BitMart Research: BMX 2024 Annual Report

Recently,
BitMart
released
the
BMX
2024
Annual
Report.

1. 2024
Crypto
Market
Review

At
the
beginning
of
the
year,
capitalizing
on
the
momentum
generated
by
the
previous
year’s
bull
market,
BTC
achieved
a
peak
price
of
$73,881
in
March.
Nevertheless,
despite
the
occurrence
of
its
halving
event
in
April,
the
market
did
not
transition
into
a
sustained
upward
trajectory.
Instead,
it
underwent
a
significant
decline
in
June,
resulting
in
an
extended
period
of
adjustment.
The
primary
catalysts
in
the
first
half
of
the
year
included
the
approval
of
an
ETF
for
both
Bitcoin
and
Ethereum,
as
well
as
the
halving
event.
While
the
introduction
of
the
ETF
attracted
institutional
investment
and
enhanced
the
recognition
of
cryptocurrency
assets
within
traditional
financial
markets,
the
halving
event,
despite
lacking
immediate
positive
impacts,
is
anticipated
to
substantially
increase
the
value
of
Bitcoin
over
the
long
term.
The
market
correction
observed
in
June
was
precipitated
by
numerous
factors,
including
Japan’s
interest
rate
hikes,
developments
surrounding
the
Mt.
Gox
compensation
case,
and
the
German
government’s
liquidation
of
crypto
assets,
which
collectively
heightened
selling
pressure
and
instigated
market
panic.

In
the
latter
half
of
the
year,
the
cryptocurrency
market
experienced
a
resurgence
of
momentum.
Expectations
regarding
interest
rate
cuts
revitalized
the
market,
while
the
election
victory
of
Donald
Trump
contributed
to
a
robust
recovery,
resulting
in
BTC
prices
exceeding
the
$100,000
threshold
and
reaching
a
new
all-time
high
of
$104,088.
Consequently,
the
total
market
capitalization
of
cryptocurrencies
and
trading
volumes
witnessed
significant
increases.
In
this
context,
altcoins
displayed
strong
performance,
with
substantial
gains
observed
in
SOL,
ETH,
XRP,
and
ADA
across
various
sectors.
Trump’s
proposed
policies
—
characterized
by
the
easing
of
regulations,
the
establishment
of
national
reserves,
and
the
support
of
mining
enterprises
—
emerged
as
central
themes
for
market
recalibration.
This
highlights
the
positive
influence
of
clear
regulatory
frameworks
in
enhancing
User
confidence
and
fostering
growth
within
the
industry.

In
contrast
to
previous
years,
the
participation
of
institutional
users
has
begun
to
significantly
reshape
market
dynamics.
Bitcoin’s
dominance
has
continued
to
strengthen,
while
Ethereum
has
encountered
challenges
to
its
previously
monopolistic
position
due
to
competition
from
emerging
blockchain
technologies
and
its
constrained
value
capture
capabilities.
Concurrently,
the
decline
in
the
popularity
of
altcoins
has
facilitated
the
emergence
of
the
MEME
sector
as
a
new
focal
point
within
the
market.
These
developments
indicate
a
discernible
trend
toward
diversification
within
the
cryptocurrency
industry.

 

2. BMX
Market
Performance

Figure
1:
Annual
Changes
in
Exchange
Platform
Tokens’
Prices
and
Market
Capitalizations

(Data
Source：CMC、CG)

 

According
to
data
from
CoinMarketCap
and
CoinGecko,
the
prices
and
market
capitalizations
of
platform
tokens
from
major
exchanges
have
exhibited
an
upward
trajectory
over
the
past
year,
although
notable
variations
in
performance
have
been
observed.
BMX
experienced
a
price
escalation
of
57.9%
accompanied
by
a
market
capitalization
increase
of
56.8%,
culminating
in
a
total
market
capitalization
of
$262
million,
indicative
of
consistent
growth.
Generally,
lower-market-cap
tokens
have
experienced
substantial
benefits
due
to
their
smaller
baselines,
resulting
in
rapid
growth.
In
contrast,
higher-market-cap
tokens
have
demonstrated
stable
growth,
reflecting
resilience
albeit
with
comparatively
slower
rates
of
increase.

It
is
worth
noting
that
Trump’s
presidency
may
lead
to
clearer
crypto
market
regulations,
potentially
reshaping
the
global
cryptocurrency
landscape.
This
development
could
significantly
impact
the
future
of
the
crypto
industry.
The
resignation
of
SEC
Chairman
Gary
Gensler
further
signals
a
turning
point
for
crypto
enterprises
previously
targeted
by
SEC
lawsuits.
Centralized
exchanges,
long
under
SEC
scrutiny,
are
likely
to
benefit
substantially
from
this
leadership
change,
potentially
achieving
significant
progress
in
regulatory
compliance.

 

Figure
2:
Comparison
of
Exchange
Spot
Average
Daily
Trading
Volume
and
Circulating
Market
Capitalization
Over
the
Past
Year

(Data
Source：CMC、CG)

 

According
to
data
from
CoinGecko,
the
circulating
market
capitalization
of
BMX
currently
amounts
to
$262
million,
a
figure
that
is
significantly
lower
than
that
of
other
exchange
platform
tokens.
However,
BitMart
has
demonstrated
an
average
daily
spot
trading
volume
of
$803
million
over
the
past
year.
A
comparison
of
BMX’s
market
capitalization
with
BitMart’s
daily
trading
volume
reveals
that
the
exchange’s
trading
activity
exceeds
the
valuation
of
its
platform
token.
Furthermore,
both
the
market
capitalization
and
price
of
BMX
have
experienced
considerable
growth
over
the
last
year.
This
trend
indicates
that,
despite
its
relatively
modest
market
capitalization,
BMX
is
undergoing
heightened
market
activity
and
demand,
as
the
broader
market
gradually
starts
to
acknowledge
its
potential
value.

 

3. BMX
Burn
Progress

Figure
3:
BMX
Burn
Progress
Table

In
accordance
with
the
repurchase
mechanism
detailed
in
the
BMX
whitepaper,
BitMart
executed
the
repurchase
of
approximately
5,672,978
BMX
tokens
in
the
year
2024,
amounting
to
a
total
value
of
approximately
$2,034,343.
This
series
of
repurchase
initiatives
underscores
BitMart’s
ongoing
commitment
and
confidence
in
its
platform
token,
BMX.
By
allocating
a
portion
of
its
revenue
generated
from
transaction
fees
towards
these
repurchases,
BitMart
has
effectively
decreased
the
circulating
supply
of
BMX
in
the
market,
thereby
contributing
to
its
stability
and
scarcity.

 

4. New
Features
and
Activities
for
BMX
in
2024

Figure
4:
New
BMX
Features
in
2024

In
2024,
BMX
introduced
a
series
of
new
features
that
substantially
enhanced
its
value
and
liquidity.
The
implementation
of
a
staking
feature
enables
users
to
obtain
stable
annual
returns
without
facing
any
entry
barriers,
thereby
attracting
a
larger
number
of
long-term
participants.
Additionally,
the
small
asset
conversion
feature
addresses
the
issue
of
“dust”
balances
in
user
accounts,
improving
the
utility
of
minor
assets
while
expanding
the
practical
use
cases
for
BMX.
Users
can
also
benefit
from
transaction
fee
discounts
and
engage
in
various
platform
activities.
Furthermore,
the
establishment
of
a
P2P
trading
market
has
rendered
BMX
trading
more
adaptable,
allowing
users
to
conduct
transactions
using
diverse
payment
methods,
which,
in
turn,
increases
the
liquidity
and
market
demand
for
BMX.
The
listing
of
BMX
on
KuCoin
signifies
an
important
step
in
its
expansion
within
the
global
market,
drawing
greater
interest
from
users.
Additionally,
the
introduction
of
the
BMX
Flash
Sale
feature
has
further
elevated
the
exclusive
benefits
available
to
holders.

The
introduction
of
the
stake-to-list
feature
has
empowered
BMX
holders
to
make
independent
decisions
regarding
the
listing
of
projects
on
BitMart,
while
also
benefiting
from
shared
transaction
fees
and
additional
advantages.
This
initiative
fosters
a
sense
of
collective
ownership,
enhances
decision-making
authority,
and
provides
users
with
control,
growth
opportunities,
and
shared
responsibilities
within
the
BitMart
community.

The
recent
enhancements
to
the
BMX
platform
have
significantly
broadened
its
range
of
applications,
offering
users
an
increased
array
of
opportunities
for
investment
returns
and
active
participation.
With
functionalities
including
staking,
conversion,
peer-to-peer
trading,
IEO,
and
stake-to-list
mechanisms,
the
diverse
features
of
BMX
have
substantially
elevated
its
market
appeal
and
liquidity.
These
improvements
have
not
only
enriched
the
user
experience
but
have
also
contributed
to
the
platform’s
growth
and
adoption
within
the
cryptocurrency
market.

 

Figure
5:
New
BMX
Activities
in
2024

In
2024,
BMX
implemented
several
strategic
initiatives
that
significantly
enhanced
its
market
appeal
and
user
engagement.
These
initiatives
encompassed
trading
competitions,
external
collaborations,
and
community-building
programs.
The
trading
competitions
incentivized
a
substantial
influx
of
participants,
thereby
increasing
the
liquidity
of
BMX.
External
collaborations
not
only
served
to
promote
BMX
but
also
elevated
the
visibility
of
related
projects.
The
community-building
program
recognized
and
rewarded
active
members,
while
also
providing
essential
traffic
support.
Collectively,
these
initiatives
not
only
broadened
the
applications
of
BMX
but
also
improved
its
liquidity
and
market
influence.
Through
this
program,
BMX
fostered
user
retention,
attracted
a
greater
number
of
dedicated
users
and
community
contributors,
and
bolstered
its
market
activity
and
long-term
growth
potential.

5. BMX
Value
Benefits

– Higher
Account
Levels
and
Trading
Fee
Discounts:
BMX
holders
are
eligible
for
higher
account
levels
and
better
trading
fee
rates.
The
more
BMX
a
user
holds,
the
greater
the
discount
they
receive.

– Higher
Copy
Trading
Profit
Share:
BMX
holders
qualify
for
a
higher
percentage
of
copy
trading
profit
sharing.

– Participation
in
Launchpad:
BMX
holders
can
participate
in
BitMart’s
exclusive
Launchpad
and
receive
free
airdrops
of
newly
listed
tokens.

– VIP
Membership
Upgrade
Criteria:
BitMart
offers
a
lifetime
VIP
membership
plan,
and
holding
BMX
is
one
of
the
criteria
for
upgrading.

– Stake-to-List:
Users
can
stake
BMX
to
support
their
favorite
projects
and
earn
rewards.

– Participation
in
BitMart
Products:
Users
can
stake
BMX
to
participate
in
various
products
offered
by
BitMart
and
earn
higher
interest
rates.

– Ecosystem
Payment
Token:
BMX
can
be
used
as
a
payment
token
for
projects
within
the
BitMart
ecosystem.

– Holding
Trading
Rebate:
Invite
friends
to
hold
and
trade
BMX
to
earn
rebates.

 

Risk
Warning:

Use
of
BitMart
services
is
entirely
at
your
own
risk.
All
crypto
investments,
including
earnings,
are
highly
speculative
in
nature
and
involve
substantial
risk
of
loss.
Past,
hypothetical,
or
simulated
performance
is
not
necessarily
indicative
of
future
results.

The
value
of
digital
currencies
can
go
up
or
down
and
there
can
be
a
substantial
risk
in
buying,
selling,
holding,
or
trading
digital
currencies.
You
should
carefully
consider
whether
trading
or
holding
digital
currencies
is
suitable
for
you
based
on
your
personal
investment
objectives,
financial
circumstances,
and
risk
tolerance.
Investing
involves
risks,
and
the
content
should
be
approached
with
caution.
BitMart
does
not
provide
any
investment,
legal
or
tax
advice.

 

Media
contact

Contact: Yuan
yuan

Company
Name: BitMart

Website: https://www.bitmart.com/

Email:

[email protected]

Disclaimer:
The
information
provided
in
this
press
release
is
not
a
solicitation
for
investment,
nor
is
it
intended
as
investment
advice,
financial
advice,
or
trading
advice.
It
is
strongly
recommended
you
practice
due
diligence,
including
consultation
with
a
professional
financial
advisor,
before
investing
in
or
trading
cryptocurrency
and
securities.