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In light of the recent market volatility, cryptocurrency exchange BitMEX has delayed the launch of its native token, BMEX.

The cryptocurrency futures and spot exchange said it is ready to list BMEX for trading, but the current market environment is “not ideal” for token holders. From a peak of over $60,000 in November, Bitcoin has slumped below $20,000 due to the recent market turmoil.

“Bear markets are not easy; We have seen our share over the years and remain strong even as Bitcoin is at much lower levels. ” Looking forward, listing BMEX on our spot exchange remains our top priority, and we hope to celebrate this milestone with you soon.”

Requests for more information about the delayed listing date were not immediately responded to by the exchange.

In December of last year, BitMEX announced the launch of its native token, and as of January of this year, users have received 1.5 million tokens via airdrop.

Tokens are earned over five years with a maximum supply of 450 million. The tokens can now be staked and used by users to reduce trading fees and withdraw funds.