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Home Cryptocurrencies

WEEX Burns $2 Million WXT, 0.61% of the Total Supply

August 4, 2025
in Cryptocurrencies, GlobeNewswire, Web3
Reading Time: 6 mins read
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WEEX

VICTORIA, Seychelles, Aug. 04, 2025 (GLOBE NEWSWIRE) — WEEX, a leading cryptocurrency exchange successfully completed its second-quarter burn of WEEX Token (WXT), in line with its token burn schedule. The total amount burned was 60,509,555 WXT, representing approximately 0.61% of the token’s total supply, valued around 2 million USD at the time of burning, reflecting the continued commitment of WEEX to its long-term growth and tokenomics structure.

The Burn Continues: WEEX’s Strategic Token Burn Schedule

WEEX conducted its first-ever token burn on January 31, 2025, burning a significant 4,000,000,000 WXT (40% of the total supply). Moving forward, the company plans to conduct quarterly burns, typically completed at the start of each quarter. WEEX will allocate 20% of its quarterly profits from trading fees, including futures and spot trading, listing charges, and other sources, to buy back and burn WXT tokens, reinforcing its commitment to creating a deflationary mechanism for the token.

Unlocking Value: The Benefits of Holding and Burning WXT

As the platform’s native token, WXT enhances user engagement and loyalty, driving WEEX’s growth and competitiveness by offering exclusive benefits, reducing trading fees, and incentivizing long-term holding. WXT holders will be eligible for periodic airdrops of new tokens, boosting their exposure to new profiting opportunities. The amount of WXT held will also influence a user’s VIP status, offering more exclusive privileges and lower trading fees. Additionally, trading agents who hold WXT tokens will receive higher profit-sharing rates, incentivizing active participation in the platform.

The WXT token burn mechanism serves as a key element of WEEX’s growth strategy, reducing the token supply to support long-term value appreciation. Since its launch at $0.01 in August 2023, the price of WXT has skyrocketed by 340%, reaching $0.034 at the time of writing, reflecting increasing market confidence. In alignment with platform revenues, a positive cycle is formed that not only rewards loyal users but also fosters sustainable growth for both the platform and the token’s value.

A Vision for the Future: WEEX’s Path to Global Market Leadership

WEEX has achieved significant milestones so far in 2025, including expanding its global team to over 500 members, establishing an international studio in Dubai, and securing a BSP license. Leveraging these strategic moves and its market leading futures liquidity, WEEX aims to reach over 10 million global users and exceed $10 billion in daily trading volume, positioning the platform for continued growth and success. The WXT burn program plays a vital role in this vision, creating a healthy ecosystem that benefits both the platform and its beloved users.

About WEEX

Founded in 2018, WEEX has quickly emerged as a global leader in cryptocurrency trading. With an extensive selection of trading pairs, cutting-edge features like WE-Launch, and partnerships with global icons like Michael Owen, WEEX continues to redefine the trading experience for millions worldwide.

For more information:

Website: WEEX Exchange

Media Inquiries: market@weexglobal.com

Customer Support: support@weex.com

Disclaimer: This content is provided by WEEX. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d483865-3d2b-4b90-a143-a1852fe47e9b

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