Ethereum withdrawals from BitMart jump after exchange wind-down notice

Withdrawal activity accelerates

Blockchain data tracked by CryptoQuant shows Ethereum withdrawal transactions from BitMart climbing above all prior readings seen since July 2025. The increase points to users transferring ETH out of the exchange following uncertainty around access and the platform’s announced shutdown process.

The source article said BitMart briefly halted withdrawals within the last day before reopening them. That reopening was followed by an immediate jump in withdrawal activity as users sought to remove assets while the service remained available.

BitMart shutdown timeline

BitMart announced on July 26 that it would shut down trading in stages. On that date, the exchange paused registrations, deposits, and new trading orders. Full trading services are scheduled to end on August 26.

According to the notice, withdrawals will remain open through January 2027. That leaves existing customers additional time to retrieve holdings, even after trading stops, though the withdrawal surge suggests many users are choosing not to wait.

The article said the decision caught many remaining users off guard. It also described BitMart as having suffered years of declining liquidity, which had already pushed it out of the top 10 exchanges by trading volume before the closure announcement.

Broader shutdown trend in 2026

BitMart’s exit was presented as part of a wider run of shutdowns in 2026. The source article said BMX, the exchange’s token, fell after the wind-down announcement, adding to concern among traders.

It also noted that BitMEX had confirmed its own market exit three days earlier. Separately, Dango was reported to have halted its blockchain this month and shut down after determining there was no path to durable success.

Some analysts cited in the source framed the recent closures as a market correction rather than a sign of broader stress. In that view, weaker platforms are being cleared out while the rest of the market remains largely stable. Industry watchers mentioned in the article suggested that smaller exchanges facing similar liquidity issues could also be pushed toward consolidation or closure before the end of the year.

ETH holds steady

Despite the rush to withdraw from BitMart, the source article said Ethereum itself remained relatively stable, trading near $1,881. Broader market trading volume was described as largely unaffected by the BitMart developments.

That has led some observers to treat the withdrawal jump as a localized response to one exchange’s wind-down rather than evidence of a wider retreat from centralized crypto platforms. Even so, the latest on-chain figures indicate BitMart users are actively moving assets as the exchange approaches the next steps in its shutdown schedule.