MEXC Futures Business Grows Ultimately, Highlighting the Advantages of Liquidity and Fee Rate
- Written by Newsfile
Toronto, Ontario--(Newsfile Corp. - January 2, 2023) - In early December, the cryptocurrency exchange MEXC[1] announced that its futures business made a significant breakthrough in 2022, with an average daily trading volume growth of 1200%. This data can be verified from third-party public data.
MEXC
To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8840/149880_d8588db2c4a3ab28_001full.jpg[2]
On December 20, CoinMarketCap[3]'s data showed that among the main exchanges, the daily trading volume of MEXC's futures reached $2.4 billion, ranking fourth globally.
The main reason for the growth of MEXC futures business is that the exchange has reportedly continuously optimized the liquidity of the top 50 tokens by market cap since the beginning of this year. As a result, by the third quarter of this year, the liquidity of MEXC futures business had reached the leading level globally.
For futures traders, liquidity is the core indicator, which directly determines trading fees and experience. This is because the better the liquidity, the better the depth, the higher the turnover rate, the smaller the price difference, the lower the trading fees, and the faster the trading speed. At the same time, under extreme market conditions similar to March 12, 2020, futures products with high liquidity can avoid accidental "pin bar" patterns.
In addition to liquidity, the number of cryptocurrencies supported by the futures exchange and the trading fee rate are also comprehensive indicators considered by traders. One of the most important factors is the fee rate. The lower the fee rate, the lower the trading fee.
CoinGecko[4]'s data shows that in terms of the number of trading pairs, MEXC has listed the most cryptocurrencies for futures products, with more than 179.
The number of listed cryptocurrencies is more apparent. Because of the high frequency of project list, there will be a time difference between different exchanges. For some traders, the futures trade of minor market cap cryptocurrencies can better meet their needs. However, the frequency of project lists on the secondary market will gradually decrease, and the gap between the number of cryptocurrencies listed on each exchange will gradually decrease as well.
Contact:Company Name: MEXCName: Jenny SunEmail: media@mexc.com[5]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149880[6]
References
- ^ MEXC (www.newsfilecorp.com)
- ^ https://images.newsfilecorp.com/files/8840/149880_d8588db2c4a3ab28_001full.jpg (images.newsfilecorp.com)
- ^ CoinMarketCap (www.newsfilecorp.com)
- ^ CoinGecko (www.newsfilecorp.com)
- ^ media@mexc.com (www.newsfilecorp.com)
- ^ https://www.newsfilecorp.com/release/149880 (www.newsfilecorp.com)