MEXC Perpetual Futures Trading Volume Experienced a Substantial Rise in 2024

MEXC, a leading global cryptocurrency exchange, experienced a substantial rise in perpetual futures trading volume throughout 2024.

MEXC, a prominent cryptocurrency exchange, has experienced significant growth in perpetual futures trading volume throughout 2024, according to the latest annual report by CoinGecko.

According to CoinGecko’s latest annual report, MEXC achieved the highest market share in terms of perpetual trading and open interest (OI) volume among all centralized exchanges in 2024. The report, titled “Top 50 Exchanges in 2024: A Mid-Year Review,” highlights the rapid expansion of the cryptocurrency exchange industry, especially during a challenging market cycle.

Among the key takeaways from the report:

* Among the top 50 exchanges, seven exchanges saw their trading volume increase by more than 50% throughout the year.

* A new entrant, Bitrue, joined the top 50 exchanges by Q4, while Paybis and Advanced Cash retained their positions in the top 50 exchanges for fiat-to-crypto trading.

* In terms of perpetual trading volume and OI, the report highlights the dominance of MEXC in both categories.

According to CoinGecko’s data, MEXC’s share in perpetual trading volume reached 36.4% by Q4, significantly quadrupling from its initial 9.5% share in Q1. Similarly, in the open interest (OI) volume, MEXC’s share surged from 16.6% in Q1 to 33.4% by Q4, showcasing the exchange’s rapid expansion in the derivatives market.

The exchange’s focus on listing the most trending and in-demand tokens, combined with its competitive rates for both futures and spot trading, has made it a preferred choice for traders.

Further recognition for the exchange comes from institutional reports. TokenInsight, in its February 2024 report, recognized MEXC as having the largest market share among centralized exchanges, placing it among the top 5 exchanges in overall market share.

Also, according to CoinDesk's February 2024 report, MEXC achieved the largest market share among centralized exchanges and ranked within the global top five for total trading volume.

These achievements, supported by the platform’s broad token offerings and methodical approach to capturing market trends, position MEXC as a key player in the cryptocurrency derivatives market.