MX

Today's state: MX is trading at $1.66 with a $0.2 billion market capitalization (rank #202). The price moved +0.52% over the past 24 hours and is -1.64% over 7 days; the 30-day move stands at -4.86% and the 90-day at +0.00%.

Position vs cycle: Sitting more than 70% under its prior cycle high, the asset is deep in post-peak drawdown territory — a zone associated with late-stage bear phases or a permanent downward re-rating.

Volatility and structure: 30-day realized volatility of 20.1% annualized is low for an asset this size. Our composite multi-horizon Price Strength reads Neutral (50/100), with the timeframes pulling in different directions and no clean directional read.

Looking past Bitcoin alone, how closely MX tracks the next two biggest layer-1s over 90 days indicates whether it is mostly market beta or something more independent. The daily-log-return correlations:

• Bitcoin reference: +0.27 — a weak positive relationship.
• Ethereum reference: +0.25 — a weak positive relationship.
• Solana reference: +0.35 — a weak positive relationship.

When an asset correlates strongly with multiple majors, it is trading largely as market beta — the big caps set the direction and standalone outperformance is elusive. Weak or negative correlations instead signal idiosyncratic forces (its own news, sector rotation, narrative changes) capable of producing returns the broader market does not share.

MX (MX) is a cryptocurrency, traded on global digital-asset markets. It trades at $1.66 as of the latest update, with a 24-hour move up 0.52%, placing it at rank #200 by market capitalisation among all listed digital assets. MX's current market cap stands at $152.83M, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking MX across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

MX's value is structurally tied to the exchange that issued it. Holders effectively own a claim on a stream of fee revenue or fee discounts, and the token's adoption is bounded by the exchange's market share. This makes the asset closer to equity in the exchange than to a true network asset.

By market value, MX sits at rank #202 — a mid-cap asset in the broad top 250. Only about 9% of the eventual MX supply is circulating so far (91.84M of 1.00B), so future unlocks remain a meaningful dilution variable. It currently trades about 100% below its all-time high of $618.21 set in January 2021, while sitting roughly 39.4× above its record low.

MX is an exchange token: issued by a centralized cryptocurrency exchange, with utility tied directly to that exchange (typically fee discounts on trading, access to launchpad sales, voting on listings, or reduced borrow rates on margin and futures). Some exchange tokens also function as the native gas asset for a chain operated by the exchange.

By market value, MX sits at rank #202 — a mid-cap asset in the broad top 250. Only about 9% of the eventual MX supply is circulating so far (91.84M of 1.00B), so future unlocks remain a meaningful dilution variable. It currently trades about 100% below its all-time high of $618.21 set in January 2021, while sitting roughly 39.4× above its record low. Its fully-diluted valuation of $680.66M is about 4.5× the circulating market cap of $152.83M, a gap that signals issuance overhang to factor into any longer-term thesis.

MX is used for: paying trading fees at a discount, participating in token launches via the exchange's launchpad, voting on listings, accessing premium products, and (where the exchange runs a chain) paying gas for chain transactions.

Daily volume runs at about 3.0% of market capitalisation ($4.58M in the last 24 hours), in the normal band for a coin of this size and supportive of orderly entries and exits.

To read MX's tokenomics, look at the issuance schedule, the share of supply already in circulation, and the gap between market cap and fully-diluted valuation. Only 9.2% of maximum supply is currently circulating, meaning future emissions remain a meaningful source of structural sell pressure. Issuance velocity and unlock schedules become important variables in any longer-term thesis. The fully diluted valuation (FDV) of $0.7 billion stands at 4.5× the current circulating market cap of $0.2 billion. The wider this ratio, the more issuance overhang the asset faces — a structural headwind on valuation that mature assets like Bitcoin do not face but that early-cycle assets typically do.

For thesis-building, the relevant question is whether the structural value-accrual mechanism (fee burns, staking-yield reinvestment, deflationary supply mechanics, ecosystem TVL growth) outpaces the structural emission pressure. When it does, the price tends to grind higher over multi-quarter windows even without speculative momentum; when it does not, the asset typically requires consistent narrative-driven demand to absorb the issuance.

At the top of the macro stack sit interest rates, dollar liquidity and risk appetite, and crypto has tended to amplify all three. Easing financial conditions and a weaker dollar have historically pulled the sector up; tightening liquidity and a firmer dollar have reliably pulled it back down.

Several traditional markets serve as useful cross-checks: a strong dollar (DXY) has tended to weigh on crypto; rising 10-year Treasury yields raise the cost of holding risk; gold occasionally trades as a parallel hard-money hedge; and US equities frequently move in sympathy with crypto when the driver is liquidity rather than fundamentals.

For MX specifically, the macro variable that has empirically led price most often is global crypto-market liquidity — proxied by stablecoin total supply, futures open interest, and exchange volumes. When these expand, MX tends to follow; when they contract, the relationship typically reverses. With a comparatively loose 90-day BTC correlation of +0.27, MX has shown more idiosyncratic price behaviour than the average large-cap — its own catalysts can matter as much as the broad liquidity tide.

Specific risks: regulatory risk (the exchange itself may face enforcement, which damages the token), centralization risk (a single entity controls supply emissions and burn schedules), custody risk if held on the issuing exchange (counterparty exposure to the exchange's solvency), and revenue concentration risk (value tracks the exchange's market share, not broad crypto adoption).