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Shortly After Binance Listing, MDEX ($MDX) Broke into CoinMarketCap Top 100

On May 24, the cryptocurrency $MDX was listed on the cryptocurrency exchange Binance and began trading at approximately USD 1.60. The coin is now trading at approximately USD 1.89, has a live market capitalization of USD 780 million, and has a 24-hour trading volume of USD 87 million.

An enormous uproar, enough to propel the MDX token ($MDX) into the top 100 of Coinmarketcap’s rankings for the first time. As is customary for MDEX, the company achieves significant gains in a short period of time.

When the exchange titans get together, great things happen. Binance is the world’s largest cryptocurrency CEX (centralised exchange). It was established in 2017 and has the greatest trading volume of all the cryptocurrency exchanges.

A HECO-based DEX (decentralised exchange) that evolved into a multichain – with the first stage being its integration with BSC (Binance Smart Chain) on April 8 – MDEX was a decentralised exchange that evolved into a multichain. MDEX recorded a TVL (Total Value Locked) of more than USD 1.5 billion in less than 2 hours of trading.

The $MDX token launch would be the second time in as many years that the two titans in their respective industries have worked together. Certainly, Binance’s choice to list the $MDX token on its platform was influenced by MDEX’s past good performance with the integration of its BSC system.

Will $MDX Replicate its Successful DEX Performance?

The $MDX may be traded in the following currency pairs: MDX/USDT, MDX/BTC, MDX/BNB, and MDX/BUSD at the time of writing.

What percentage of $MDX’s DEX performance will be replicated?
MDEX stunned the whole DEX industry by capturing an incredible amount of market share in less than a month after making yield farming options available on its platform. It outperformed industry heavyweights like as Uniswap and Sushiswap, demonstrating the widespread acceptance of its dual mining technique among DeFi (decentralised finance) participants.

Since then, MDEX has stated its intention to develop into a comprehensive cross-chain decentralised exchange environment.

At the moment, traders on Binance are keeping a careful eye on the $MDX cryptocurrency. According to the Coinmarketcap profile for $MDX, the cryptocurrency is on more than 90,000 watch lists.

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Evangeline Christina is a Cyber Security Enthusiast, Security Blogger, Technical Editor, Certified Ethical Hacker, Author at Cyberspecial.net. Previously, he worked as a security news reporter in a reputed news agency.