In a press release, the ramp said the trading pair brings MX, the native token of MEXC Global, and USDT, the world’s most liquid stablecoin. The trading pair will be bi-directional. Therefore, clients will be free to post positions in either direction depending on their technical or fundamental analysis’ prognosis.
Most importantly, the exchange divulged that they support up to 20X leverage on the pair. The ability for users to access high buying power in trading is beneficial. Crucially, it can be a morale boost for retail traders wishing to ride on volatility for their advantage, all while depositing low capital in their margin accounts. As a developing asset class, cryptocurrencies are highly volatile. This is a characteristic that aggressive traders can tap on to boost their profits, an allowance MEXC Global is presenting to its global traders through the MX Futures.
MEXC – MX/USDT
According to the liquid exchange, their decision to launch the MX/USDT perpetual, support bi-directional trading, and up to 20X buying power will significantly push MX Futures in the highly competitive crypto scene as they carve out valuable market share. At the same time, it will be massive in driving the MEXC ecosystem’s profile. Already, MEXC Global supports over 200 crypto perpetual trading pairs, including Bitcoin, Ethereum, Avalanche, and more.
The launch of the MX/USDT perpetual highlights the exchange’s aggressive plans of expanding and offering its global clientele various trading features and products. By listing MX and pairing it with USDT, the expected influx of capital will boost their native token’s liquidity, pushing it up the market cap ranking.
To spur demand and boost liquidity for MX, the exchange has released incentives to encourage HODLing. For example, holders will receive discounted fees, participate in MEXC Global’s launchpad and Kickstarter programs, and even attend M-day and other events where holders can interact and engage with the latest partner projects. Additionally, the MX token is used as a means of encouraging community participation. The exchange has stated that MX token holders can participate in communal governance activities like voting.
Trackers reveal that MX is gradually inching up the market cap ladder following the launch of the second version of the token in December 2021. The token’s impressive growth in liquidity and holding base reflects the determination of MEXC Global to offer superior products to its global base.