Finance

Exchange Tokens Heating Up: HT Leads the Way as Traders Eye MX

5 hours ago
Bitcoin Ethereum News

The spotlight is back on exchange tokens, and this time, it is Huobi Token ($HT) stealing the show, $MX Looks solid too.

According to data from CoinMarketCap, $HT exploded more than +220% in 24 hours, with trading volume surging an incredible 3585% to $2.2 million. After $OKB caught attention yesterday, today belongs to Huobi’s native token, as traders rush in to capture the sudden momentum.

The rally started with a major catalyst on July 15 when League of Kingdoms Hunters (Arena-Z) integrated $HT as an in-game rewards token. This move created excitement at the intersection of gaming and DeFi, offering Huobi Token a new use case that directly links exchange liquidity with the growing GameFi market. The announcement quickly spread across trading communities, where crossover narratives often spark sharp price action. Adding to the fuel, interest in China-linked tokens has been building as Asian trading sessions deliver stronger liquidity flows while Bitcoin dominance cools. With capital rotating away from BTC, traders are chasing high-beta assets, and CEX tokens are emerging as the clear beneficiaries.

However, the picture is not entirely risk-free. Regulatory uncertainty is never far from this sector, and Gate’s recent delistings on the HT chain remind traders of the potential downsides. The removal of multiple trading pairs signals that exchanges remain under pressure from compliance rules, particularly in Asia, where sudden regulatory changes can hit markets without warning. Volume patterns in $HT’s chart also suggest that a portion of this rally is driven by short-term speculative flows, the kind that can reverse just as quickly as they appear. This creates a volatile environment where the upside can be dramatic, but sharp pullbacks remain a constant risk.

$OKB Exchange Token And Others, Is $MX the Next Mover?

Even so, the momentum in CEX tokens is undeniable. Yesterday it was $OKB making headlines after supply cuts drove prices higher. Before that, Bitget’s $BGB saw its own surge. Now $HT has taken the spotlight, and traders are asking the obvious question: which token comes next? The current setup is familiar—exchanges cut supply or introduce aggressive token burns, liquidity floods in, and FOMO builds across social platforms. Once one token pumps, the hunt for the next undervalued candidate begins immediately.

Many eyes are now turning toward MEXC’s $MX token as the potential breakout waiting in the wings. On paper, the case looks strong. @MEXC_Official ranks among the top 10 global exchanges for both spot and perpetual trading volume, yet its native token trades at a market cap of only $300 million, far below its competitors. For comparison, Bitget’s $BGB sits at a $5 billion valuation, $OKB at $2 billion, Gate’s $GT at $2.3 billion, and KuCoin’s $KCS at $1.6 billion. The valuation gap is hard to ignore, especially when traders look for lagging tokens in a hot narrative.

MEXC’s management has also moved to strengthen tokenomics around $MX. A series of token burns was recently completed under the exchange’s new framework, permanently removing tokens from circulation and tightening supply. More importantly, MEXC announced that total $MX supply will be strictly capped at 100 million tokens with no future dilution planned. For traders, this creates the kind of scarcity story that has repeatedly driven exchange tokens higher. Limited supply plus growing exchange volumes often forms the perfect setup for a breakout if market sentiment stays bullish.

Still, this market moves fast, and liquidity does not stay in one place for long. The same traders bidding up $HT today could rotate into $MX tomorrow—or abandon the entire sector if broader risk sentiment shifts. Momentum-driven rallies bring opportunity, but they also carry elevated volatility. The sequence often looks the same: supply cut or burn announced, social media amplifies the news, trading volume spikes, price surges, and then early buyers take profits into the strength. Those who enter late risk holding the top when the music stops.

For now, $HT remains the clear winner of the week, delivering triple-digit gains in a single day. $OKB showed the same strength yesterday before cooling off, and $MX might be next if traders chase undervalued exchange tokens with strong tokenomics. As long as Asian liquidity stays firm and Bitcoin dominance drifts lower, the CEX token trade remains alive—but with the usual mix of rapid gains, sudden reversals, and constant regulatory overhangs.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Source: https://nulltx.com/exchange-tokens-heating-up-ht-leads-the-way-as-traders-eye-mx/