TORONTO, Ontario–(Newsfile Corp. – January 2, 2023)–In early December, cryptocurrency exchange MEXC announced a major breakthrough for its futures business in 2022, with a 1,200% increase in average daily trading volume. This data can be verified from third-party public data.
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On December 20, CoinMarketCap data showed that among major exchanges, the daily trading volume of MEXC futures reached 2.4 billion US dollars, ranking fourth in the world.
The main reason for the growth of MEXC’s futures business is that the exchange has reportedly been optimizing the liquidity of the top 50 tokens by market capitalization since the beginning of this year. Therefore, as of the third quarter of this year, the liquidity of MEXC’s futures business has reached the world’s leading level.
For futures traders, liquidity is the core indicator, which directly determines transaction costs 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 transaction fee, and the faster the transaction speed. At the same time, under extreme market conditions like March 12, 2020, futures products with high liquidity can avoid unexpected “pin bar” patterns.
In addition to liquidity, the number of cryptocurrencies supported by futures exchanges and transaction fee rates are also comprehensive indicators considered by traders. One of the most important factors is the rate. The lower the rate, the lower the transaction fees.
According to data from CoinGecko, in terms of the number of trading pairs, MEXC has listed the most futures product cryptocurrencies, more than 179.
The number of listed cryptocurrencies is even more pronounced. Due to the high frequency of item listings, there will be time differences between different exchanges. For some traders, futures trading on small-cap cryptocurrencies better suits their needs. However, the frequency of listing projects in the secondary market will gradually decrease, and the gap in the number of currencies listed on each exchange will gradually narrow.
Company name: MEXC
Name: Sun Zhenni
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