A small crypto to crypto exchange has announced they are no longer able to keep up with operations amidst a prolonged crypto bear market.
“Liqui is no longer able to provide liquidity for the Users left,” they said in an email to their users and on the frontpage before adding:
“You will be able to withdraw your Digital Assets through our website within 30 days after this message was sent. If you did not withdraw delisted Digital Assets since we announced changes in our policies, you will also have another 30 days from the date this message is sent…
We may be back soon. However, that depends on the market which has significantly changed since 2017.”
The exchange tried to differentiate itself by being one of the first to list new, sometimes obscure and sometimes popular, coins or tokens.
We even used them once to get a small amount of some token for one of our testruns, with the exchange only requiring an email address and password.
That unique selling point, however, isn’t holding up in this bear market. That’s because while there was a new coin or token almost everyday in 2017, now that space has cooled down considerably after SEC’s heavy handed intervention.
They clearly could not compete in more established trading pairs where far bigger exchanges dominate, so closing their doors.