WEEX destroys $2 million WXT, accounting for 0.61% of total supply

2025 On August 4, leading cryptocurrency exchange WEEXWEEX successfully completed the second quarter WEEX Token (WXT) burn according to its token burn plan. A total of 60,509,555 WXT were burned, accounting for approximately 0.61% of the initial total supply. Based on the token price at the time of burning, the value was approximately $2 million, demonstrating WEEX's ongoing commitment to its long-term growth and token economic structure.

Ongoing Burns: WEEX Exchange's Strategic Token Burn Plan

WEEX conducted its first token burn on January 31, 2025, burning as many as 4,000,000,000 WXT (40% of the total supply). Since then, the company has conducted a burn every quarter as planned, usually completing the previous quarter's burn operation at the beginning of each quarter. WEEX will use 20% of its quarterly profits (from contract and spot trading fees, listing fees, and other income) to repurchase and burn WXT tokens, continuously fulfilling its commitment to building a token deflation mechanism.

Unlocking Value: The Benefits of Holding and Burning WXT

As a platform token, WXT enhances user engagement and loyalty by offering exclusive benefits, trading fee discounts, and incentives for long-term holding, driving WEEX's growth and long-term competitiveness. WXT holders will be eligible for regular new token airdrops, thereby gaining more profit opportunities. The amount of WXT held will also affect users' VIP levels, with higher levels enjoying more exclusive benefits and more favorable fee rates. In addition, traders holding WXT enjoy a higher profit-sharing ratio, encouraging them to actively participate in platform activities.

WXT token burn mechanism is a key element of WEEX's growth strategy, aimed at reducing token supply to support long-term value growth. Since its launch in August 2023 at a price of $0.01, the price of WXT has surged by 340%, reaching $0.034 at the time of writing, reflecting increasing market confidence. The token price and platform revenue grow in tandem, forming a virtuous cycle that not only rewards WEEX's loyal users but also promotes the sustainable growth of the platform and token value.

Future Vision: WEEX Moves Towards Global Market Leadership

WEEX has achieved several significant milestones in 2025, including a global team size exceeding 500 people, the establishment of an international studio in Dubai, and obtaining a BSP license. With these strategic initiatives and its leading liquidity advantages, WEEX aims to cover more than 10 million global users, with daily trading volume exceeding $10 billion, thereby laying the foundation for the platform's continued growth and success. The WXT burn plan plays a crucial role in this vision, creating a healthy ecosystem from which both the platform and its beloved users can benefit.

About WEEX

WEEX was founded in 2018 and has quickly risen to become a global leader in the cryptocurrency trading field. With a wide selection of trading pairs, rich features such as WE-Launch, and partnerships with global icons such as Michael Owen, WEEX continues to provide millions of users worldwide with a top-tier trading experience.

For more information:

Official website:WEEX Exchange

Media inquiries: [email protected]

Customer support: [email protected]