MXC Exchange partners with BSC & Heco, $MX expanding scenarios are undervalued over 1000%
There have been a lot of moves at MXC Exchange.
On February 22, MXC Exchange and Binance Smart Chain (BS)C reached an in-depth partnership. The MXC token MX will be connected to the Binance Smart Chain as a cross-chain asset to expand BSC chain lending, liquidity mining, DEX transactions and other scenarios. At the same time, MXC Exchange will also launch a BSC asset zone, and more BSC assets will be listed. In the future, the two parties will also expand more cooperation possibilities and scenarios around BSC and MX.
Prior to this, MXC Exchange has also reached cooperation with Heco, the Huobi ECO Chain. The scope of cooperation includes: MX will be connected to the Heco as a cross-chain asset to open up lending, liquidity mining, DEX transactions and other scenarios; Huobi Global and MXC Exchange will increase the deposit and withdrawal of MX and Heco as well as optimize User experience; MXC Exchange will launch a Heco Asset Zone to jointly create diversified ecological application scenarios.
We could tell that MXC Exchange has a very clear goal, which is to form a cross-complementary relationship with top exchanges and expand its application scenarios on the public chain built by them.
In this context, the price of $MX has skyrocketed, with an increase of 302.68% in the past week, and its highest historical increase reached 1017.18%.
Is $MX the undervalued $BNB?
In fact, the market generally believes that the current value of $MX is undervalued. The current valuation of exchange tokens is generally around 10 times PE. Binance’s full-year profit in 2020 was around $800 million to $1 billion. Thus its market cap should be in the range of $8 billion to $10 billion. At present, the market value of BNB has reached 45 times the PE level.
According to the MXC, a total of about 7,189,900 MX was burnt in 2020. Estimated based on the median monthly $MX price, the trading fee earned by the platform is about 9,423,400 US dollars. The current market value of $MX is only 12 times the PE level, and if calculated according to the annual average price of $MX in 2020, the PE level is much lower than this estimated value, because the price increase of MX has reached 858.33% since the beginning of 2021.
Therefore, the market value of the $MX is far underestimated. Compared with the tokens of other mainstream trading platforms, its current price is still on the eve of the return of value.
As the token of the MXC Exchange, $MX’s application scenarios are buy backing 100% of the spot and ETFs profit, commission deduction, project voting renewal, new draw bonus, MX DeFi staking, etc.
Throughout 2020, MXC had the earliest layout in DeFi, Polkadot, NFTs, Layer2, etc. There were nearly 100 tokens and coins listed on MXC, and the high gains had attracted huge user traffic, the trading fees earned from this traffic have accelerated the process to burn $MX.
Recently, the application scenarios of $MX have begun to expand from within the platform to outside the platform. The number of transactions on the Heco reached 42.036 million, and the number of funds on the chain reached $2.819 billion. By cooperating with the Heco, $MX can be used as a cross-chain asset to connect to the Heco, which will open up scenarios such as loaning, liquidity mining and DEX trading. At the same time, the Heco projects being listed on MXC will also bring value to $MX.
It is understood that MXC may also cooperate with the public chains built by other top trading platforms to implement the implementation of MX entire network transaction application scenarios. On February 11, MXClaunched the MX developer “MOASIS” program and established a $5 million eco fund to open up the use of MX in various public chains and applications. All asset developers who wish to expand the MX scene can sign up for it.
In comparison with the market value of other exchange tokens, BNB’s market value is $45.266 billion, that of HT is $4.383 billion. The current value of $MX is only $120 million. Obviously, there is still a lot of upside space. “If you have missed BNB, then don’t miss $MX this time,” said members of the Chinese crypto community lately.