MEXC has released its September trading data, reporting that new-token and TradFi spot trading volumes rose 77% and 78% month over month, respectively. Tokenized U.S. stock trading volume increased 81% during the same period. Stock Meme projects also took the top two spots by new-token spot trading volume, as stock-related trading expanded into on-chain new-token markets.
New-Token Market Activity
In September, the number of newly listed tokens on MEXC increased 15% month over month, while the number of users trading new tokens grew 27%. Seven of the top 10 new tokens by spot trading volume made their exchange debut on MEXC. Stock Meme projects 4STOCK and MEMEROBINHOOD together accounted for approximately 38% of the top 10’s combined trading volume.
Beyond stock-themed meme tokens, tokenized stocks are also being used as quote assets for on-chain new token trading pairs. Four Stock Meme projects, including MEMEROBINHOOD, SI, MOO, and 4STOCK, ranked among the top 10 gainers. Together, they accounted for approximately 67% of the ranking’s total trading volume. EMBER and BREW, two tokens associated with token launch platforms, also ranked among the top 10 new tokens by spot trading volume. Both platforms support trading pairs between new tokens and stock-related assets. Of the five distinct Stock Meme projects that appeared across the two rankings this month, three run on Robinhood Chain, an emerging public blockchain.
Tokenized U.S. Stock Trading
MEXC’s tokenized U.S. stock trading volume rose 81% month over month in September, accounting for approximately 66% of the increase in TradFi spot trading volume. More than half of the tokenized U.S. stocks saw their trading volumes at least double. The number of tokenized U.S. stocks in the top 10 by TradFi spot trading volume rose from three in August to five in September. MRVL and META entered the ranking, with trading volumes up 212% and 152%, respectively.
Circle-related trading activity also appeared across both MEXC’s tokenized U.S. stock and new-token markets. On September 16, Circle launched the mainnet of its own blockchain, Arc. ARGUS, the token of a launch platform on Arc, was listed on MEXC the same day and ranked among the month’s top 10 new tokens by spot trading volume. During the same month, trading volume for tokenized U.S. stock CRCL rose 103% month over month, placing it fourth by TradFi spot trading volume.
Campaign and Executive Comment
To drive user participation, MEXC held xStocks Gala, a tokenized U.S. stock trading campaign, in September. The campaign attracted nearly 100,000 registrations, with average daily trading volume exceeding $3.4 billion during the event.
MEXC CEO Vugar Usi said, “The convergence of stocks and crypto assets is changing how users participate in markets. A single market theme can drive trading activity in both tokenized U.S. stocks and on-chain new tokens. Through 0-fee trading and broader asset coverage, MEXC aims to help users capture cross-market trading opportunities on one platform.”
