MoonXBT, the innovative crypto social trading platform, has reached a statistical milestone with its Android application in Google Play Store surpassing 100k downloads early in August. Before this, MoonXBT also passed the code audit of its website by leading blockchain security company Certik.
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In the meantime, other numbers of MoonXBT are reaching new highs as well. The daily active users of MoonXBT has exceeded 6 thousand among which more than 2 thousand are daily active traders. The total daily trading volume of all users on average of MoonXBT has reached over 200 million USDT. The users of MoonXBT covers a wide range of countries and regions across the world with main end users coming from Southeastern Asia – mainly Vietnam, Indonesia, and Malaysia, Turkey, Latin America, and Russia.
According to the platform, reaching these numbers is no easy job in a market like this considering many crypto exchanges have undergone trading volume shrinks and even lay-offs.
MoonXBT attributes its growth in application downloads, users and trading volume to multidimensional factors among which four major ones are: the long tail effect of the MoonXBT copy trading function, the continuous innovation of the platform’s trading products, the timely user favourable policy for spot market and the strong support from community partners in core markets.
As a social trading platform, one of MoonXBT’s flagship functions is copy trading which allows normal traders to follow the professional traders’ trading strategy and have their orders placed and executed automatically in sync with the traders they follow. This saves time and increases the win rate for normal and moreover rookie traders especially in the volatile market. For professional traders, they enjoy a 10% share of the profits made from their followers’ orders. As more and more traders with insufficient trading experience follow the steps of traders of their liking, they come to MoonXBT and download its application so that they can copy trade the traders on the platform.
On top of the above, MoonXBT has demonstrated large innovation capacity with trading products as a young exchange. In just a little over a year’s time span, MoonXBT has grown from a solely contract trading platform to one with all sorts of trading products including liquid contract, warrant options, spot market and OTC. Most recently, it launched the perpetual swap, a kind of derivative product which never expires. The continuous product innovation is also attracting new users with different risk preferences and trading needs and therefore has contributed to the numbers.
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In addition, to cater to the demands of users and lesson the burgers of the traders, MoonXBT is also one of the first few exchanges to implement zero fee policy for multiple trading pairs and later stable trading pairs. The timely policy also helped the platform to win over the users and boosted the MoonXBT application downloads.
Besides all the listed, one of the core reasons for MoonXBT’s milestone achievement is the strong support from the communities especially the working partners from core markets. The major market of MoonXBT now is Southeast Asia in which MoonXBT already has local teams in three countries including Vietnam, Indonesia and Malaysia. MoonXBT is even one of the top three crypto exchanges in Vietnam. The platform has partnerships with various communities and influencers in the region and is actively exploring more co-operations. The platform is also expanding partnerships in other parts of the world actively.
The Google Play downloads breakthrough along with other growing numbers shows how effective the local communities are in facilitating the platform’s growth which in turn bring benefits to the supporting communities. It is also a good testament of MoonXBT’s multidimensional development.
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