Majority losses of the crypto market continued this week as well. Bitcoin price traded above $19,000 as it did all week. A similar sideways price movement followed in Ethereum and other altcoins. The decline that emerged at the beginning of the week provided a return to old levels with the rise on Thursday and Friday. However, an altcoin on analysts’ radar has exploded with a new subsidiary. Following this stakeholder, the price of the cryptocurrency saw an increase of around 200%.
This altcoin has increased its price by 200%
An altcoin that describes itself as “composite decentralized finance (DeFi)” is up 200 percent. Koindeks.com As we reported, the crypto money on the market with the name MDEX (MDX) was seeing a process of $ 0.06 seven days ago. However, it managed to raise its price after a recent affiliate news. This rise caused the price of the token to rise to $0.18 in just 7 days. This means a 200% price increase. With the rise, the cryptocurrency became the 183rd largest digital asset by market cap.
However, MDEX has also lost some losses in the last 24 hours. The cryptocurrency witnessed a price loss of over 19% as of the day. This was triggered by news in the middle that MDEX announced its latest price rally. The DeFi platform also works as a decentralized exchange (DEX). The platform announced this week that it is launching the USDT margin always trading feature. It is highly anticipated that this is the reason for the rise in the price of the MDX coin.
MDEX (MDX) price takes flight with affiliate
MDEX announced that it has launched the feature that supports both cross margin and isolated margin mode. At the same time, it announced that it has established a subsidiary with the on-chain derivatives trading platform ApolloX Finance. Holders of the DeFi platform’s local presence, MDX, will gain several advantages over the announcement. In the midst of these, trading cryptocurrencies on MDEX comes first. Accordingly, users will receive a permanent 10% discount from the process prices on the platform. Officials of the altcoin project said:
“The MDEX USDT margin always trading feature supports both cross cases and isolated cases simultaneously. Users have the advantage of switching in the middle of the cross-location mode or the isolated mode for trading. Moreover, doing so will not affect the current situation.”
To celebrate the new always-trade feature, MDEX and ApolloX Finance have launched a $10,000 airdrop that runs for six days from October 10 to mid-October 15. Despite its big gains this week, the altcoin is still well below its all-time high of $10.11, which it reached in February 2021. Accordingly, the cryptocurrency sees a 98% lower process than its ATH at the current price level.