MEXC reports $641B in May trading volume, maintains overcollateralized reserves

Global cryptocurrency exchange MEXC announced in its monthly highlights report that its platform recorded $641 billion in trading volume for May. The exchange listed 110 new spot and futures cryptocurrencies during the month, which generated a cumulative trading volume of $1.18 billion. Additionally, MEXC began supporting trades for over 7,000 U.S. stocks and ranked first across all liquidity metrics for its Silver (XAG) futures product, according to TokenInsight. On the user support front, the platform handled 70,966 inquiries with an average response time of 61.29 seconds. A Proof of Reserves audit by Hacken confirmed that major assets were overcollateralized, with reserve ratios of 293% for BTC, 123% for ETH, 117% for USDT, and 120% for USDC. The exchange's Guardian Fund for user protection was also maintained at $101 million. MEXC stated it will continue to publish its reserve data and operational status on a monthly basis.