NEW YORK, Feb. 24, 2021 /PRNewswire/ — Recently, MXC Exchange and Huobi ECO Chain (Heco) reached in-depth cooperation to expand the application scenarios of its exchange token MX.
The scope of cooperation includes:
1. MX will be connected to Heco as a cross-chain asset and will open up scenarios such as loaning, liquidity mining and DEX trading.
2. Huobi Global and MXC Exchange will add MX and Heco deposit and withdrawal entrances to optimize the user experience.
3. MXC Exchange will launch a Heco Asset Zone specifically to jointly create diversified ecological application scenarios.
Cooperation with Binance Smart Chain (BSC) includes: The MXC platform token MX will be connected to BSC as a cross-chain asset to expand BSC chain lending, liquidity mining, DEX trading and other scenarios. At the same time, MXC will also launch the BSC asset zone, and more BSC on-chain assets will be listed. In the future, the two parties will also expand more cooperation possibilities and scenarios around BSC and MX.
At the same time, the tokens top exchange had a second pump. According to the data of CoinMarketCap on May 20, the highest price of BNB was $339.49, HT reached $26.73, and MX hit $1.12, among which the historical gain of MX reached 1017.18%.
It is worth noting that the exchange token has always been positioned as a utility token rather than a security asset. Their market valuation is not high. Especially MX, whose current market value is only $120 million. Compared with BNB with a market value of $45.266 billion and HT with a market value of $4.383 billion, it still has a long way to go.
According to the MXC Exchange, a total of about 7,189,900 MX was burnt in 2020. Estimated based on the median monthly MX price, the trading fee earned by the platform is about 9,423,400 US dollars.
The current market value of MX is only 12 times the PE level, and if calculated according to the annual average price of MX in 2020, the PE level is much lower than this estimated value, because the price increase of MX has reached 858.33% since the beginning of 2021.
Therefore, the market value of the MX is far underestimated. Compared with the exchange token of other mainstream trading platforms, it is still on the eve of the return of value. Why is that?
First of all, MX has deflation scenarios in the platform including spot, contract, ETF, leverage and buyback and burn. It has practical application scenarios in DeFi mining, SpaceM, M-Day, and vote to list.
Throughout 2020, MXC Exchange had the earliest layout in DeFi, Polkadot, NFTs, Layer2, etc. There were nearly 100 tokens and coins listed on MXC Exchange, and the high gains had attracted huge user traffic, the trading fees earned from this traffic has accelerated the process to burn MX.
Recently, the application scenarios of MX have begun to expand from within the platform to outside the platform. The number of transactions on the Heco reached 42.036 million, and the number of funds on the chain reached $2.819 billion. By cooperating with the Heco, MX can be used as a cross-chain asset to connect to the Heco, which will open up scenarios such as loaning, liquidity mining and DEX trading. At the same time, the Heco projects being listed on MXC Exchange will also bring value to MX.
The cooperation with BSC will further open up the entire network application scenarios of MX. The exchange token MX will be connected to BSC as a cross-chain asset to expand BSC chain lending, liquidity mining, DEX trading and other scenarios. At the same time, MXC will also launch a BSC asset zone, and more BSC on-chain assets will be listed. In the future, the two parties will also expand more cooperation possibilities and scenarios around BSC and MX.
On February 11, MXC launched the “MOASIS” program for MX developers and established a 5 million USDT fund to open up the usage of MX on various public chains and applications. All asset developers who wish to expand the MX scene can sign up for it.
SOURCE MXC GLOBAL LTD