IDEX is a decentralized exchange hosted on the Ethereum network and running on the Binance Smart Chain platform as a blockchain-based protocol. The DEX emerged within the sector of decentralized finance, which has experienced increased popularity in recent years. However, unlike popular automated market maker DEXs and liquidity pools, IDEX is based on an order book system.

IDEX is one of the top blockchain protocols and DeFi applications on the Ethereum network, while the increasing number of users speaks to its popularity. The DEX came out with plans to create a multi-chain structure to expand to the Polkadot network as well. IDEX is also the native token of the IDEX protocol.

How is IDEX price determined and what factors can cause the price of IDEX to change?

If you’ve ever wondered this, then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of the intricacies of IDEX price – and the factors that influence it.

IDEX Price History

The price of [guidelink idex] (IDEX) is subject to frequent changes and can experience radical rises or dips due to its high volatility. The market of cryptocurrencies has proven to be more volatile than the stock market, for instance, and other traditional financial markets. That is why the price of IDEX can change quickly and go from new lows to record highs, and vice versa, within a short period.

The IDEX token launched in 2018, with a price of $0.30 recorded in January. After a couple of days, IDEX peaked at a record price of $0.40, which is its all-time high value. After reaching an ATH, IDEX dipped to $0.13 after the end of the first week of February. The price nearly doubled to $0.25 only a week later, and IDEX experienced a positive trend once again. After a high of $0.29, IDEX went through a rather unstable period in terms of trend reversals until it finally dipped to new lows in April 2018 at the price of $0.070. At the beginning of May, IDEX experienced positive momentum, which took the crypto to the price of $0.25. In June, bearish momentum once again took over, and IDEX price dipped to a low of $0.091. In July, the price of IDEX touched the value of $0.13 and $0.15 before declining to as low as $0.049 and then recovering to $0.084 in September. By the end of the year, IDEX was trading at $0.023.

The bearish momentum continued well into 2019, as IDEX kept trading at low prices – about $0.020 in January with occasional dips below that value. IDEX gradually climbed to $0.025 in March, before the highest price that year was recorded in June at the value of $0.077. By the end of the year, IDEX had fallen as low as $0.0092.

As 2020 began, IDEX looked more bullish, climbing to a peak of $0.030 in March. However, IDEX price then touched its all-time low of $0.0056 later that month. After this major dip to a new ATL, IDEX recovered to $0.021 in April, afterward dipping to $0.014 in May. The first serious rebound for some time happened in June 2020, and IDEX price continued to rally for the next couple of months, reaching a peak above $0.17 in August. Prices then crashed in September and continued to fall for the next four months. By the end of the year, IDEX was trading at $0.034.

In January 2021, IDEX climbed to a high of over $0.11 at the end of the month, further rising to $0.20 at the end of March. In the first half of April, IDEX price reached a peak of $0.226. The price declined to $0.057 by June 2021. The price continues to change following trend reversals and the volatility of the cryptocurrency market. 

Analyzing IDEX Price History

IDEX price history can be analyzed with the use of many techniques that are applied in the general analysis of assets from more traditional financial markets, such as the stock market. One of the most common techniques for analyzing the technicalities of an asset when compared with the market and market trends is technical analysis.

TA considers price charts and other relevant market data to be the most reliable sources for creating price predictions in relation to IDEX price and the market value of other cryptos. Technical analysts study past market trends, trend reversals, and other market elements from the technical point of view, while trying to make sense of them. For instance, we can analyze the period when IDEX reached an all-time high price to make a prediction about the situation and the time when IDEX could repeat that movement. 

TA is often used in combination with sentiment and fundamental analysis. Fundamental analysis studies fundamental elements related to IDEX and its technical and market value. This technique considers important elements such as the activity of the dev team, the utility and technology behind the project, the overall profitability and the company behind the project, upgrades, updates, and developments, and other important news and events. For example, the announcement that IDEX is creating a multi-chain structure that should enable compatibility with Polkadot is a positive update that could cause IDEX price to rise.

Sentiment analysis ranks general emotion among market participants and categorizes that emotion as negative, positive, or neutral sentiment. Sentiment can sometimes make a huge difference in the market price of IDEX and other cryptos and is directly related to positive and negative news about the crypto of interest.

Factors Influencing the Price of IDEX (IDEX)

A multitude of specific factors can influence the price of IDEX and cause it to change. The limited total supply is one of the factors that can affect the price of IDEX. The finite total supply acts as an anti-inflation mechanism, increasing the chance of IDEX price appreciation over time.

IDEX price can also be influenced by the wider economy, like in the case of the COVID-19 pandemic when the entire crypto market crashed as lockdowns were announced and gradually recovered thereafter. IDEX was one of the cryptos to record an all-time low around March 2020. Another example of how the wider economy can influence IDEX and other cryptos is the collective positive momentum the market experienced in 2021. IDEX rebounded to highs not seen since 2018 during that period.

The popularity of the DeFi sector can also influence the price of IDEX, as well as the overall popularity and functionality of Binance Smart Chain and Ethereum. The announcement of IDEX expanding to Polkadot is another factor that can affect the price of IDEX in a positive way.

Live IDEX Value and Market Cap

The live price of IDEX varies from one moment to the next due to the volatility and a great variety of other factors influencing the price of IDEX. IDEX can change radically within short periods, while the activity of buying and selling IDEX is expressed through trading volumes. The balance between the buying and selling activity determines the current price of IDEX.

The market cap shows the total IDEX value tokens that are in circulation and is equal to the number of circulating tokens multiplied by the current price of one IDEX token in the market. The market cap ranks IDEX in comparison with its peers and also determines its market share.

IDEX Price FAQ

Will IDEX ever reach the price of $1?

The price of IDEX and other cryptos is subject to frequent changes and can drastically rise or dip within a short period. Although the highest price of IDEX so far is $0.40, IDEX might have a chance to get close to $1 and make a new record in the future given the rising popularity of DEXs.

Conclusion

IDEX is part of the emerging sector of decentralized finance that is already finding capital investors and supporters. As an order book DEX hosted on the Ethereum network, Binance Smart Chain, and soon Polkadot, IDEX continues to expand its services. As such, IDEX is an integral part of the new decentralized economy where exchanging assets can be cost-effective, scalable, and efficient.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of IDEX and cryptocurrencies!