A little-known cryptocurrency token grew by 200% in a week

While most of the cryptocurrency market is suffering losses, a little-known altcoin has soared 200% in just seven days.

MDEX (MDX), which the developers position as a «comprehensive DeFi ecosystem,» is trading at $ 0.18 at the time of writing, compared to $ 0.06 seven days ago.

The cryptocurrency asset, which ranks 183rd in the market capitalization ranking, has also increased by more than 44% in the last 24 hours alone. Experts have concluded that the reason for the rise in MDX’s value was the launch of the service of perpetual trading in cryptocurrency derivatives on the exchange.

To celebrate the new perpetual trading feature, MDEX and ApolloX Finance launched a $ 10,000 airdrop that ran for six days from October 10 to 15.

Despite this week’s significant gains, MDX remains more than 98% below its all-time high of $ 10.11, which was recorded in February 2021.