One Week Later, Under-the-Radar Altcoin Erupts 200% as Crypto Market Volatility Returns
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An under-the-radar altcoin has risen 200% in just seven days, while the majority of the cryptocurrency market is experiencing losses.
The 183rd-ranked cryptocurrency by market cap has gained more than 44% just in the last day.
The price of MDEX (MDX), which describes itself as a “composite DeFi (decentralised finance) ecosystem,” has increased from $0.06 seven days ago to $0.18 at the time of writing.
The decentralised exchange (DEX) run by MDEX recently introduced a USDT-margined perpetual trading function, which may have caused its native asset’s price to increase.
Describes MDEX
The innovation, which supports both cross margin and isolated margin mode, was launched by MDEX in collaboration with on-chain derivatives trading platform ApolloX Finance. MDEX traders receive a 10% discount on the perpetual trading fees when they utilise MDX, the DEX’s native asset.
The MDEX USDT-margined Perpetual Trading functionality allows for simultaneous cross-positioning and isolation of positions. Users can trade in cross-position mode or isolated-position mode without affecting their current positions.
MDEX and ApolloX Finance organised a $10,000 airdrop event between October 10 and October 15 to commemorate the new permanent trading functionality.
Despite this week’s enormous gains, MDX is still down more than 98% from its all-time high of $10.11, which it reached in February. Launched by MDEX in association with on-chain derivatives trading platform ApolloX Finance, the innovation allows both cross margin and isolated margin mode. When using MDX, the DEX’s native asset, traders that use MDEX enjoy a 10% discount on the perpetual trading fees.
News Summary:
- One Week Later, Under-the-Radar Altcoin Erupts 200% as Crypto Market Volatility Returns
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