Why MXC Exchange May Become The Next Binance

Published February 2, 2021 | Updated February 2, 2021

Crypto Market

Why MXC Exchange May Become The Next Binance

Cryptocurrency exchanges are always competing against industry incumbents. Gaining a competitive edge can be a lot more complicated than some anticipate. MXC Exchange has based on recent growth, enough potential to become the next Binance. 

Beating Binance In DeFi Listings

One of the main aspects that sets MXC Exchange apart from Binance is how quickly they can access new DeFi tokens. As the decentralized finance industry keeps attracting billions of dollars, finding the next unicorn asset is crucial. Having access to new assets shortly after they launch makes a considerable difference where profit potential is concerned. 

To be more specific, the assets below were all listed on MXC Exchange before Binance paid attention to them. That list includes significant DeFi assets, such as COMP, JST, SXP, YFII, 1INCH, and so forth. In some cases, it took Binance an extra month – or more – to list these tokens. Speculators can access them on MXC Exchange well in advance, increasing the profit potential.

One also has to keep in mind the assets listed first on MXC Exchange have all seen tremendous growth. Even the “lowest growth rate” equals a 1,330% increase in value from when it was first listed on MXC Exchange. In the case of COMP, that rate of growth equals 16,670%. Astonishing values that would not be possible were it not for the proactive approach by MXC Exchange.

MX Token Offers More Benefits Than BNB

MXC Exchange’s MX Token acts differently from Binance Coin. It offers both active and passive benefits that do not require users to spend their tokens per se. It appears this method attracts a lot of attention, which also explains why the price has risen strongly. Current benefits provided to MX Token holders include:

  • Token buyback by MXC Exchange (100% of profits from spot and ETF trading are used for this purpose every month).
  • A 20% trading fee discount on spot trading.
  • MX Token Holders can vote on listing coins currently in the assessment zone.
  • Access to SpaceX and the associated token lotteries.
  • Automatically earn more tokens for the SpaceX MX token round issuances.
  • Participation in MX DeFi yield farming.

As can be seen from the list, there is no requirement for users to sell MX Token at any point. Instead, they will automatically unlock these benefits, yet holding more tokens will increase the chances of winning lotteries or earning more from MX DeFi. For users who prefer passive bonuses, MX Token is superior to Binance Coin in every single way.

Stronger Yearly Price Performance

In the past year, the value of MX Token increased by 282.3%, bringing its value to $0.257 at a $35.358 million market cap. Binance Coin, on the other hand, notes a yearly gain of $138.8%, bringing its value to $44.35 at a $6.559 billion market cap. 

MX Token still has a lot to catch up on in this regard, but there is no reason to think that is impossible.

Conclusion

When dealing with financial markets, it is often advisable to diversify a portfolio. That concept applies to exchange tokens too. A few years ago, hardly anyone gave BNB a second glance. Today, it is a top 15 cryptocurrency by market cap. While MX Token is ranked much lower, it has all of the potential to enter the top 100 before 2021 comes to a close. Reaching that level requires its market cap to grow eight-fold, which is more than plausible under the current market conditions.

By holding exchange tokens of many different platforms, users will tap into a growing collection of rewards.


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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.
Achal Arya 430 Articles
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.
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