A short study of MX Token as the top native token growth in our exchange. What are its contributions towards the overall growth of MEXC?
MX Token is a cryptocurrency that is gaining significant attention in the market thanks to its utility and potential for growth. As with any cryptocurrency, the primary value of the MX Token lies in its usage as a means of exchange, store of value, or investment vehicle. However, the MX Token stands out due to its ability to contribute to the overall growth of MEXC. This article will explore the various use cases of the MX Token and analyze how it is contributing to the broader growth of MEXC.
Recap of 2022
2022 was a very tough year for cryptocurrency. Macroeconomics was suffering from a major exchange crash along with Covid-19 economic impacts. Furthermore, a wide round of domino effects made crypto firm bankruptcy a weekly headline. Despite the challenges, the crypto industry saw robust growth in terms of adoption in 2022. In fact, crypto owners are surpassing the 400 million mark worldwide and we are looking at a higher adoption rate in 2023.
A part of the growth comes from changes happening all around the industry. Of course, MEXC was no stranger to growth. In fact, MEXC was at the forefront of evolution to better serve all users. A few of the significant changes include the ocean blue theme change along with 0% maker fees. However, the MX token is one of the unsung heroes that is contributing to overall exchange growth.
MX Token Growth in the Last Quarter
The MX Token has been experiencing a remarkable growth trajectory in recent months. Its value was steadily increasing from its low point of $0.7701 in December to an all-time high of $2.1049 in March 2023. This represents a substantial growth rate of over 170% in just a few months, indicating a significant level of investor interest and demand. Check out the live price of MX Token now!
MX Token Holders Growth
The demand for MX tokens has been steadily increasing since the start of 2022, as evidenced by the significant growth in the number of token holders. In January 2022, there were around 200,000 MX token holders and wallets, but by January 2023, that number had almost doubled. By the month of March, we reach a total of more than 500,000 MX token holders.
It is undeniable that the overall positive performance of the cryptocurrency market is one of the contributing factors. However, the biggest factor of MX token growth came from its utility purposes and future potential.
MX Token Usage
MX tokens serve as a representation of the exchange, but they also have multiple functions and benefits. These functions include:
- Trading Fee Deduction: MX token holders can activate the MX fee deduction function, which provides a 10% discount on trading contracts and a 20% discount on spot trading fees.
- MEXC Launchpad: This is an exclusive section for MX token holders, where they can participate in high-quality initial project airdrops by holding their MX tokens for a certain period.
- MEXC Kickstarter Campaign: As an MX token holder, users can vote and support projects they like and receive an airdrop according to the reward pool’s available amount after the voting session ends.
- Increase Commission Ratio with MX Tokens: Holders of MX tokens can invite friends to trade with a higher rebate ratio, making trading with friends more fun.
MEXC User Overall Growth
According to the graph above, there has been a steady increase in the number of MEXC users since 2022. There is a current total of over 10 million users worldwide, with growing popularity in the Asian market. This growth can be attributed to the trust and confidence of our users on our platform. As a result, MEXC has climbed up the ranks to become one of the top spot and derivatives trading platforms worldwide.
Furthermore, the growth of MX tokens is highly correlated to the growth of the MEXC exchange. As the value and utility of MX tokens continue to expand, the number of MEXC users also increases. Similarly, as the popularity of MEXC grows, the value of MX tokens also rises. This symbiotic relationship between the MX token and the MEXC platform reinforces the importance of MX tokens to our users and serves as a key driver of growth for our exchange.
Conclusion
Overall, the steady growth and adoption of MX Token and MEXC exchange serve as a testament to the trust and confidence of our users on our platform. Therefore, it is high time for you to check out our MEXC trading page and find out what we have to offer! You can learn more about crypto industry news and interesting articles to get you up to speed with the crypto world. Happy trading!
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