Simplify Crypto

Exchange Graveyard

Exchange Graveyard

According to Crypto Wisser, 2020 is already the year with the record for exchanges that closed in a single year.

We managed to account for 84 closed exchanges this year, already the largest in 2019 (80) and the year has not yet ended.

All or almost all exchanges listed are unknown to me and it could be that they did not have a large volume.

In total, 189 exchanges have been closed since 2014.

There are different reasons for term closed exchanges:

  • 9 closed due to hackes;
  • 21 closed due to the fact and are scams;
  • 78 simply closed for no known reason;
  • 73 decided to finish their business;
  • 7 closed due to government actions;
  • 1 to this day it is not known why it closed.

I see a positive point in this, because although people for sure have lost money with these closings, it shows that our ecosystem is getting more and more mature destroying what does not add value to it.

I'm just sorry it has to be done this way.

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Simplify Crypto
Simplify Crypto

Trying to help people to understand the crypto world from the basic concepts to the crypto projects purpose. My articles are publish in Publish0x and Hive

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