The price of the MDX token rose by 145% in a week

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The value of the cryptocurrency asset Mdex (MDX) increased by 145.59% over the past 7 days as of 12:00 Moscow time on October 14, 2022. The virtual currency has become the most profitable in the decentralized finance (DeFi) sector over the past week. The rate was fixed at $0.151, and the total market supply was $136.96 million.

In the last 24 hours alone, this digital asset has added 52.89% in price. At the same time, the volume of trading transactions carried out by traders from all over the world amounted to $216.66 million in 24 hours.

Mdex is a DeFi asset trading protocol and automated market maker built on the Ethereum and Huobi blockchains. The decentralized platform offers clients the possibility of liquidity mining, traditional cryptocurrency trading, as well as staking.

The experts concluded that the reason for the growth in the cost of MDX was that on October 10 of this year, the developers announced the launch of a perpetual trading service for crypto derivatives on the exchange. In addition, the platform supports leverage up to 200x and gives a 10% discount on transaction fees when paying in Mdex tokens.

This virtual asset is also used to secure loans and plays the role of a key tool for crypto lending. MDX is also needed for profitable farming and staking. Finally, it enables large holders to participate in voting and make decisions on managing the project ecosystem.

The total emission of the Mdex cryptocurrency is 1 billion MDX tokens, 80% of which are provided for liquidity miners.

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