Today, Tuesday, Trade.io announced the suspension of all trading activities on its cryptocurrency exchange. The decision was made due to the poor state of the cryptocurrency markets, but the company emphasized that the move is only temporary.
The platform then cited major reasons – fake volumes, scam projects, a massively unregulated cryptocurrency environment, a huge marketing budget and an increased cost of infrastructure – which forced it to make this harsh decision.
As the company said, “This is just a financial decision. Despite the success of our relaunch, it has become clear to us that in the current market conditions, the exchange is very far from making a profit.”
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