Over the past week, the price of the Mdex project token (MDX) has increased by 145.59%. This currency was in first place in terms of profitability in the DeFi sector. The price of the token stopped at $0.151. The total offer is $136.96 million.
The value of the asset began to grow sharply and it added about 52% in just a day.
Mdex — a protocol for trading and lending with digital cryptocurrencies, allowing the creation of a modern asset through transactions between independent nodes of mining and other technologies. The project is based on Ethereum and Huobi. Users can mine liquidity, trade cryptocurrencies and participate in staking.
Experts believe that the sudden rise in MDX can be attributed to the launch of a perpetual trading service for crypto derivatives. Mdex supports up to 200x leverage and offers a 10% discount on transaction fees when paying in native tokens.
The MDX token can help to provide a loan function and plays the role of a key instrument in lending. Another digital currency is used during farming and staking. Token holders can take part in voting and the future development of the project.
Earlier, analysts recorded an increase in the cost of ENS per day by 16%.
