1. Average Trading Volume per User for New Tokens Increased 73.9% MoM, with Capital Highly Concentrated in Robinhood Chain
In July, the average trading volume per user for new tokens on MEXC increased by 73.9% month-on-month. Unlike the previous month, when capital was concentrated in AI and DeFi infrastructure, funds returned to memecoins this month and became notably concentrated in the Robinhood Chain ecosystem. Six of the top 10 tokens by spot trading volume came from this new chain.
Robinhood Chain is an Ethereum Layer 2 built by Robinhood using Arbitrum Orbit. Its mainnet launched on July 1 to provide on-chain infrastructure for real-world assets such as tokenized stocks. However, the first asset to generate significant trading volume was not a tokenized stock, but the meme asset CASHCAT. Two other memecoins, HOODRAT and TENDIES, subsequently followed this wave of trading activity.
Beyond memecoins, the ecosystem has expanded into token issuance tools and asset protocols. PONS provides token launch services, ARROW allows users to borrow stablecoins using tokenized stocks as collateral, while INDEX converts trading fees into tokenized stocks that are distributed to token holders. MEXC promptly listed popular assets from this emerging ecosystem, enabling users to capture early-stage trading opportunities at the earliest possible time.
The remaining positions in the rankings were divided between BNB Chain and Solana. On BNB Chain, two memecoins, CZ and TCC, secured positions on the list. Both tokens originated from a community guessing game held in early July. On Solana, the memecoin JIMOTHY and the SocialFi project ANTFUN each secured one position.
2. Top Gainers Shifted from AI Narratives to Memecoin Dominance
In July, the average peak gain among the top 10 newly listed tokens was 1,371%. STONKBROKER ranked first with a peak gain of 2,390.8%, followed by PONS at 2,225.2% and KET at 1,784.5%.
The narrative composition of this month’s top-gainer rankings shifted significantly. Memecoins occupied six of the top 10 positions, replacing AI as the main source of high-performing assets. Only one AI-related asset, WOOD, entered the rankings. Solana accounted for three positions in the top 10 this month—KET, JIMOTHY, and CATE—all of which were memecoins, indicating a notably narrower range of themes compared with the previous month. MEXC continued to rapidly cover early-stage assets across these ecosystems, providing users with more diverse trading opportunities.
3. TradFi Stock Futures Trading Volume Increased 111% MoM as the Share of Individual Stocks Continued to Expand
In July, MEXC’s TradFi futures trading volume increased by 27% month-on-month, while the number of available instruments grew by 37%, reflecting simultaneous expansion in both asset coverage and trading volume. Individual stocks accounted for 30% of total TradFi futures trading volume, marking the third consecutive month of growth as trading activity continued to shift toward equity assets.
Within the TradFi futures segment, stock futures trading volume increased by 111% month-on-month, with the storage sector delivering the strongest performance. SanDisk (SNDK) increased by more than 15 times month-on-month and ranked third in total TradFi futures trading volume for the month. SK Hynix (SKHYNIX) increased by more than 12 times and ranked ninth, while Micron (MU) increased by 130% and ranked seventh. Together, the three assets accounted for 18% of total TradFi futures trading volume in July. MEXC currently covers major storage-sector assets across the United States, South Korea, Japan, and China, while the number of individual stock instruments increased by 35% month-on-month.
Precious metals remained the main source of TradFi trading volume during the month. The two gold-related instruments, XAU and XAUT, ranked first and second in TradFi futures trading volume, respectively, and together accounted for nearly half of the total. XAU increased by 126% month-on-month and was the single largest instrument by trading volume during the month. Commodity trading volume increased by 59% month-on-month, with U.S. crude oil (USOIL) and Brent crude oil (UKOIL) increasing by 63% and 61%, respectively, ranking fifth and tenth for the month.
On the spot market, the number of tokenized U.S. stock instruments increased by 11% month-on-month. Tokenized U.S. stock trading volume accounted for 62% of total TradFi spot trading volume, making it the largest trading category on the spot market.
The top 10 instruments by spot trading volume reflected a multi-asset structure: tokenized U.S. stocks occupied four positions—SpaceX, Circle, Micron, and Tesla—while precious metals occupied three positions, foreign exchange occupied two, and commodities occupied one. Among them, the gold-related instrument XGZ increased by 112% month-on-month, representing the largest increase among the top 10 TradFi spot instruments.
4. Featured Campaigns Recorded More Than 100,000 Registrations, While TradFi Gala Drove Futures Trading Volume Above $3.5 Billion
Featured Campaigns
MEXC launched four featured campaigns in July, attracting more than 100,000 registrations in total. Among them, TradFi Gala responded to users’ growing demand for TradFi assets by offering a total prize pool of up to 1 million USDT. The campaign drove futures trading volume above 3.5 billion USDT, with the highest individual reward reaching 20,000 USDT.
The remaining campaigns focused on popular ecosystems and assets such as MOVE and TAO. Each campaign offered a prize pool of up to 200,000 USDT, with the highest individual reward reaching 1,000 USDT.
Airdrop+
MEXC held 12 Airdrop+ campaigns in July, offering a combined prize pool of more than 500,000 USDT and attracting nearly 50,000 users.
This month, Airdrop+ added airdrops for established trending tokens, bringing assets with existing trading depth, such as BONK, into the campaign pool. This expanded the program into a dual-track model covering both newly listed tokens and established trending tokens.
Spin & Win Campaign
MEXC’s themed Spin & Win campaign offered a total prize pool of 100,000 USDT. The highest individual reward was SPCXON worth 5,000 USDT. More than 20,000 users registered for the campaign, providing users with a low-barrier entry point to acquire popular assets.