MEXC 2022 Recap: Futures Business Grows by 1200% and Exceeds 10 Million Users
Recently, the cryptocurrency trading platform MEXC released two retrospective articles: Major Events in Cryptocurrency Market 2022，Which Affected You the Most? Blog-Top 10 Highlights of MEXC 2022, which respectively reviewed the cryptocurrency market in 2022 and the development of MEXC in one year.
2022 is the most dramatic year for the crypto industry. It has experienced many far-reaching black swan events, such as the LUNA crash and the FTX thunderstorm. For users, project parties or cryptocurrency trading platforms, capital institutions, etc., 2022 was a year of suffering.
Also, this year, MEXC Global continued to carry out in-depth optimization of the Futures, launched the second-level K-line function, launched NFT Index and other products at the same time, upgraded the brand color to “Ocean Blue” and other measures, not only withstood the crypto market In the second half of this year, but its global users also exceeded 10 million, its Futures liquidity reached the first place in the world. Its Futures business grew by 1200%.
The liquidity of the Futures ranks the first, and the business has increased by 1200%
In 2022, MEXC has been focusing on the optimization of Futures products, continue to optimize the basic liquidity according to the needs of users and provide second-level K-line functions, contract maker 0 rate activities, etc., for contract products.
Blockchain media Cointelegraph reported that as of September this year, MEXC‘s Futures liquidity had reached the world’s first. Liquidity indicators are crucial for contract trading. There are always many bids and offers in a liquid market, and traders can easily enter and exit. The better the liquidity, the smaller the spread and the lower the transaction cost. A market with poor liquidity may have a significant price difference, which increases the risk of being liquidated under extreme market conditions.
On October 25, MEXC upgraded the functions of Futures products and launched the second-level K-line function. MEXC is the first cryptocurrency trading platform in the world to launch the second-level K-line function of Futures. The added second-level K-line, which takes “1 second” as the period, generates a single candle chart, which is more timely and intuitive to reflect transaction information, such as real-time prices, trading volume, and market depth.
A few days ago, MEXC once again announced the growth of its contract business. Its average daily trading volume has increased by 1200%, and it also launched a zero-fee activity for Futures Maker. According to Cryptorank data, the daily futures trading volume of mainstream currencies BTC & ETH and MEXC ranks fourth globally.
Burn $246 million MX
In December 2021, MEXC launched the MX Token2.0 plan. Through the voting of the MX Token community, not only will one MX held by the MEXC Foundation be directly burned, but also, the passed rules will increase the intensity of repurchase and destruction of MX. 40% of all platform profits are used to buy back and burn MX.
The data shows that from December 7, 2021 to December 7, 2022, a total of about 110,332,145 MX were burned. Among them, 100 million MX will be burned directly in December 2021; in 2022, 2,266,655 MX will be burned by repurchase in Q1, 3,876,215 MX will be burned by repurchase in Q2, and 4,189,275 MX will be burned by repurchase in Q3. Worth around $246 million.
The first platform to launch blue-chip NFT Index
In the first half of this year, the NFT market was booming, but blue-chip NFTs often cost a few ETH or even dozens of ETH, which discouraged many people. MEXC launched the NFT Index for the first time in the world in April. By purchasing carefully selected blue-chip NFTs, such as Moonbirds, Clone X, Azuki, Meebits, Doodles, etc. as support, it splits them into a certain number of tokens and launches corresponding NFTs Index. The launch of NFT Index is mainly to reduce the threshold for users to enter NFT. Users can buy or sell a certain share of NFT Index at any time without buying a complete NFT. When the share of NFT Index holders reaches a complete NFT, they can exchange the corresponding NFT.
Leveraged ETFs lead the ETF market
It is understood that the MEXC leveraged ETF is an open-end ETF product launched in Q2019. Its characteristics are that the trading rules are as simple as spot products, no margin is required, no liquidation rules, and it has a compound interest effect. According to Cryptorank data, among similar products on the entire network, the trading volume of MEXC leveraged ETF ranks first.
Online Fan Token Trading Zone
The 2022 World Cup in Qatar has promoted the interest of cryptocurrency traders in World Cup-themed fan tokens and set off an independent track market in the second half of the year. Top exchanges such as MEXC and Binance successfully launched fan token trading areas. Unlike other fan tokens, fan tokens are utility tokens associated with clubs, teams, or brands, granting holders special fan privileges and enhancing fan-club interaction. MEXC is the exchange with the largest number of online fan tokens, and 39 fan tokens have been launched, such as CHZ, POR, ARG, BFT, ACM, etc.
MEXC x Coinbase x Trust Framework
The TRUST network is an alliance of the world’s leading cryptocurrency exchanges that are designed to disclose necessary data & Privacy Prevention. MEXC has joined TRUST Network this year, committed to focusing on protecting customer privacy and information security with 62 top companies worldwide, including PayPal, Binance, etc.
Trust Network Solutions:
- Ensure the correctness of information transmitted
- Avoid leakage of personal information stored on third-party servers
- Prevent misuse of sensitive information
M-Ventures completes brand upgrade, capital scale reaches $200 million
On September 28, M-Ventures, a fund under MEXC, completed its brand upgrade, and its own funds reached $200 million. M-Ventures mainly focuses on three investment priorities in the primary market, namely Web3, new public chain ecology and infrastructure. In the past 3 years, M-Ventures’ investment portfolio includes dozens of outstanding projects, such as Polkadot, Avalanche, Manta, etc.
The brand color upgraded to “Ocean Blue”
On November 18, MEXC completed the brand color upgrade from “forest green” to “ocean blue.” It is understood that “Ocean Blue” was originally a brand color suggestion put forward by Korean-speaking users and was first upgraded at the Korean station after evaluation by MEXC. After receiving wide acclaim from Korean users, user surveys were conducted in several key countries and regions. Following the suggestions of the vast majority of users, it was finally decided to upgrade the brand color of the entire site to “Ocean Blue.”
“Ocean Blue” means “All the rivers run into the sea.” The upgrade of the brand color “Ocean Blue” not only conforms to the concept of “Users first, MEXC’s Changing for you” but also better interprets the platform’s characteristics – secure and professional, open and inclusive, keeping exploring, and the future of hope.
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