The BMEX token, associated with the BitMEX cryptocurrency exchange, has seen a dramatic decline in value. Its price plummeted around 90% following the exchange's announcement to cease operations, effectively ending nearly 12 years of business.
Source
"BitMEX Token Crashes 90% Amid Exchange Shutdown" — Cointelegraph
This article is Bitcoincryptos' summary and analysis of reporting originally published by Cointelegraph. Read the full original report at the link above.
BitMEX's Bitcoin futures market share had been dwindling in recent times, contributing to the eventual shutdown decision.