MX Token (MX) is the lifeblood of the MEXC Global ecosystem

MEXC, with its MX token, was one of the pioneers of this trend, but even today, the MX Token remains relevant and in demand due to the constant expansion of its functionality.

What is an MX Token?

MX is a utility token of the MEXC exchange issued on the Ethereum blockchain. Of course, the relevance of an "exchange" token depends entirely on how large and successful the exchange that was issued is, and here, MX's position looks pretty good. MEXC is one of the largest cryptocurrency exchanges today. In the ranking of CoinMarketCap, it occupies the eighth line, and the daily trading volume exceeds 3.5 billion dollars.

Providing various benefits to holders of "exchange" tokens is standard practice on the market, but MX provides its holders with a much broader list of privileges than most competitors.

MX Token holders receive:

• The ability to participate in the management of the MEXC Global platform. Admittedly, the list of issues to be voted on is limited, but the influence of users on the direction of MEXC is significant.
• Discounts on commission fees. Withholding 500 MX entitles you to a 50% discount on taker commissions on spot and futures trading platforms. The discount is "turned on" 24 hours after the start of the coin hold. Paying MX commissions gives an additional 20% discount.
• Access to Airdrop tokens hosted on MEXC. The standard for airdrop admission is to hold 25 MX — from this amount, the user gains access to all airdrops on the platform. However, during some releases, even holders of 1 MX can participate in airdrops. In addition, in some cases, holders of large amounts of MX receive exclusive conditions for access to tokens during the pre-release phase.
• Entitlement to a portion of the platform's revenue. At 1,000 MX, token holders are entitled to a portion of MX's fees. The funds are distributed proportionately to the number of tokens in the users' balance. MEXC allocates 70% of the commissions to pay MX Token holders.

As it is easy to see, all MX applications are aimed at stimulating demand for the token and are designed to make users keep as many tokens in their wallets as possible for as long as possible. In this way, the MEXC team ensures a stable demand and a constant shortage of tokens on the market, contributing to its price growth. In addition, the exchange burns some of the tokens collected as commissions, further stimulating the scarcity.

MX Token market history

MX Token hit the markets in late September 2019. The price at the time of listing was $0.1326. During the first year and a half of the asset's existence, its price fluctuated between $0.1 and $0.18. However, in February 2021, rapid growth began, coinciding with the growing popularity of the MEXC trading platform. By mid-May, the token's value had already reached $2, and by the end of the year, it had reached $3.3.

The negative dynamics of the crypto market in 2022 affected MX Token, but its price did not fall below $0.8, and in early 2023, growth resumed. On April 12, 2024, MX Token reached its all-time high of $5.7014, followed by a correction.

As of February 15, 2025, MX Token is trading at $3.48. Notably, the asset's price has been around $3.5 for more than half a year — a relatively rare phenomenon for cryptocurrency assets that are not among the leaders in capitalization.

MX Token's market capitalization as of mid-February 2025 is $330 million. According to this indicator, the asset is ranked 156th in the CoinMarketCap ranking.

MX Token prospects

MX Token is a niche asset — its capitalization is relatively modest, and daily trading volumes are high. However, the potential for its practical application and the possibility of generating additional income with its help ensure stable demand and price stability. At least as long as MEXC remains a popular and active trading platform.

Currently, MEXC's prospects look good — the platform is constantly growing in terms of the number of users and trading volumes. However, the risk of a platform hack or any related scandal cannot be ruled out, which could lead to a sharp drop in the MX rate.