Monthly Archives: December 2022

MEXC Futures Soars 1200%: 4th Highest Trading Volume Globally

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• In early December, the cryptocurrency exchange MEXC announced that its futures business made a significant breakthrough in 2022, with an average daily trading volume growth of 1200%.
• The main reason for the growth of MEXC futures business is that the exchange has reportedly continuously optimized the liquidity of the top 50 tokens by market cap since the beginning of this year.
• On December 20, CoinMarketCap’s data showed that among the main exchanges, the daily trading volume of MEXC’s futures reached $2.4 billion, ranking fourth globally.

In early December, the cryptocurrency exchange MEXC revealed that its futures business has experienced tremendous growth since the start of the year. The data, which can be verified from third-party public sources, showed that the average daily trading volume of MEXC’s futures has increased by a staggering 1200%. On December 20, CoinMarketCap’s data revealed that among the main exchanges, the daily trading volume of MEXC’s futures has reached $2.4 billion, ranking fourth globally.

The impressive growth of MEXC’s futures business can be attributed to the exchange’s reported continuous optimization of the liquidity of the top 50 tokens by market capitalization since the start of the year. The optimization has allowed MEXC to offer a wide selection of tokens to its clients, which in turn has led to an increase in trading volumes.

MEXC has also been able to attract traders by offering competitive fee rates. As of December, MEXC’s fee rate for futures trading is 0.03%, compared to the industry average of 0.075%. This means that traders on MEXC pay less than half of the industry average in fees.

In addition to its attractive fee rate, MEXC has also implemented other features to make trading easier. For example, MEXC has implemented a margin system that allows traders to open positions with just a fraction of the capital needed to open a full position. This allows traders to make bigger trades than they would otherwise be able to, increasing the potential for profits.

MEXC’s impressive growth in its futures business is a testament to its commitment to providing traders with an unparalleled trading experience. The exchange has succeeded in creating an environment that is both secure and user-friendly, making it an attractive option for traders. MEXC’s competitive fee rates and wide selection of tokens have made it a top choice for traders looking to make the most of their investments.

Bitcoin Stuck in Tight Range: Breakout Needed to Determine Mid-Term Path

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• Bitcoin’s price has been confined to a very tight price range between the 50-day moving average and the ascending trendline.
• The rally from mid-November has been halted at the $18K resistance level, which aligns with Bitcoin’s prior major pivot.
• A break out of this price range could be necessary to determine the mid-term path of Bitcoin’s price.

The Bitcoin price has been in a tight range in recent weeks, with the 50-day moving average and the ascending trendline both serving as key levels of support and resistance. This range has been in place for some time now, and it has proven itself to be a significant level for traders and investors to pay attention to.

The recovery from the mid-November crash towards $15K has been halted at the $18K resistance level, which is also the level of Bitcoin’s prior major pivot. This is an important level to watch out for, as a break out of this range could be necessary to determine the mid-term path of Bitcoin’s price.

Technical analysis suggests that there are signs of a possible bullish trend, with Bitcoin’s price bouncing off of the 50-day moving average in recent days. This could be a sign that the bulls are getting ready to take over, although the overall market sentiment remains uncertain.

Meanwhile, the Relative Strength Index (RSI) has dropped below 50, which could be a sign that the bears are beginning to take control. This could be a sign that Bitcoin’s price could be heading lower in the near-term.

Overall, it appears that Bitcoin’s price is stuck in a tight range for now, and a break out of this range could be necessary to determine the mid-term direction of the cryptocurrency’s price. Until then, traders and investors should remain cautious and watch the price action closely.