MEXC’s Zero-Fee Gambit: Liquidity Surge and Market Share Gains

MEXC Global, a prominent player in the cryptocurrency exchange landscape, launched a high-profile $1 million campaign in collaboration with Story Network (IP) in August 2025, which generated significant trading activity and user engagement. The campaign, which offered zero trading fees on IP-related pairs and staking rewards with up to 400% annual percentage rate (APR), recorded a total trading volume of 1.59 billion USDT. This performance highlights MEXC's ongoing strategy to attract liquidity and user participation through competitive incentives and strategic partnerships with high-potential blockchain projects.

The campaign was part of a broader trend of promotional initiatives by MEXC to boost user engagement and volume. Earlier in the year, the TON Triumph campaign with The Open Network (TON) achieved record results, generating $6.6 billion in combined trading volume and attracting over 110,000 participants. These campaigns not only serve to drive short-term volume but also reinforce MEXC’s position as a platform for early-stage tokens and emerging narratives, particularly in the DeFi and stablecoin sectors. The success of these initiatives aligns with MEXC’s focus on rapid listing cycles and zero-fee promotions, which have contributed to the exchange’s 13.06% global market share in the first quarter of 2025.

MEXC’s aggressive listing strategy has been a key factor in its ability to maintain liquidity and attract traders. In the first half of 2025, the exchange added more than 200 new spot tokens and continued its bi-weekly listing schedule, covering a broad range of asset categories, including memecoins, DeFi tokens, and layer-1 protocols. This approach has allowed MEXC to capture trends in real time and respond to shifting market interests, particularly with high-growth tokens such as SUI and TON, which saw substantial volume increases during the second quarter. The flexibility in listing strategy has also enabled MEXC to maintain strong liquidity depth across its most popular trading pairs, with less than 0.01% slippage on the top 50 pairs.

The exchange’s commitment to transparency and financial stability is reflected in its Proof of Reserves and insurance fund mechanisms. As of August 2025, MEXC’s Bitcoin reserve ratio reached 129.85%, indicating that the platform held more than the required amount of BTC relative to user balances. This over-collateralization extends across major assets, including USDT, USDC, and ETH, and is supported by publicly viewable wallet addresses for partial verification. Additionally, MEXC’s insurance fund, which provides a buffer against extreme market volatility, reached $559 million in 2025, a record high that further enhances user confidence and trust in the platform’s risk management practices.

MEXC’s ecosystem development efforts also played a role in supporting the success of its promotional campaigns. The platform announced a $300 million Ecosystem Fund and a $30 million IgniteX Corporate Social Responsibility (CSR) initiative in 2025, both aimed at fostering innovation and supporting early-stage projects in the Web3 space. These initiatives not only contribute to the broader crypto ecosystem but also provide MEXC with a strategic advantage in identifying and listing promising projects at an early stage. The alignment of promotional activities with ecosystem development underscores MEXC’s evolution from a pure trading platform into a comprehensive crypto infrastructure provider.