- At the time of writing, Polygon (MATIC) was trading at $1.09, up 8.93% over a 24-hour period.
- Gains Network DEX was first released on Polygon before being rolled out to Arbitrum.
- Gains Network DEX has been a major contributor to Polygon’s recent increase in transactional activity.
The price of Polygon (MATIC) has been steadily rising over the past few weeks, returning to the $1.0 level as the broader crypto market continues to recover.
In addition to Polygon following the broader crypto market in its current bullish trend, there has been an increase in trading activity on the network, largely due to the decentralized exchange (DEX) gain network being released on the network. increase. Gains Network DEX was later introduced to Arbitrum, where his daily trading volume now exceeds $230 million.
Gains Network Decentralized Exchange
It has been just over a month since the Gains Network was deployed on the Arbitrum blockchain. DEXs allow crypto traders to use smart contracts to trade various financial derivatives of various assets such as crypto, US stocks, and indices. Also, the staker can earn up to 10% interest on his GNS tokens.
DEXs provide an opportunity for global traders who cannot trade US-listed commodities without relying on banks. DEX so far he has processed over $25 million in trading volume.
Earlier this week, the DEX was trading contest The total reward is $100,000, which may be the reason for the recent spike in trading volume.
In addition to directly impacting the price of Polygon (MATIC), increased activity on the Gains Network has driven the GNS token price up over 40% over the past week.