MEXC Zero-Fee Strategy Saved Users $1.1B and Grabbed Major Market Share in 2025
MEXC’s 2025 Zero-Fee Strategy Annual Report shows the exchange removed trading fees across 3,026 spot pairs and 203 futures pairs, delivering an estimated $1.1 billion in user savings. About 3.44 million users saved an average of $320 each; the largest single user saving was $9 million. The zero-fee policy reportedly boosted market share in multiple pairs: MEXC captured 72% of PUMP/USDT volume and 59% of LINK/USDT. In futures, BTC and ETH accounted for 70% of the top-10 futures volume while emerging assets saw sharp gains (SUI/USDT ranked fourth; significant USDC pair volume growth with BNB/USDC up 110x and SUI/USDC up 83x). Token launches and smaller-cap tokens benefited — MNT/USDT gained 53 percentage points in market share; PUMP and LINK rose 42% and 34% respectively. In spot markets MEXC dominated tokenized real-world asset (RWA) trading: 73% of McDonald’s token volume, 70% of Amazon, 61% of Meta, 61% of Robinhood and 55% of Coinbase. Since Dec 22, 2025, MEXC extended zero fees to all spot pairs. The report positions zero-fee trading as a liquidity engine and competitive edge, enabling high-frequency strategies and broader retail and institutional access. Primary keywords: MEXC, zero-fee, user savings, market share, BTC, ETH, tokenized RWA.
Bullish
MEXC’s zero-fee rollout is likely bullish for crypto trading activity and exchange competition. Removing transaction costs materially lowers the barrier for retail and algorithmic traders, encouraging higher order frequency, deeper liquidity, and larger notional volumes — all of which support tighter spreads and greater on-chain/off-exchange flow. The report’s numbers (3.44M users, $1.1B saved, concentrated market share in specific pairs) indicate demand-side response: traders migrated volume to MEXC where execution costs fell to zero. Historically, fee reductions and rebates (e.g., maker rebates, zero-fee promotions) have driven volume transience toward platforms offering better economics; some of that volume persists when the exchange sustains liquidity (example: Binance’s competitive fee structure boosting market share after 2017–2019). Short-term implications: increased volume, transient dislocation of order books on rival exchanges, and potential repricing of spreads for affected pairs — creating opportunities for scalpers, market-makers, and liquidity takers. Volatility in newly amplified small-cap and newly listed pairs may increase as zero fees attract speculative flows. Long-term implications: if MEXC sustains zero fees, competitors may cut fees or add incentives, compressing industry fee revenue and shifting competition to token selection, custody services, and institutional features. That could benefit overall market liquidity and lower execution costs, supporting higher on-chain activity and trading volumes — a bullish structural signal for exchange-traded crypto assets and tokenized RWAs. Risks: sustainability of zero-fee economics, potential wash trading or regulatory scrutiny, and concentration risk where one venue dominates specific asset liquidity; these could introduce periodic corrections. Overall, net effect favors higher trade activity and improved liquidity — a bullish outcome for market participants who can adapt to shifting venues.