IDEX Rallies Over 70% After Activating Layer 3 Capabilities

• IDEX crypto gained over 70% in lower than 48 hours.
• The crypto’s buying and selling quantity has elevated by nearly 600% in in the future to succeed in $310.7M.
• The present worth surge comes after IDEX’s launch of its Layer 3 capabilities.

IDEX, the underlying cryptocurrency of the decentralized trade with an analogous title, gained over 70% previously 48 hours. The crypto asset, which opened at $0.559 yesterday, reached a brand new yearly excessive of $0.1057 in lower than two days.

Knowledge from the TradingView reveals a ballistic worth motion on IDEX that has damaged a number of resistances, with bullish candles of serious momentum. CoinmarketCap information reveals that previously 24 hours, the IDEX buying and selling quantity has elevated by nearly 600% to succeed in $310.7 million, whereas its market capitalization climbed to $63.5 million, reflecting a 52% enhance.

The present worth surge comes after IDEX’s launch of its Layer 3 capabilities. In an replace, the IDEX group introduced it launched the newest model of its product, permitting customers to take complete management of their buying and selling actions with out relinquishing both efficiency or safety. It described the innovation as a synthesis of centralized trade efficiency with decentralized trade custody.

The trade introduced to its group that it might quickly launch its testnet and permit stakers to earn 50% of the charges generated by the platform. It additionally knowledgeable customers of the proposed reignition of DeFi summer season with the upcoming launch, with a collection of actions slated for the remainder of the yr.

On the time of writing, IDEX traded at $0.0980, having dropped barely from the native excessive. Nevertheless, the upward momentum remained intact, with the subsequent resistance at $0.1094 considerably threatened.