IDEX Price Surges 52% in Last 24 Hours Amid Crypto Market Fall
- The strategy eliminates lost transactions and unnecessary gas costs.
- As an AMM and a typical order book model, it provides the best of both worlds.
The lesser-known coins usually get the most attention when the crypto market is in decline. IDEX is one such digital coin, which gained over 55% and took over the market at a time when every other prominent crypto was in the red. At 8:00 a.m. ET, IDEX was trading at $0.2526, an increase of 51.77 percent. In addition, the 24-hour trade volume had increased by 573.76 percent to $817.8 million. It is expected that the cryptocurrency will break beyond the $0.32 mark.
On Tuesday, the official IDEX Twitter feed announced that the Synapse Protocol’s (SYN) token would be featured in an Ethereum trading pair (ETH).
Several Advantages for End-user
An order book model and an automated market maker have been combined in the IDEX DEX, which claims to be the first of its kind. As an AMM and a typical order book model, it provides the best of both worlds. IDEX is a decentralized exchange that combines an off-chain trading engine with an on-chain deal resolution in a novel way. This has several advantages for the end-user.
First and foremost, this strategy eliminates lost transactions and unnecessary gas costs, resulting in a more delightful and productive trading experience. Users may trade immediately, with no need to wait for earlier deals to settle, thanks to the lack of front-running or sandwich assaults.
Consequently, limit orders allow for the execution of more sophisticated order types and trading techniques, opening the door to arbitrage possibilities with other exchanges. According to CoinMarketCap, the IDEX price today is $0.230968 USD with a 24-hour trading volume of $623,877,867 USD.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
