MEXC ranks 2nd in Q3 crypto perp volume, says user asset safeguards strengthened

Crypto exchange MEXC ranked second among all exchanges in third-quarter perpetual futures trading volume with a 17.43% market share, according to a TokenInsight report. The report showed MEXC ranked fourth in total third-quarter trading volume at $1.069 trillion, with an 8.91% market share. Its market share increase from the previous quarter was 0.38 percentage points, the third largest among major exchanges. By product, MEXC ranked second in trading volume for perpetual futures tied to gold, silver, Brent crude, copper and platinum. In stock perpetual futures, Nvidia (NVDA) ranked second by trading volume. MEXC said it is also strengthening user asset protection as trading in volatile traditional assets increases. Meanwhile, an October Proof of Reserves report released by MEXC with blockchain security auditor Hacken showed major cryptocurrencies remained overcollateralized. Reserve ratios stood at 294% for BTC, 122% for USDT and 111% for ETH, all above user deposited assets. Its Guardian Fund for user protection currently holds 100 million USDT and more than 2,000 BTC.