Milestone $400 Million Trading Volume Achieved On MXC Exchange Leveraged ETF Following Crypto Breakout
Interest has returned to the crypto market in a major way. Over the last several weeks, Bitcoin has broken all kinds of records in terms of total market cap, hash rate, the number new of wallets, and much more. Altcoins have also surged as a result of the sudden spark of momentum in crypto.
This momentum has also begun to blossom and break records elsewhere in the crypto market as well. Data shows that the daily trading volume of the MXC Exchange leveraged ETF has exceeded over $400 million this week, shattering the previous record high. Here’s why this milestone is so notable and what this could mean for the future of crypto markets.
Crypto Market Explodes With Renewed Interest, Investors Scramble To Profit
Cryptocurrencies are the best performing asset in 2020, during a year when money is being devalued by ongoing stimulus efforts, and the economy is on thin ice. Bitcoin and its closest altcoins have all beaten out stocks, bonds, and even gold.
The market is also now made up of different participants, including institutions and hedge funds for the first time. These high class, high wealth traders seek sophisticated platforms and crypto trading products.
This could be a large factor in why MXC Exchange’s leveraged ETF has set a new world record for daily trading volume recently. While retail traders dominated spot exchanges during the last bull run, new crypto products such as the MXC Exchange leveraged ETF allow for even greater financial opportunity, drawing an onslaught of new traders to the platform recently.
Why The MXC Global Leveraged ETF Soared To New Records
During the recent crypto market breakout, XLM3L, surged 123%, while prices of XRP3L, KSM3L, BCH3L, DASH3L and ETC3L exploded by 67.5%, 65.31%, 58.47%, 57.77% and 48.84% respectively – all within a single day. Investors and traders flocked to the platform to try to chase whatever remaining gains they could.
The perpetual leveraged trading product anchoring spot exchange pricing was especially attractive to investors and traders during the crypto market breakout, prompting them to chase the growing trend and seek substantial gains.
The MXC leverage ETF uses rebalancing risk control and automatic compound interest without margin or liquidations rules to maximize the return and safety of positions. MXC Exchange has recently optimized the trading depth and overall experience of the leveraged ETF, which is available for in the ETF Zone on the MXC Exchange website.
Alex Zha, Director of Global Operations at MXC exchange explained that “at MXC Exchange, we always listen to what our users want. During periods of volatility like this one, more people are eager to increase their exposure to specific cryptocurrency assets. Leveraged ETFs provide them with that option, and we have the largest collection of tradeable vehicles on the market today.”
“Our goal is to keep lowering the barriers to entering the crypto world. Through these ETFs, users can expose themselves to cryptocurrencies without having to worry about owning the underlying asset,” Zha added.
With a new record set, the only way to go from here is up – both in terms of crypto prices and in terms of trading volumes at MXC Exchange and the leveraged ETF.
To learn more, visit the MXC Global website.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Bitcoinist, @Khareem Sudlow