The crypto derivatives market has grown rapidly, with more traders seeking advanced tools to manage risk and amplify returns. The leading global exchange, MEXC has expanded its future contract offerings to meet this demand.
This report highlights the top 10 most traded future contract assets on MEXC in 2024. By analyzing these popular assets, we aim to provide insights into market trends and help traders make more informed decisions.
Futures contracts are a type of derivative that allows investors to agree to buy or sell cryptocurrencies at a predetermined price and date in the future. Unlike spot trading, where assets are exchanged immediately at current market prices, futures enable investors to speculate on price movements without owning the underlying asset. They are commonly used for hedging, speculation, and leverage, allowing investors to control larger positions with less capital.
Perpetual futures are a special form of futures contracts with no expiration date. The introduction of perpetual futures has significantly impacted the crypto market. According to recent Cornell University research, the cumulative trading volume of perpetual contracts since 2020 has exceeded $60 trillion. Their popularity stems from key advantages:
- Unlimited Flexibility: Traders can hold positions indefinitely, adjusting strategies without traditional contract expiration constraints.
- Price Synchronization: The funding rate mechanism keeps contract prices closely aligned with spot market prices through a self-correcting mechanism.
- Leverage Potential: traders can control larger positions with minimal capital, amplifying potential returns.
- Risk Management: Particularly effective in volatile markets like cryptocurrencies, enabling easy hedging and speculation.
- Market Adaptability: Allows traders to quickly respond to market changes without the limitations of fixed-term contracts.
These features make perpetual futures an attractive financial instrument for sophisticated traders seeking dynamic and flexible trading strategies.
However, perpetual futures also come with certain risks. As they often involve leverage, traders need to carefully manage their risk exposure, particularly in volatile markets, to avoid potential negative effects from leverage.
The top 10 futures tokens on MEXC, selected from newly listed pairs in 2024, are ranked by daily average trading volume, listed from left to right in descending order of volume.
Most of these tokens are initially listed on MEXC, showcasing the platform’s leadership in introducing new trading opportunities to the market.
The following Market Cap and Circulating Supply data are from CoinMarketCap, with the data as of the time of writing.
WIF_USDT
Community members (telegram): 53,166
Market Cap: $1.98B
Circulating supply: 998.84M WIF
At the time of writing, MEXC WIF/USDT is trading at $ 1.99 with a 24-hour trading volume of $2.95M.
WIF (Dogwifhat) is a memecoin launched on the Solana blockchain in November 2023. With its unique and humorous theme of a dog wearing a hat, it quickly attracted widespread attention from the crypto community. From late February 2024, its price surged from $0.30 to over $2 in under two weeks. By the end of March, it surpassed PEPE to become the third-largest meme coin by market capitalization.
NOT_USDT
Community members (telegram): 17,538,578
Market Cap: $678.3M
Circulating supply: 102.45B NOT
At the time of writing, MEXC NOT/USDT is trading at $0.0066 with a 24-hour trading volume of 355.11M.
NOT (Notcoin) is an innovative cryptocurrency that originated from a viral Telegram game in early 2024. What began as a simple mobile tap-to-earn experience quickly evolved into a dynamic blockchain token. Developed by TON blockchain developers, the project rapidly gained millions of users, offering a novel approach to crypto adoption.
PNUT_USDT
Community members (telegram): 13,802
Market Cap: $740.26M
Circulating supply: 999.85M PNUT
At the time of writing, MEXC PNUT/USDT is trading at $0.74 with a 24-hour trading volume of $2.62M.
PNUT (Peanut the Squirrel) is a new project launched on the Solana blockchain in November 2024, inspired by Peanut, a pet squirrel whose mischievous antics captured the hearts of many through social media posts by his caretaker, Mark Longo. However, Peanut’s tragic death sparked widespread outrage, leading to the creation of PNUT.
POPCAT_USDT
Community members (telegram): 18,178
Market Cap: $742.67M
Circulating supply: 979.97M POPCAT
At the time of writing, MEXC POPCAT/USDT is trading at $0.76 with a 24-hour trading volume of $7.92M.
POPCAT is a memecoin inspired by the viral cat meme from October 2020. The meme features Oatmeal, a domestic short-haired cat, with two images—one showing its mouth closed and the other with its mouth open in an exaggerated “O” shape. Users clicked on Oatmeal’s image to open and close its mouth, accompanied by a humorous “pop” sound.
The meme quickly became a global sensation, and POPCAT was created to honor it. By purchasing POPCAT tokens, supporters fund animal welfare, environmental conservation, and educational initiatives.
MOODENG_USDT
Community members (telegram): 11,295
Market Cap: $267.15M
Circulating supply: 989.97M MOODENG
At the time of writing, MEXC MOODENG/USDT is trading at $0.27 with a 24-hour trading volume of $51.93M.
MOODENG is a viral memecoin on the Solana blockchain, inspired by Moo Deng, a pygmy hippopotamus known for her playful antics. Launched in September 2024 on Pump. fun, it quickly gained popularity by tapping into the internet’s love for animals.
What sets MOODENG apart is its charitable aspect, with a portion of the transaction fees donated to the zoo where Moo Deng resides. This community-driven approach adds value to the coin beyond just investment.
DOGS_USDT
Community members (telegram): 13,925,109
Market Cap: $290.82M
Circulating supply: 516.75B DOGS
At the time of writing, MEXC DOGS/USDT is trading at $0.00056 with a 24-hour trading volume of $3.26B.
DOGS is inspired by Spotty, the mascot created by Pavel Durov, founder of TON, for the Telegram community. Spotty embodies the unique spirit and culture of Telegram. This token is more than just a fun asset. According to the project’s community announcement, all sales revenue from DOGS supports orphanages and children’s homes, continuing Spotty’s charitable legacy.
GOAT_USDT
Community members (telegram): 14,560
Market Cap: $527.93M
Circulating supply: 999.99M GOAT
At the time of writing, MEXC GOAT/USDT is trading at $0.53 with a 24-hour trading volume of $20.52M.
GOAT was generated by a semi-autonomous AI called Truth Terminal, which interacts with users and incorporates Bitcoin investments from A16z Venture Capital. The name “GOAT” is inspired by its connection to goats, symbolizing resilience, courage, and the spirit of freedom.
NEIROCTO_USDT
Community members (telegram): 7,886
Market Cap: $426.04M
Circulating supply: 420.68B NEIRO
At the time of writing, MEXC NEIROCTO/USDT is trading at $0.0037 with a 24-hour trading volume of $507.10M.
NEIRO(NEIROCTO) is a dog-themed memecoin, seen as the successor to Dogecoin. Created by the same owner as Kabosu, the iconic Doge, NEIRO embodies the playful, community-driven spirit of memecoins. Launched on the Ethereum blockchain, it aims to offer a fun ecosystem while supporting charitable initiatives, particularly those focused on animal welfare.
GRASS_USDT
Community members (telegram): 454,395
Market Cap: $610.37M
Circulating supply: 243.9M GRASS
At the time of writing, MEXC GRASS/USDT is trading at $2.52 with a 24-hour trading volume of $718.19K.
GRASS is a decentralized data layer built specifically for artificial intelligence that enables users to share their Internet bandwidth and obtain verifiable network data through a distributed network. This is achieved by leveraging idle internet connections of node operators to collect raw data, which is then processed for AI training purposes.
X_USDT
Community members (telegram): 3,828
Market Cap: $110.12M
Circulating supply: 690B X
At the time of writing, MEXC X/USDT is trading at $0.00016 with a 24-hour trading volume of $14.51B.
$X is a token built on the TON blockchain, designed to power X Empire, a tap-to-earn game that combines AI, NFTs, and Web3 technologies. Accessible via the Telegram platform, X Empire allows players to earn tokens by completing tasks, performing click actions, and actively engaging with the game.
Beyond in-game circulation, $X will support X Empire’s expanding ecosystem, which includes upcoming projects like news feeds and sleep tracking.
Disclaimer: This report does not provide advice on investment, taxation, legal, financial, accounting, consultation, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Research provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users’ investment decisions.
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