Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,165 trillion. Bitcoin is up by over 2% after a rollercoaster of a week. Ethereum decreased by almost 1% over the past seven days. XRP gained more than 15% in value this week. Almost all altcoins are trading in the green, with very few exceptions. The DeFi sector decreased the total value of protocols…
Bitcoin Soars Over $25K and MEXC (MX) Hits Intra-Year High
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With Bitcoin surging to reach a new 2023 high, MX has been the top performer in exchange tokens, with a 7-day growth of 32%.
Bitcoin’s price rising over $25,000 has sparked a frenzy of activity in the cryptocurrency market. With investors flocking to take advantage of the price gains, the trading volume for top exchanges has significantly increased.
As one of the leading exchanges, MEXC announced that its futures business made a significant breakthrough, with an average daily trading volume growth of 1200%.
- BTC was recently trading at about $25,247, rising 16.61% in 7 days. Bitcoin last traded over $25,000 in June 2022.
- In the last two months, MEXC Coin (MX) has surged upwards, racking up an 81.82% increase and reaching a 7-month high of $1.44 on Feb. 16.
- MX is currently trading at $1.21 with a 24-hour trading volume of $2,954,282.
What Is Pushing The MX Rally?
As of September 2022, MEXC has exceeded 10 million users, and the platform’s cryptocurrency liquidity has already ranked first in the world. MEXC’s deep liquidity works to support the MX token, providing investor confidence that positions can be entered and exited without deeply impacting the market price.
- MEXC’s commitment to “User First, MEXC’s changing for you” has earned it recognition as one of the Top 10 Most Popular Cryptocurrency Services by Cloudflare. The ranking is widely considered the definitive report card on corporate influence worldwide, and also boosted the market recognition of MEXC and led to a surge in the price of MX.
- The MEXC Launchpad presents an exciting opportunity for holders of MX to receive airdrops during initial listings. Recently, the platform introduced its latest Launchpad Project, DeHeroGame, which is a pioneer in GameFi 2.0 and utilizes NFT TCG technology. This launch has sparked high demand for MX staking.
Andrew Weiner, VP of MEXC, said:
We never stopped focusing on our customers throughout the general market’s up and down. An important part of backing our customers is giving them confidence when they trade, so we’ve reduced our trading fees to the lowest in the market.”
MEXC has recently announced revised fees for trading on its platform. The new fee structure includes a 0% maker fee and a 0.03% taker fee for futures trades. The maker fee for spots is also 0%, with a taker fee of 0.1%.
On average, cryptocurrency trading platforms charge a fee rate between 0.02-0.06%. Following this rate adjustment, MEXC has become the platform with the lowest trading fees across the entire industry. Without a doubt, such competitive price rates are very attractive to most cryptocurrency users.
Antonio Wu – PR Lead, MEXC Global
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