MX price rises by more than 20%, MEXC is rumored to be acquired by Bybit

In the trading market, there is a faintly visible grass snake gray line behind every rise and fall. The cryptocurrency market is no exception.

According to data from Coingecko, on September 18, 2021, the price of MX on the Matcha Exchange (MEXC) platform rose 28% from yesterday, reaching a maximum of 1.93 USDT. This is the second time that MX has recorded an intraday increase of more than 20% since the 15th.

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This is all related to a rumor circulating in the community.

Matcha was acquired by Bybit?

On September 15, there was a rumor that “Matcha was acquired by Bybit” from the community, and the price of MX quickly rose from 1.3 SUDT to 1.6 USDT.

On September 16th, in response to the rumors of matcha being acquired, the relevant person in charge of MEXC responded that “the rumors are untrue” and said, “At present, MEXC is increasing its global layout and making positive progress in overseas business. In the future, it will continue to adhere to the user-centered approach. Principle layout of the global market”.

After MEXC rejected the rumors, the price of MX retreated below 1.5 USDT on September 17.

After MX fell below 1.5 USDT, MX began to break again strongly, rising to 1.93 USDT around 13:00 on September 18, an increase of more than 28%.

After the head of MEXC dispelled the rumors that MEXC was acquired on September 16, why did MX rise sharply again? It is still related to the rumors of MEXC being acquired.

According to internal sources, the rumors of MEXC being acquired by Bybit should be true. There are also investors in the community that they bought MX from 1.1 USDT.

Why Bybit?

Who is Bybit? According to Coingecko’s data, Bybit ranks third in derivatives exchanges based on the volume of open positions; Bybit ranks sixth in terms of 24-hour trading volume.

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Why the rumored object is Bybit? Some analysts said that firstly, Bybit is the world’s top five derivatives exchange, with an annual profit of billions of dollars; secondly, after Bybit completely withdraws from China and moves overseas in 2020 and recently launched BitDAO, the Bybit ecosystem needs to be domestically and centralized. The spot market is complementary; again, Bybit is created for the domestic team, and there are no obstacles in language and culture.

And Bybit has been moving frequently recently.

Bybit announced on June 6 the launch of BitDAO, a decentralized autonomous organization aimed at promoting the development of open finance, and completed $230 million in financing. Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital led the investment.

On August 10, BitDAO launched the first step of the DeFi ecosystem, auctioning 200 million BIT tokens on the Sushi MISO platform in the Netherlands, raising nearly 350 million U.S. dollars. As of press time, the market value of BIT is 410 million USDT and the market value of MX is 180 million USDT.

In the future, BitDAO intends to launch various DeFi products, including an encrypted futures exchange and a decentralized version of Bybit.

After layout, Bybit has formed a centralized derivatives exchange and a decentralized DeFi ecosystem, and there is still a lack of a centralized spot exchange.

MEXC is Bybit’s choice? The crypto community will wait and see.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/mx-price-rises-by-more-than-20-mexc-is-rumored-to-be-acquired-by-bybit/
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