Cryptocurrency exchanges play a core role in the industry. Users of TradeSatoshi may want to move money off this trading platform as quickly as possible.
TradeSatoshi is one of those trading platforms catering to a niche audience first and foremost.
Curtain Call for TradeSatoshi
Due to it being rather unknown, many people overlook if these companies stick around.
It appears that this will no longer be the case.
According to an announcement, the company will be shutting down come March 1.
That decision has been made by TradeSatoshi’s board of directors, yet it still comes as a big surprise.
The team claims that running this exchange is no longer economically feasible.
It is not an unknown narrative among smaller crypto trading platforms in this modern day and age.
Deposits are no longer processed, and withdrawals will no longer be honored after the cutoff date.
For now, there is no indication that the company will be acquired by other investors, or make a return further down the line.
Statistics by CMC indicate how this exchange is struggling for trading volume lately.
Even its Bitcoin market is trading at 1,800 USDT, for some odd reason.
Less competition among crypto exchanges is never a good thing, but it is a dog-eat-dog industry.