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While most of the cryptocurrency market is losing money, an under-the-radar altcoin surged 200% in just seven days.
MDEX (MDX), which describes itself as a composite DeFi (decentralized finance) ecosystem, is trading at $0.18 at the time of writing, up from $0.06 seven days ago.
The 183rd largest crypto asset by market capitalization is also up more than 44% in the last 24 hours alone.
MDEX operates a decentralized exchange (DEX). launch This week’s USDT margin perpetual trading feature is news that may have contributed to the rise in native asset prices.
MDEX has partnered with on-chain derivatives trading platform ApolloX Finance to launch the ability to support both cross and isolated margin modes. MDEX traders using MDX, the DEX’s native asset, receive a 10% discount on perpetual trading fees.
Description of MDEX,
The MDEX USDT Margin Perpetual Trading feature supports both cross and isolated positions at the same time. Users can switch between cross position mode or isolated position mode for trading, existing positions will not be affected. plug.”
MDEX and ApolloX Finance Celebrate New Perpetual Trading Capabilities launch A $10,000 airdrop event held over 6 days from October 10th to October 15th.
Despite this week’s big rally, MDX remains down more than 98% from its all-time high of $10.11 set in February 2021.
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Featured Image: Shutterstock/DM7/Nikelser Kate
