Following BitMEX's announcement of shutdown, its platform token plunged over 99%. Market data shows that, likely due to BitMEX's shutdown announcement, its platform token (issued in 2022) dropped 99.69%, briefly experiencing liquidity issues. Previously, the crypto exchange BitMEX announced it would shut down on September 23 and has ceased new user registrations. Vanar announced its migration to Base, increasing the total supply of its token VANRY to 10 billion. Vanar released a公告 stating it will no longer operate solely as a Layer 1 blockchain but will instead focus on building an AI Organizations economy and migrate to the Base chain. For tokens, existing VANRY holders will migrate at a 1:1 ratio, with no change in holding amounts; however, the total supply will increase from 2.4 billion to 10 billion to support AI O
BitMEX Platform Token Drops 99.69% Amid Exchange Shutdown, Vanar Migrates to Base Chain
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Summary
On-chain data shows that the BitMEX platform token fell 99.69% after the exchange announced its shutdown on September 23 amid reported liquidity issues. Vanar revealed it will migrate to the Base chain and increase the total supply of VANRY from 2.4 billion to 10 billion. Additional token listings on Base are anticipated as the project progresses.
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