Right after Bitcoin miners started shutting down their operations and some Bitcoin mining giants began closing their mining operations, it is time for crypto exchanges to enter the latest cryptocurrency news and ‘stick’ to the trend.
In fact, this is already happening with Liqui, a small but long-running crypto trading company from Ukraine. According to the official announcement today, Liqui would close down its operations.
In a goodbye note shared on the site, the Ukranian exchange said that it was unable to provide liquidity to its customers which is why it had no economic reason to continue its services. As the exchange revealed in a note:
“We also do not see any economic point in providing you with our services. However, we do not want to return to where we were a month ago. Hence, we decided to close all accounts and stop providing our services. It broke our hearts to do that.”
Liqui also admitted that the overlong bearish cryptocurrency market was the reason for quitting, further adding that the market had changed significantly since 2017.
This move shattered the crypto community towards speculating the beginning of the death of crypto exchanges. According to Ran Neuner of CNBC, the closing down of more trading companies in 2019 already began.
“I’m expecting more exchanges to shut down in this bear market,” he said on Twitter. “Last year everyone rushed to start an exchange. Exchanges require infrastructure that is expensive to maintain and most won’t survive this,” Neuner commented.
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