Crypto Token Watch This Week: Vertex Protocol (VRTX)
Vertex Protocol (VRTX), an arbitrage-based decentralized exchange (DEX), is seeing increased volume for space and sustainability.
The price of VRTX has increased 33% in 24 hours, from $0.44 on November 22, and is up 89%.
Total Value Locked (TVL) reached $32 million.
Most altcoins are trading higher year-to-date after marking Bitcoin's 18-month high – an increase of more than $38k.
While the overall market outlook remains bearish, analysts are pointing to continued upside for BTC.
Here's what you need to know about Vertex Protocol (VRTX) next week.
Vertex (VRTX)
Vertex Protocol is a decentralized exchange (DEX) on Arbitrum that offers spot, perpetual and currency markets. Hybrid Order Book Automatic Money Maker DEX has increased volume over the past few days, with its 24-hour trading volume surpassing DEX's all-time high volume DEX.
Another 24h size ATH for @vertex_protocol!
Perp dex beats dYdX by 1 vote. pic.twitter.com/FQdZQfl7OD
— Levitas (@laevitas1) November 26, 2023
Vertex Protocol TVL and price
With users incentivized by the recently launched Arbitrage (ARB) incentive program, trading volumes are likely to continue to grow. ARB Boost Week 2 Over 210,000 ARB tokens were distributed to traders last week.
Claiming the tokens is straightforward, adding an incentive for traders to acquire VRTX through Vertex Protocol's Trade & Earn program. Users are set to earn rewards on business payments, up to a maximum of 75% of received payments. VRTX allows liquid stack owners to hold VRTX to generate voVRTX and earn rewards.
according to DeFillaA total of $32 million was loaded onto the Vertex chain, with $566 million worth of derivatives recorded in the last 24 hours.
VRTX is currently listed on crypto exchanges such as Bybit, Bitget and Gate.io. According to data from CoinGecko, the value of VRTX increased by 34% in the last 24 hours and reached a high of $0.44. VRTX/USD is currently trading at $0.42, up 89% from its November 22 low of $0.22.
