The collapse of the world’s second largest cryptocurrency exchange after the liquidity crisis and filing for bankruptcy protection has had a major impact on the cryptocurrency market. The impact of the crisis has seen losses in the crypto market since the beginning of the year estimated at around $2 trillion, lowering investor sentiment to levels of “extreme fear”. On the other hand, the balance is changing in the competition between virtual currency exchanges. MEXC, a user-friendly digital asset trading platform, ranked him #1 in derivatives trading for three consecutive days, according to data from Coinmarketcap. The exchange also hit $160 billion in daily trading volume.
MEXC Finance Manager Kevin Yang shared his assessment of the matter, stating: At this point, investors should look to exchanges that are transparent and strong in terms of liquidity in order to be able to trade safely. “The liquidity of MEXC’s top 50 cryptocurrencies by market capitalization ranks #1 globally for its three core products, spot, leveraged ETFs and futures.”
“The crisis had a domino effect.”
Kevin Yang recalled that 130 stock exchange subsidiaries were included in the bankruptcy filing, noting that “during this process, other exchanges that do not have a solid foundation and are tied to local cryptocurrencies. Stock exchanges have also shut down, and we have seen bailed-out companies file for bankruptcy protection in the past few months. As MEXC in second place in the list of Best Cryptocurrency Derivatives Exchanges by Coinmarketcap data, it continues to maintain its top 3 position with over $2,3 trillion in open positions.For four years, MEXC has been the world has served over 170 million users in 10 countries and regions in 2020. As one of the world’s leading cryptocurrency trading platforms, we offer many investment products such as spots, ETFs, futures and NFT indices. This allows us to appeal to a more active investor base.”
“High trading volume means high liquidity.”
MEXC Finance Manager Kevin Yang concluded the assessment with the following statement, emphasizing that it offers approximately 5 million liquidity within 100 basis points of the median price. last period. High trading volume means high liquidity. On some exchanges, the amount of liquidity he has is 30 million, but on the majority he is less than 10 million. MEXC Global has won the award for Best Cryptocurrency Exchange in Asia in October 2021. With an uninterrupted trading experience and a global support team with 7/24 access, MEXC offers users the assurance of having their questions answered in her 30 seconds. Always offering competitive commissions compared to its competitors, MEXC stands out in Turkey with advantages such as free market maker commissions on all spot trading pairs and community-oriented campaigns. MEXC Turkey brings the credibility and power of MEXC to the Turkish crypto ecosystem globally. ”