Why would MXC Exchange be the next Binance? Will $MX be the next $BNB?
The soar of MXC Exchange exchange token $MX has attracted the attention of Bloomberg recently. February 8, Bloomberg reported that based on spot, leverage, contract, ETF, index, contract, PoS, and OTC services, MXC Exchange, a reputable one-stop cryptocurrency service provider, will continue to grow and develop with the entire ecosystem. MX Token ($MX) reached an all-time high to $0.71.
According to the data of Crypto Departement on February 6, among the top five exchange tokens, MX was the one with the highest revenue that day, with a single-day increase of 62%.
In the following three days, MX hit a new all-time high of $0.8728, a cumulative increase of 551.34 year-to-date, the highest increase in history of 2028.78%.
As we all know, the growth of exchange tokens has benefited from the substantial increase in trading volume of trading platforms in the bull market. As of 11:00 on February 10th, Binance token BNB has increased 70.84% for three consecutive days, with a historical cumulative increase of 115680%; Huobi token HT has a three-day cumulative increase of 241.88%, and a historical cumulative increase of 1345.78%.
Industry analysts believe: “Among the top trading platforms around the world, MXC Exchange had a great performance in terms of listings in 2020. It was the first exchange to list DeFi tokens, Polkadot tokens, NFTs and Layer 2 and hundreds of high-quality projects. Users would have an opportunity to invest at a lower cost to obtain higher gains.”
The person pointed out: “These projects that got listed in the early days of the bull market have reached several times or even dozens of times increase in 2021, such as the cross-chain project DOT, DEX token UNI, SUSHI, and other types of DeFi projects such as AAVE, BADGER, etc. These projects have attracted huge trading volume for MXC Exchange.”
“However, judging from the current application scenarios, historical gains and market value of MX ($100 million), the current value and market value still don’t match the development of the platform, we can still expect a higher pump.”
Why is it “value” instead of “price”? Because the value of the exchange token increases with the development of the platform itself, it is like buying a company’s stock.
From a strategic point of view, MXC Exchange is a trading platform that focuses on global compliance. It has obtained regulatory license in the United States, Estonia, Australia, Canada, and Switzerland, so that its business development has sufficient compliance protection.
Through in-depth cooperation with payment companies such as Simplex, Banxa, Moonpay, Menapay, Mercuryo, etc., MXC Exchange has expanded compliant payment channels in multiple regions and supported local users to purchase digital assets using VISA and MasterCard and debit cards.
MXC Exchange is a platform that places great emphasis on user experience. In terms of products, the platform has made efforts in the trading experience of top market valued coins and derivatives. It has successively upgraded leveraged ETF, spots, leverage, and contract trading systems, and continuously optimized key trading indicators such as liquidity, market spreads, and matching efficiency. In addition, index products have been launched to meet the needs of users as much as possible and provide users with a more convenient one-stop trading experience.
In terms of the market, the platform insists on strictly controlling the quality of the listing projects, and at the same time explores high-quality ecological concept projects such as DeFi and Polkadot.
Since mid-2019, more than 10 Polkadot projects including KSM, EDG, PCX, RING, LINK, COMP, AVA, NEST, JST, YFI, and dozens of high-quality DeFi projects have been listed, as well as concept assets such as NFTs, storage, grayscale, layer2, and rebase. These tokens are available on the spot market, leveraged trading, ETH, contracts and PoS mining pool etc. It seems you can trade all high-quality tokens on MXC Exchange exchange.
What’s the relationship between MX token value and the exchange platform?
MX is the equity certificate of the MXC Exchange trading platform itself. The total supply of the token is 1 billion. Because the amount of deflation is determined by the trading volume of the platform — the exchange will buyback and burn the trading fees generated via spot, leverage, ETF, contract, PoS mining pool every month.
At the same time, holding MX is like holding stocks. Holders can enjoy a number of rights such as asset appreciation and voting to list. Specifically, MX holders can enjoy a 20% commission deduction when trading spots; voting and renewal of crypto assets can receive transaction fee rewards; participating in the lottery of SpaceM and M-Day activities qualification or bonus for the number of tickets; Participate in MX DeFi staking and get corresponding mining asset rewards.
Starting July 2019, the platform has been buybacking 100% of MX earned as trading fee and burns it every month. At present, about 390 million MX has been burned.
Since 2020, the MXC Exchange trading platform has conducted a total of 8 SpaceM and 16 M-Day events, and initiates vote to list, renewal voting, and MX DeFi mining activities every month. MX holders will have a greater chance to win the asset lottery and win more staking rewards, as well as gaining rewards such as trading fee dividends.
At the same time, as the value of MX continues to increase, MX holders, like Tesla stock holders, have received “stock” appreciation gains.
From these perspectives, MXC Exchange is now a small but rising platform, but it is likely to become the next Binance, and will $MX become the next $BNB? This is something we could think about.
