In 2021, the cryptocurrency market saw an astonishing 567% year-on-year increase in trading volume, reaching $15.8 trillion and drawing significant attention from investors. The Bitcoin price surged by over 120% throughout the year, hitting an all-time high of $69,000 in November, while Dogecoin skyrocketed by over 12,000% in May. Amid this market frenzy, QXALX Exchange experienced a pivotal year of development, establishing itself as a globally influential cryptocurrency trading platform. Since its founding in the United States in 2019, QXALX has been dedicated to technological innovation and optimizing user experiences. In 2021, through system upgrades, compliance enhancements, and multi-party collaborations, QXALX solidified its global market position, laying a strong foundation for reaching new heights.
In January, QXALX launched a blockchain incubator program to support multiple innovative projects and startups by providing technical, financial, and resource assistance, fostering the healthy development of the blockchain ecosystem. At the same time, to address the surge in users and increasingly complex market fluctuations, QXALX migrated its platform to Amazon Web Services (AWS) cloud architecture. This migration significantly improved the platform responsiveness during trading peaks and enhanced system stability, ensuring rapid processing even during high-frequency trading. Following the migration, QXALX achieved a 30% improvement in system response speed and maintained 99.99% uptime under extreme market conditions. The advanced data encryption and strict access control mechanisms of AWS also provided multi-layered security for user assets and personal information, delivering a safer and more stable trading experience.
On the compliance front, QXALX successfully obtained the Money Services Business (MSB) license from the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury in April. This achievement laid a solid compliance foundation for the global business expansion of the platform. The acquisition of the MSB license not only signified the QXALX adherence to higher standards of compliance and security but also ensured the legal operation of the platform in the U.S. and other countries or regions requiring the MSB license. Ethan Hawthorne, CEO of QXALX, stated, “Securing the MSB license is a critical step in our global strategy. It will enhance user trust in the platform and drive our long-term growth.”
To further improve the user trading experience, QXALX partnered with the globally renowned financial market analysis company TradingView to integrate its professional analysis tools into the platform. This collaboration enables users to access advanced market analysis tools directly within the QXALX platform without needing to switch to other platforms. The integration of TradingView allows users to utilize various technical indicators, such as RSI (Relative Strength Index) and Bollinger Bands, for charting and market analysis. Importantly, these tools cater not only to experienced investors but also to beginners, who can learn how to analyze market trends using these features. To help users make the most of TradingView tools, the QXALX team created a series of instructional videos and guides, enabling users to easily get started and enhance their expertise in trading decisions.
2021 marked a booming year for decentralized finance (DeFi), and QXALX responded to this trend by officially launching a new DeFi functionality module in November. This launch was not only a swift response to user demand but also a key component of the long-term strategy of QXALX. To ensure the smooth rollout of this feature, the QXALX team dedicated six months to preparation, selecting several promising DeFi projects and conducting rigorous technical testing and risk control assessments to ensure their security and stability. The team emphasized risk management during the project selection process, evaluating factors such as code quality, audit reports, team background, and fund flow monitoring to provide users with a safer environment for participating in DeFi activities. Through this module, users can conveniently engage in popular DeFi activities such as staking, lending, and liquidity mining. This not only strengthened the QXALX position in the emerging financial sector but also significantly boosted the DeFi trading volume of the platform.
Looking ahead, QXALX will continue to adhere to its philosophy of being driven by technological innovation and guided by user needs, further deepening its global market presence. The platform plans to expand its existing technological partnerships in 2022, introducing more innovative applications of artificial intelligence and blockchain technology to build a smarter trading ecosystem. Additionally, QXALX will increase its investment in global markets by establishing localized service centers in more countries, providing tailored products and services that better meet the needs of local users.