rewrite this title The Future of Memecoin Trading on Web3 with MoonX

by
Victoria d’Este

Published: April 03, 2025 at 11:24 am Updated: April 03, 2025 at 11:24 am

by Ana

Edited and fact-checked:
April 03, 2025 at 11:24 am

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Memecoins have attracted a lot of interest and trading activity recently. However, the decentralized structure of these tokens poses issues for traders, notably in terms of security and usability. To address these issues, BYDFi has created MoonX, a tool that streamlines the memecoin trading process for Web3 customers.

The Growth of Memecoins on the Cryptocurrency Market

Memecoins have grown from online jokes to major participants in the cryptocurrency industry. Tokens like Dogecoin and Shiba Inu have market capitalizations in the billions, demonstrating their enormous popularity. Transaction fees from memecoin trading on the Solana blockchain alone exceeded $3.093 billion in 2024, demonstrating the assets’ enormous on-chain activity.

Despite its popularity, memecoins are associated with extreme volatility and speculative trade. This draws “degen” traders, who seek high-risk, high-reward possibilities. The fast development of new memecoins, with hundreds of tokens appearing every day, confuses the trading market and makes it difficult for traders to identify quality projects.

The decentralized architecture of on-chain trading, while providing autonomy, exposes traders to security risks. In 2024, on-chain trading platforms saw serious security breaches, highlighting the weaknesses in the cryptocurrency ecosystem. Notably, in July, the Indian cryptocurrency exchange WazirX suffered a hack that resulted in a loss of around $234.9 million, with the attacker identified as the North Korean-affiliated Lazarus Group.

Similarly, in December, Japan’s DMM Bitcoin suffered a heist worth more than $305 million. These occurrences amounted to a total of $2.2 billion stolen from cryptocurrency platforms in 2024, a 21% increase over the previous year. The widespread use of compromised private keys and targeted assaults on centralized exchanges emphasizes the crucial need for stronger security measures in on-chain trade.

Introducing MoonX – A Solution for Memecoin Traders

In response to these issues, BYDFi, a worldwide cryptocurrency exchange, announced the creation of MoonX, a Web3 on-chain trading platform specifically designed for memecoin enthusiasts. MoonX promises to provide a quick, safe, and user-friendly trading experience that addresses the unique demands of memecoin traders.

In order to fortify MoonX’s security infrastructure, BYDFi formed a partnership with Safeheron, a platform dedicated to self-custody and the protection of digital assets. This alliance incorporates cutting-edge security solutions into MoonX, such as the MPC architecture, which disperses key management to minimize the risks linked to centralized key exposure. Moreover, a trusted execution environment ensures the protection of vital data and operations from potential security breaches.

Cross-device security incorporated in the platform allows for easy trading across mobile and online platforms while ensuring a secure environment. Safeheron’s powerful cryptographic protocols, which include elliptic curve algorithms such as ECDSA and EdDSA, strengthen the platform’s defenses against key management assaults.

MoonX provides various features that are suited to the demands of memecoin traders. The platform provides features like taking profit and stopping loss, which help traders control risk and profit even in unpredictable markets. The smart money and signal copy trading features allow users to follow and replicate the moves of high-net-worth individuals and institutional investors in real-time.

MoonX also has limit orders and one-click buy/sell options, combining the ease of centralized exchange interfaces with decentralized features that provide more control over transactions. Profit optimizing strategies are also available to assist traders lock in profits, get back their initial investments, and keep extra assets at the lowest possible cost.

Michael’s Perspective on MoonX

Michael Hung, the Co-Founder of BYDFi, shared the company’s aspirations for MoonX, describing it as not just a trading platform but a representation of BYDFi’s forward-thinking approach to Web3. He highlighted that by incorporating Safeheron’s state-of-the-art security technology, the company is committed to creating the most secure and seamless environment for trading Meme Coins, aiming to resolve security challenges within Web3 trading.

The development of MoonX by BYDFi indicates an important move forward in the memecoin trading market. MoonX promotes itself as a complete solution for traders navigating the dynamic and turbulent memecoin market by solving common security issues and improving user experience. While the platform progresses, it represents a wider market trend of developing customized, safe, and user-centric trading environments inside the Web3 ecosystem.

About The Author

Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.

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Victoria d’Este