The price of IDEX cryptocurrency was up 41 per cent in the last 24 hours and trading at US$ 0.1655 per token at the time of writing. Meanwhile, the market cap was up 37 per cent to $102.8 million.
Notably, the IDEX crypto recorded a surge of over 650 per cent in its one-day volume, and it could be due to increased investors’ attention.
IDEX crypto appears to be gaining attention after it announced listing SYN/ETH on the IDEX v3 market, which is said to be the world’s first Hybrid Liquidity Decentralized Exchange (DEX).
What is IDEX crypto?
It is the native token of IDEX, which claims to be the first Hybrid Liquidity DEX. IDEX combines efficient order book and matching with Automated Market Making (AMM).
AMMs are an integral part of DEXs, and they remove any intermediaries in trading virtual currencies. IDEX mixes centralized and decentralized exchanges and enables users to get the best spreads and avoid failed transactions.
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According to the platform’s whitepaper, IDEX is unique as it uses an off-chain trading engine, and it helps achieve extreme performance. IDEX is capable of processing tens of thousands of orders per second.
The majority of the decentralized exchanges are on-chain, and they experience high latency with blockchain transactions.
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IDEX claims that users get the benefit of no failed trades on its platform. When a trade fails in a DEX, it leads to wasted gas fees. IDEX says it confirms orders instantly, which helps users get the best price.
IDEX crypto has a total supply of 1 billion tokens, and its circulating supply is 635.5 million IDEX tokens. According to CoinMarketCap, it currently ranks at 368th position.
If you are interested in buying this cryptocurrency, it is available on cryptocurrency exchanges like Uniswap V2, Binance, Balancer, and Gate.io.
On January 14, Crypto.com announced that it listed the IDEX crypto, and in the last seven days, the cryptocurrency’s price has surged more than 40 per cent.
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Read More: What is IDEX crypto & how to buy this token?