WEEX Exchange Burns $2 Million Worth of WXT, Accounting for 0.61% of Total Supply

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Second Quarter WXT Burn Completed, WEEX Continues to Advance Deflationary Tokenomics

On August 4, 2025, the cryptocurrency exchange platform WEEX successfully completed the second-quarter WEEX Token (WXT) burn as part of its token burn plan. A total of 60,509,555 WXT were burned, representing approximately 0.61% of the initial total supply. Calculated at the coin price at the time of the burn, this amounted to around $2 million, demonstrating WEEX's continued commitment to its long-term growth and tokenomic structure.

Burn Continues: WEEX Exchange Platform's Strategic Token Burn Plan

WEEX conducted its first token burn on January 31, 2025, burning a whopping 4,000,000,000 WXT (40% of the total supply). Subsequently, the company has been conducting burns quarterly, usually completing the burn for the previous quarter at the beginning of each new quarter. WEEX allocates 20% of its quarterly profits (from contract and spot trading fees, listing fees, and other revenue) towards repurchasing and burning WXT tokens, fulfilling its commitment to building a deflationary token mechanism.

Unlocking Value: 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 are eligible for regular new token airdrops, providing them with more earning opportunities. The amount of WXT held also influences users' VIP levels, with higher levels enjoying more exclusive benefits and discounted fee rates. Furthermore, traders holding WXT receive a higher referral commission rate, incentivizing active participation in platform activities.

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

Future Vision: WEEX's Path to Global Market Leadership

As of 2025, WEEX has achieved several significant milestones, including a global team size exceeding 500, establishing an international studio in Dubai, and obtaining a BSP license. With these strategic initiatives and its leading liquidity advantage, WEEX aims to reach over 10 million global users, surpass a daily trading volume of $10 billion, 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 that benefits both the platform and its devoted users.

About WEEX

Founded in 2018, WEEX has rapidly emerged as a global leader in the cryptocurrency exchange space. With a wide range of trading pairs, rich features such as WE-Launch, and partnerships with global idols like Michael Owen, WEEX continues to provide top-tier trading experience to millions of users worldwide.