What is the MX token and Is the MX token a good investment?
What is the MX token?
MX TOKEN or MX is the MEXC platform's native decentralized digital asset built on the Ethereum blockchain. MEXC, founded in April 2018, is a global leader in crypto asset trading, offering spot, ETF, leverage, and contract trading. It currently serves over 10 million users. The core members of the team all have deep financial and technological backgrounds and share the same goal of optimizing users' trading experiences with the professionalism and security of financial products.
Key Characteristics of MX
MEXC Global employs a high-performance trading engine developed by banking industry experts that is capable of completing 1.4 million transactions per second, resulting in unprecedented efficiency and performance. Among the key features are:
Stability and safety. The multi-tier, multi-cluster system architecture promotes stability.
Excellent performance. The technology used in trade matching engines can handle up to 1.4 million units per second.
Liquidity is high. 7+ million traders, along with MEXC GLOBAL partners, contribute to the platform's liquidity and abundance of resources.
Support for multiple cryptocurrencies. MEXC has listed over 1,400 trading pairs and cryptocurrencies, including BTC, ETH, DOT, ATOM, XRP, SHIB, GLMR, FIL, AR, AAVE, SOL, CRV, and others, covering crypto assets from Layer 0 to Layer 1.
Is MX token a good investment?
To know whether the MX token is a good investment, you’ll need to know the applications, tokenomics, and MX price performance.
What are the Applications of MX Token
MX is the MEXC Exchange's official token. Profits from spot trading and ETFs on MEXC will be burned entirely through MX. MX's primary applications include:
Expenses for trading and transactions
Voting participation is listed in the project.
MEXC users and traders can benefit from airdrop bonuses.
MX has useful applications, such as a 20% transaction fee reduction on the trading platform MEXC.com. For bonuses, MX has also launched the "Everything Growth Plan," which aims to improve the MX token economy and expand MX usage scenarios by providing additional utilities such as on-chain lending, liquidity mining, and DEX trading.
MX Tokenomics
450 million MX tokens were committed to the MEXC team as part of the initial token design, but were locked and never distributed to the team. The following table summarizes the MX reserve distribution:
The MEXC Foundation has a reserve of 100,000,000 MX Tokens.
MEXC Labs has issued 150,000,000 MX Tokens.
MEXC Strategic Alliance: 100,000,000 MX Token
100,000,000 MX Tokens are being burned immediately.
MEXC will continue the MX Token "Buy-Back & Burn" program in the interest of the MX community. MEXC Exchange commits 40% of MEXC platform profit to quarterly buyback and burns MX Token from the market, with the goal of keeping the circulating supply of MX Token at 100 million.
What is MX Crypto Price Performance?
As of the time of writing, the current live price of MX Token is $ 1.29 per (MX/USD). The highest price of MX is $ 3.70 and the past 24-hour trading volume is $ 2.19M. So the current price seems to be cheap.
How to buy MX Token?
As the platform token of MEXC Exchange, MX has been listed on many famous crypto exchanges including Bybit, Huobi, MEXC, and ZT.
Follow these steps to purchase MX Token (MX) on MEXC:
Log in to your MEXC account and then select [Trade]. Select [Spot].
To see the available trading pairs, type "MX" into the search bar. As an example, consider the MX/USDT pair.
Scroll all the way down to the [Spot] box. Enter the amount of MX you wish to purchase. You can place a Limit order, a Market order, or a Stop-limit order. Consider the Market order. To confirm your order, click [Buy MX]. The purchased MX will be stored in your Spot Wallet.
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