Why is IDEX Crypto Rising?
Why is IDEX Crypto Rising?
IDEX is a decentralized exchange with centralized exchange parts that speed up the network while retaining its integrity as a decentralized ecosystem. The platform is on Ethereum as well as Binance Smart Chain. The automated market maker concept used by most similar initiatives to execute trades on a DEX. However, IDEX takes a different approach.
IDEX is an order book exchange. The project combines centralized and decentralized exchange components to enable faster ledger transaction execution. The vast majority of DEX platforms on the market are AMMs. In contrast, IDEX employs order books and centralizes the technology for matching orders across the network.
The IDEX cryptocurrency drew the attention of investors on Tuesday, as shown by its price increase. The IDEX token has increased by more than 122 percent, while its volume has increased by more than 1153 percent in the last 24 hours.
IDEX is a hybrid liquidity decentralized exchange that serves as an order book and an automated market maker (AMM). It promises to be the first to combine traditional order book characteristics with the security and liquidity of a computerized market maker.
IDEX Innovations
It introduced a novel method to decentralized exchange services by integrating the off-chain trading engine with on-chain transaction settlement, giving users a variety of advantages. For example, the method eliminates terrible deals and the waste of money on petrol fees. It claims to provide users with a convenient trading experience. Because of its fast trade execution, customers can continue trading without waiting for previous trades to settle.
It says that complex order types and trading techniques can implement using this method, as limited orders are available while allowing for arbitrage opportunities with other exchanges.
IDEX was co-founded by brothers Alex and Phil Wearn, who are now the project’s CEO and COO, respectively. The platform’s native cryptocurrency is IDEX, an ERC-20 token on Ethereum.
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