MEXC, the global crypto exchange known for zero-fee trading and a user-first approach, released its December activity report. The data reveals a clear shift: infrastructure projects occupied 50% of the top 10 tokens by spot trading volume, while privacy computing and real-world asset (RWA) tokenization led capital flows. The once-hot meme token segment saw its share shrink to just 10% of top-performing positions.
Infrastructure and Privacy Dominate; Meme Tokens Fall to 10%
December's trading patterns underscored concentrated capital moving toward utility-driven narratives. Among the top 10 tokens by spot volume, infrastructure projects accounted for half, including NIGHT, RLS, ZKP, STABLE, and US. DeFi and Web3 Entertainment each represented 20% of top performers. In contrast, meme tokens dropped from previous months' highs to only 10%.
Notable institutional backing distinguished the month's listings. NIGHT, led by Ethereum and Cardano co-founder Charles Hoskinson, focuses on zero-knowledge proof technology for privacy infrastructure. STABLE, incubated by Bitfinex and Tether, uses USDT as gas for compliant payment solutions. These projects brought established teams and technical foundations that earlier memes lacked.
Privacy and RWA Tokens Soar Nearly 2,000%
Privacy-focused and real-world asset tokens delivered substantial returns. ZKP, NIGHT, and RLS each achieved gains approaching 2,000%. The DeFAI sector also shone with SEEK and THQ posting roughly 900% gains across Ethereum and BASE ecosystems.
From a blockchain ecosystem perspective, Ethereum led with four positions across RWA, privacy, and entertainment sectors. Solana secured two spots, while emerging chains including Berachain, SUI, and StableChain demonstrated strong performance, reflecting broad ecosystem representation.
Launchpad Peaked at ~70% Returns; Airdrop+ Participation Up 142%
MEXC's Launchpad, with its 'Quality First' strategy, delivered approximately 70% peak returns on Lighter (LIT), validating the platform's asset selection for early-stage access. The Airdrop+ initiative maintained momentum with 30 events across DePIN, Privacy Computing, and RWA sectors. Participation surged 142% month-over-month with an 80% win rate, combining probability with meaningful upside.
The platform's Spin & Win format integrated gamification directly into trading activity, allowing users to earn rewards through standard execution—reinforcing MEXC's user-first commitment.
MEXC's December performance reflects evolving market dynamics: capital allocation increasingly prioritizes utility-driven projects with institutional backing and technical fundamentals. Privacy and RWA tokens have emerged as the new focal point, while meme-trading fervor has notably receded.