A not-so-popular altcoin, although the cryptocurrency market has been trading on a downtrend for a while. MDEX (MDX) managed to gain 200% in just one week.
MDEX (MDX), which describes itself as a “composite DeFi (decentralized finance) ecosystem,” was trading at $0.06 seven days ago at the time of writing, trading at $0.18 today, gaining roughly 200% in just one week.
The 183-ranked crypto asset by market cap has also managed to perform well in a tighter time frame, up more than 44% in the last 24 hours alone.
MDEX announced this week that it will operate a decentralized exchange (DEX) that launched a USDT margin perpetual trading feature, news that could contribute to the local token’s price increase.
MDEX on-chain derivatives trading platform to launch feature supporting both cross margin and isolated margin mode ApolloX Finance He expanded his work by partnering with Local presence of DEX MDXMDEX traders using . will get 10% discount on permanent trading fees.
“The Continuous trading feature with MDEX USDT margin supports both cross positions and isolated positions at the same time. Users can switch between cross position mode or isolated position mode for trading and their current positions will not be affected by this transition.”
To celebrate the new perpetual trading feature, MDEX and ApolloX Finance also launched a $10,000 airdrop event that lasted for six days from October 10 to October 15.
Despite its massive gains this week, MDX is trading down more than 98% from its all-time high of $10.11 reached in February 2021.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.