The cryptocurrency that grew by 145% in a week is named

Over the past 7 days, the value of the cryptocurrency asset Mdex (MDX) has increased by 145.59%. The virtual currency has become the most profitable in the decentralized finance (DeFi) sector. The MDX exchange rate was fixed at $ 0.151, and the total market capitalization amounted to $ 136.96 million. Over the past day alone, the digital asset has gained 52.89% in value. At the same time, the volume of trading transactions made by traders amounted to $ 216.66 million.

Mdex is a protocol for trading DeFi assets and an automated market maker built on the Ethereum and Huobi blockchains. The decentralized platform offers customers mining opportunities, traditional cryptocurrency trading, and staking.

Experts have concluded that the reason for the growth in MDX’s value was the launch of a service for unlimited trading in cryptocurrency derivatives on the exchange. In addition, the platform offers a 10% discount on transaction fees when paying for services in Mdex tokens, which strengthens the token’s position. The virtual asset is also used to secure loans and plays a key role in cryptocurrency lending. Ultimately, virtual currency enables large crypto holders to make decisions on how to manage the project’s ecosystem. The total issue of Mdex cryptocurrency is 1 billion MDX tokens.

The flagship cryptocurrency has also added to its price today. For the first time in the last 7 days, bitcoin jumped by 3.72%. Thus, on October 14, 2022, the value of the digital asset amounted to $ 19,570, and the market capitalization crossed the $ 375.33 billion mark . As for Ethereum, the cryptocurrency rate has increased by 3.51% over the past day, with the virtual coin trading at $ 1,321. The market capitalization rose to $ 162.78 billion.