IDEX Token Surges 31% After Xchain Layer 2 Launch on Polygon, Margin Update Fuels Momentum

IDEXUSDT experienced a significant 24-hour price increase of 31.48%, rising from 0.01960 to 0.02577 USDT. This surge is primarily attributed to heightened trading activity following the launch of IDEX's 'Xchain' Layer 2 network on Polygon, which has generated positive sentiment and increased market participation. Additionally, anticipation surrounding the upcoming margin update scheduled for July 25 may have contributed to the recent bullish momentum. Technical analysis indicates a bullish reversal pattern, supported by increased trading volume and a breakout above key resistance levels, although some indicators suggest potential for short-term correction due to volatility.

Currently, IDEXUSDT is trading at 0.02577 USDT with a 24-hour trading volume ranging from $4.89 million to $51.93 million, a market capitalization between $18.05 million and $23.61 million, and a circulating supply of approximately 959.59 million tokens out of a total supply of 1 billion.