MX Token (MX) Exchange

About MX Token

MX is the native utility token of MEXC, a centralized cryptocurrency exchange founded in 2018. Launched as an ERC-20 token on Ethereum, MX powers the MEXC ecosystem through trading fee discounts, access to Kickstarter and Launchpad token sales, Launchpool staking events, voting rights on project listings and business decisions, and airdrop eligibility for new token distributions. The MX Token 2.0 framework, launched in 2025, restructured the token's economics around a deflationary model in which 40% of MEXC's quarterly profits are committed to buying back and burning MX. MEXC reported that its Q2 2025 burn destroyed 2,398,000 MX, and cumulative burns have cut the effective supply from the original 1 billion MX to roughly 410 million.

MX tokenomics

MX uses a quarterly buyback-and-burn model funded by exchange profits, which links MEXC's trading revenue to deflationary pressure on MX supply.
Original supply — 1,000,000,000 MX (1 billion)
Current supply — roughly 410 million MX after cumulative burns, according to CoinGecko and MEXC
Circulating supply — approximately 91.8 million MX as of November 2026, according to CoinGecko
Burn model — 40% of MEXC's quarterly profits are used to buy back MX on the open market and burn it; MEXC reported a burn of 2,398,000 MX for Q2 2025
Token utility — trading fee discounts, access to Kickstarter and Launchpad token sales, Launchpool staking rewards, governance voting on project listings, and airdrop eligibility
Market data — market capitalization of about $146 million and a price of about $1.59 as of November 2026, according to CoinGecko

What determines MX's value

MX's value is driven by MEXC's exchange performance (trading volume, fee revenue, user growth) and the quarterly burn mechanism that converts 40% of profits into buybacks. Higher trading volume produces more quarterly profit, which funds larger burns and reduces supply faster. With about 91.8 million MX in circulation against a supply of roughly 410 million, a large share of tokens sits outside circulation, so the circulating float is small relative to total supply.

Buybacks provide regular demand, but burns alone have not been enough to lift the price: CoinGecko listed MX at about $1.59 in November 2026. MEXC's competitive position matters, since exchange tokens such as BNB, OKB, BGB, and KCS target similar utility, and MX's trajectory depends on MEXC maintaining or growing its market share. Exchange tokens also carry the credit and regulatory risk of the exchange that issues them.