly 12 years in business as its Bitcoin futures market share shrank.
This development is based on reporting from CoinTelegraph, which highlighted the significant decline in the token's value following the shutdown announcement.
The shutdown marks the end of an era for BitMEX, which had been operating in the cryptocurrency space for nearly 12 years, with its Bitcoin futures market share having decreased over time.