How long will IDEX crypto’s bullish run last?

February 03, 2022 10:26 PM AEDT | By Manu Shankar

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How long will IDEX crypto’s bullish run last? — Image source: © VitMar | Megapixl

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Highlights

As a hybrid liquidity decentralised exchange, IDEX crypto offers staking rewards to its users and combines order book model with AMM.

Founded by Alex Wearn and Phil Wearn, IDEX’s AMMs helps in removing middlemen while trading.

At the time of drafting, it was trading at US$0.296415 with a 24-hour trading volume of US$878,856,022.

IDEX crypto’s bullish run continues for the second day as it was up by over 80% on 3 February. IDEX has been attracting significant investor interest as well and also witnessed a significant volume gain of well over 700%.

The IDEX crypto’s rally is at the back of the announcement of its listing Synapse Protocol's token against the Ethereum trading pair. IDEX has been rallying for more than a month and has registered gains of well over 14.7% in the 30-day period and over 152% in the past week.

This is significant considering that the market largely has been reeling under bearish sentiments. Its hike has, in fact, caught the eye of several investors who want to include it in their portfolio.

What makes IDEX unique?

As a hybrid liquidity decentralised exchange, IDEX crypto offers staking rewards to its users and combines the order book model with AMM. Founded by Alex Wearn and Phil Wearn, IDEX’s AMMs help in removing middlemen while trading. With a combination of centralised and decentralised exchanges, it is able to give the users to give the best of both worlds and avoid failed transactions.

IDEX ensures that transactions are only finalised when its on-chain settlement executes the trade. By giving power to users, it ensures that they can use the funds the way they want to. By using smart contract to execute off-chain trades, it ensures ownership and authorization.

Also read: 4 Biggest Crypto Pyramid Schemes that have rocked the market

How has IDEX price is faring?

IDEX is governed by its namesake IDEX token and is ranked 259 on CoinMarketCap as per market cap. At the time of drafting, it was trading at US $0.296415 with a 24-hour trading volume of US$878,856,022. IDEX crypto was well over 83.54% in the past 24 hours with a live market cap of US$186,347,117 and 635,454,977 IDEX coins in circulation.

The trading volume of IDEX has hit the peak of 748.87% and that has brought in a large number of investors.

Investors would be buoyed by the bullish run that the token is enjoying at the moment. IDEX’s RSI is at 74.81 indicating that the token has suddenly received interest in the January-end, and hopefully it would continue for a while.

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