Whereas the vast majority of the crypto market is struggling losses, an under-the-radar altcoin has skyrocketed 200% in simply seven days.

MDEX (MDX), which payments itself as a “composite DeFi (decentralized finance) ecosystem,” is buying and selling at $0.18 at time of writing, up from $0.06 seven days in the past.

The 183rd-ranked crypto asset by market cap can be up greater than 44% up to now 24 hours alone.

MDEX operates a decentralized alternate (DEX), which simply launched a USDT-margined perpetual buying and selling function this week, information that would have contributed to its native asset’s value leap.

MDEX partnered with on-chain derivatives buying and selling platform ApolloX Finance to launch the function, which helps each cross margin and remoted margin mode. MDEX merchants who use the DEX’s native asset, MDX, get a ten% low cost on the perpetual buying and selling charges.

Explains MDEX,

“MDEX USDT-margined Perpetual buying and selling function helps each cross-position and remoted positions on the identical time. Customers can swap between cross-position mode or isolated-position mode for buying and selling, and it received’t have an effect on the present positions.”

To have a good time the brand new perpetual buying and selling function, MDEX and ApolloX Finance launched a $10,000 airdrop occasion that ran for six days between October tenth to October fifteenth.

Regardless of its large positive aspects this week, MDX stays greater than 98% down from its all-time excessive of $10.11, which it hit in February 2021.

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Featured Picture: Shutterstock/DM7/Nikelser Kate

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