Bitrue says it is seeing a sharp increase in new users this week, reporting a 350% jump in new sign-ups and a 200% rise in first-time traders as customers of the shuttering BitMart exchange look for a new home for their assets. The exchange is offering a bonus of up to 1,600 USDT per user for those who join and complete onboarding tasks during the campaign window.
The timing lines up with BitMart's own wind-down. The exchange has suspended new registrations, deposits and trading order placement, with all trading services set to end on August 26, 2026, and the platform scheduled to fully close on January 31, 2027. BitMart has told users to submit withdrawal requests before 05:00 UTC on August 26, leaving a narrow window for anyone still holding funds there.
A Familiar Pattern When Exchanges Wind Down
Rival platforms routinely compete for displaced users whenever an exchange shuts its doors, and Bitrue's campaign follows that pattern directly: sign-up incentives, futures access and staking products pitched squarely at users who need somewhere new to move their holdings before a hard deadline. According to Bitrue's own blog post on the closure, the exchange has positioned itself as offering a broad range of crypto assets, futures trading and staking services to absorb that migrating user base.
Related: Binance to Cut Off HTX, EXMO and 9 Other Platforms Starting Aug. 23
Whether the reported sign-up figures translate into lasting market share for Bitrue will depend on how many BitMart users complete the move before the August 26 deadline, and how the exchange's offering compares once the initial incentive period ends. For now, the numbers reflect a short-term surge tied directly to a competitor's exit rather than organic growth.
