75 crypto exchanges have closed since the beginning of the year
According to Crypto Wisser, at least 75 cryptocurrency exchanges have ceased operations since the beginning of this year for various reasons.
According to the company’s list, five of them were fraudulent, four were closed due to hacking, two by local authorities, and the rest for other reasons. At the same time, 31 trading floors stopped working of their own free will, and the remaining 35 suspended operations without explanation.
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Experts attribute the rapid disappearance of dozens of exchanges to the rise of decentralized platforms and DeFi, which is why small projects fail. Another important factor is regulatory pressure. The continued interest from hackers also has a significant impact.
However, in parallel with exchanges, altcoins and tokens are disappearing at the same rapid pace. According to deadcoins.com, over 2,000 projects no longer exist.