Tag: Idex

Crypto.com Lists New Ethereum-Based Decentralized Exchange Token

by Dailyhodl

Singapore-based crypto exchange giant Crypto.com is listing a low-cap Ethereum-based hybrid liquidity decentralized exchange token.

In a new announcement, Crypto.com is introducing IDEX (IDEX), formerly AuroraDAO, for trading on the company’s app.

IDEX is a multi-blockchain decentralized exchange offering a non-custodial solution for trading digital assets. The IDEX token is used to secure the network and incentivize platform adoption.

According to the Crypto.com press release,

“IDEX is the first Hybrid Liquidity DEX that blends the best of centralized and decentralized exchanges, with the performance and features of a traditional order book and the security and liquidity of an automated market maker (AMM). 

Users benefit from not having to pay additional network costs for placing or canceling orders. Placements are also processed in real-time, enabling advanced trading. 

IDEX is an Ethereum token that powers the IDEX decentralized exchange. IDEX holders can stake tokens in order to help secure the protocol and earn rewards.”

While many new coin listings tend to spark rallies, the price action of IDEX is barely responding to the news.

IDEX is currently trading for $0.20, down 3.73% in the last 24 hours.

The hybrid decentralized exchange is the second new token Crypto.com has listed this year after last week’s addition of Oasis Network (ROSE).

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Coinbase Launches Support for Series of Altcoins Across Full Retail Platform

by Dailyhodl

Top US crypto exchange Coinbase is expanding support for four Ethereum tokens and a pair of other altcoins across its full retail platform.

After a release on Coinbase Pro, IDEX (IDEX) is now available to buy and sell on the company’s main retail trading platform and mobile applications.

The Ethereum token powers the IDEX decentralized exchange which features an order book, automated market maker (AMM) and staking for holders.

IDEX has seen a roller coaster of price action this week, leaping from $0.25 to as high as $0.46 before slowly correcting down to its current valuation of $0.31.

Coinbase is also listing the environmentally-conscious Moss Carbon Credit (MCO2). The Ethereum-based project seeks to fight climate change and protect the Amazon rainforest.

The MCO2 token surged nearly 125% from 9.24 to $20.77 after the initial Coinbase Pro listing but has since cooled off and currently trades for $12.01.

Polkastarter (POLS) is next on the list of new Coinbase additions. It’s a fundraising project built on the Polkadot blockchain. The altcoin ramped up from $2.94 to $4.94 for a total leap of 68% but has settled back to $3.45 at time of writing.

Also joining the Coinbase suite is ShapeShift Fox Token (FOX), the native token of decentralized exchange ShapeShift. FOX is Ethereum-based, and holders have voting rights on the project’s DAO (decentralized autonomous organization).

The Coinbase Pro listing announcement helped spark a rise from $0.77 to a weekly high of $1.04. FOX has since dipped to $0.74, down over 10% on the day.

Next up is Spell Token (SPELL), which governs the Abracadabra.money platform where users deposit interest-bearing cryptos to mint the stablecoin MIM.

SPELL moved from $0.009 to as high as $0.020, sitting at $0.015 at time of writing.

The final altcoin now available across all Coinbase platforms is SuperFarm (SUPER). The Ethereum token powers the non-fungible token (NFT) marketplace SuperFarm, where users can stake their SUPER holdings to earn NFT-redeemable points.

SUPER rose from $1.06 to a weekly high of $1.77, is currently priced at $1.35.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Coinbase Triggers Massive Price Rallies for Seven Altcoins After Launching Sudden Crypto Listing Spree

by Dailyhodl

Seven altcoins are surging after a surprise listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that 5 Ethereum tokens and 2 other altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Circuits of Value (COVAL) skyrocketed from $0.02 to $0.06 almost instantly and peaked at a fraction below $0.09 for a nearly 350% gain. COVAL has settled back in the $0.06 range at time of writing.

COVAL is the Ethereum token behind the Emblem platform which enables users to combine Ethereum (ETH), ERC-20 and NFT tokens to create a transfer token known as a Vault.

Fellow Ethereum token IDEX leaped 84% as news of the listing spread. Its native token IDEX powers the IDEX decentralized exchange which features an order book, automated market maker (AMM) and staking for holders.

IDEX rose from $0.25 to as high as $0.46 and is trading for $0.42 at time of writing.

Also on the rise is the fundraising project Polkastarter (POLS), which is built on the Polkadot blockchain. POLS quickly rallied from a weekly low of $2.94 to $3.79, then blasted off again to $4.94 for a total leap of 68%. The token is cuurrently trading at $4.45.

Environmentally conscious Moss Carbon Credit (MCO2) also saw an impressive rise after the Coinbase listing, vaulting from $9.24 to $16.71, and peaking at $20.77 – a nearly 125% rise.

Moss Carbon Credit seeks to fight climate change by offering carbon credits. Coinbase says,

“Burning one MCO2 token on the Moss Carbon Credit platform is equivalent to offsetting one ton of CO2 footprint, which is made possible by purchasing and protecting land in the Amazon rainforest.”

The altcoin is currently priced at $19.95.

SuperFarm (SUPER) is another Ethereum token getting the green light from Coinbase. It powers the non-fungible token (NFT) marketplace SuperFarm, where users can stake their SUPER holdings to earn NFT-redeemable points.

SUPER saw a near-instantaneous rise from $1.06 to $1.58, working up to a 66% gain and a high of $1.77. It’s currently holding strong at $1.74.

Spell Token (SPELL) governs the Abracadabra.money platform, where users deposit interest-bearing cryptos to mint the stablecoin MIM.

The coin spiked nearly 50%, moving from $0.009 to $0.013, then topping off at $0.017. It sits $0.016 at time of writing.

Lastly, ShapeShift FOX Token (FOX) is the native token of decentralized exchange (DEX) ShapeShift. The Coinbase listing announcement led to an immediate jump from $0.77 to $0.87. FOX worked its way up for a 35% rise to a weekly high of $1.04 before dipping slightly to its current price of $0.97.

Coinbase says that each token will be available to trade paired with USD and USDT.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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IDEX to launch hybrid liquidity decentralized exchange on Polygon

by Cointelegraph

IDEX, a decentralized cryptocurrency exchange (DEX) based in San Francisco, has announced the upcoming launch of its v3 Hybrid Liquidity DEX on Polygon.

The hybrid model will merge traditional order book functionalities with automated market maker (AMM) liquidity pools in a bid to cultivate higher financial returns for the services liquidity providers, as well as provide typical investing tools such as stop-losses, limit orders and real-time execution.

According to the platform, operating on the Polygon network enables lower transaction costs to the value of “10,000-100,000x cheaper” than typically witnessed on Ethereum layer-1, in addition to benefitting from the networks full-stack Ethereum scaling mechanics.

For greater context into the burden of high fee for liquidity providers in decentralized finance (DeFi), a research paper published by Topaz Blue and Bancor Protocol uncovered that almost half of all liquidity providers on Uniswap v3 have been subject to impermanent loss based upon a 43% data snapshot of the platform.

Despite this, the platform ranks first in DEX 24-hour trading volume at $2.8 billion, according to data from CoinGecko, closely followed by PancakeSwap v2 with $2.3 billion.

As for gas prices, many DeFi participants have been encouraged to transition over to Ethereum Virtual Machine-compatible and layer-2 networks in search of cheaper alternatives, a trend that has resulted in a soaring level of market total value locked.

Related: DeFi TVL hits new highs while Metaverse tokens show signs of exhaustion

IDEX CEO Alex Wearn said, “DeFi has been hamstrung by issues like gas prices, front-running, and slippage since its inception, yet few solutions have truly offered answers to these problems,” adding:

“The novel Hybrid Liquidity design protects users from these pain points, while simultaneously generating higher returns for liquidity providers to boost the scalability of the wider decentralized economy.”

Alongside the protocol launch, the exchange is also offering a number of incentives for users that interact with the platform. Liquidity Mining will provide 1,400,000 IDEX tokens per week to enhance liquidity, while a rewards program will acknowledge regular activity.