IDEX price prediction: What’s next for the exchange token?

• Updated

IDEX aims to provide investors with the best of centralised and decentralised exchanges

The IDEX logo on a white background                                 
Some 50% of the exchange’s trading fees go to those staking its IDEX token – Photo: Shutterstock
                                

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There is much debate in the crypto world regarding the relative merits of centralised and decentralised exchanges. The former usually have more liquidity and better security, but decentralised platforms can give individual users more control over their funds.

Idex aims to merge the two concepts, to create an exchange that has all of these benefits. With deep liquidity, lower fees and safer transactions, IDEX is hoping to provide the perfect exchange.

It sounds ideal, and yet the IDEX token that supports this vision is struggling. Does the IDEX price prediction think another surge is possible?

What is IDEX (IDEX)?

IDEX hopes to give its users the best of both worlds, by combining features of centralised and decentralised exchanges. This combination enables users to trade against zero spread with deep liquidity and lower fees.

The secret behind IDEX’s exchange is the application of two methods: Automated market makers and order books. Automated market makers incentivise users to provide liquidity by giving them a share of the fees. Meanwhile, order books are a more centralised technique that keeps track of buy and sell orders for any type of security.

The exchange was founded by the brothers Alex and Phil Wearn. Alex Wearn previously worked for Amazon, IBM and Adobe, while Phil has qualifications in aerospace, aeronautical and astronautical engineering, as well as entrepreneurial experience.

The brothers’ vision of the perfect exchange is powered by the IDEX token. Those who stake IDEX support its infrastructure and the robustness of the platform. In return, they are rewarded with 50% of the trade fees.

From the IDEX whitepaper

IDEX believes that merging these two methods, automated market makers and order books, has enabled it to eliminate failed trades and the subsequent wasted gas fees. Its whitepaper says: “IDEX allows traders to get the best spreads, avoid failed transactions and easily provide liquidity, all with the power of real limit and stop-loss orders.”

The document also states: “IDEX utilises an off-chain trading engine for trade execution bringing: First, extreme performance, processing tens of thousands of orders per second with millisecond latency; and secondly, the guaranteed sequencing and executing orders in the precise order that they are received by the server.”

IDEX’s past performance

IDEX went live in May 2019 at around the $0.03 mark, but dropped to $0.01 by the end of that year.

The exchange’s token saw its first substantial rally in August 2020, after the announcement of a new update to the platform, titled IDEX 2.0 API. The test or “sandbox” version went live early that month, giving its users more advanced features such as stop-loss. IDEX surpassed the $0.10 barrier and hit $0.12 on 31 August 2020.

It corrected back down to $0.05 in September, then saw a slight spike on 10 October as it announced the 2.0 update was going live on its mainnet that month. But by 8 December 2020, it had stooped to $0.02.

Like the wider crypto market, IDEX rallied at the beginning of 2021. It hit $0.07 on 2 February 2021, a day after its platform went live on the Binance Smart Chain. To celebrate, IDEX ran a promotional event on the blockchain where users would get a bonus for their first trade.

The staking token continued climbing into the following month. On 9 March 2021, it released a BEP-20 version of its token. By the end of the month, IDEX broke its previous price record and hit $0.18.

IDEX saw its biggest rally on 8 September 2021 when it skyrocketed to its all-time high of $0.97. This followed the token going live on the Polygon Network, along with the lead-up to the third update of its exchange. While the price crashed in mid-September, IDEX spiked again to reach $0.41 on 1 December 2021, the day the update went live.

The exchange saw its token gradually fall over the coming months, stooping back to around the $0.10 mark in January 2022. It then surged slightly to $0.26 on 2 February, as it unveiled a 0% fee promotion on its exchange.

In early May, the following was announced on Twitter:

However, the bear market and multiple market crashes have held the price of native token IDEX in a chokehold. The token closed the month of June at $0.07 and closed on 31 July at $0.08. 

At the time of writing on 16 August, the token is currently worth $0.08, having largely traded sideways over the past few weeks. The crypto has a market cap of around $55m, and is the 390th largest crypto by that metric.

Some speculators are suggesting the market has bottomed out, an encouraging prospect for investors willing to buy the dip. Others are more sceptical, warning of a potential crypto ‘Ice Age’. Ultimately, the fate of the token will rely on more users buying into IDEX’s vision and staking its token, and improving market conditions. 

IDEX price prediction

Most forecasts are fairly bullish over IDEX and suggest the price will increase.

WalletInvestor’s IDEX crypto price prediction is that in a year’s time the token will be worth less than $0.008, and does not expect the token to recover, suggesting it is a “bad long-term (one-year) investment”.

PricePrediction is more optimistic about the potential for IDEX. While its IDEX price prediction for 2022 expects an average price of $0.087 in September and $0.093 in December, the site believes it will be worth an average of $0.14 in 2023. The IDEX price prediction for 2025 is $0.28, and $1.71 in 2030.

Gov Capital’s IDEX coin price prediction thinks the token can reach $0.30 in 12 months and $1.75 in five years’ time. 

Meanwhile, DigitalCoinPrice is more reserved in its prediction for the long term, but still bullish in the short term. The site forecasts an average price of $0.11 in September 2022 and $0.12 in December. The site forecasts a yearly average of $0.12 in 2023, $0.13 in 2024 and $0.16 in 2025. Its IDEX price prediction for 2030 is $0.38.

IDEX has demonstrated in the past that its token is capable of reeling in huge demand, and most predictions expect it do so again. However, only Gov Capital and PricePrediction forecast a new all-time high within the next decade. IDEX has been stuck in a bearish rut since September 2021 and is currently down 91% from its all-time high of $0.937763.

The staking token will need substantial momentum from investors before it will see that high price surge again.

FAQs

How many IDEX are there?

According to CoinMarketCap, there is a circulating supply of 673,086,713.47 IDEX, and a total supply of 1,000,000,000 IDEX.

Is IDEX a good investment?

It might be. Those who stake IDEX are rewarded with 50% of the trading fees. However, the staking token is currently down over 91% from the all-time high it reached in September 2021.

Crypto tokens can be volatile, so you should be sure never to invest more than you can afford to lose.

Will IDEX go up?

IDEX price predictions expect the staking token to increase in the coming years. Only Gov Capital and PricePrediction forecast that the token will exceed the previous all-time high within the decade. 

Predictions are often wrong, however, so investors should always conduct their own thorough research.

Should I invest in IDEX?

It depends. The IDEX exchange aims to offer users the best of centralised and decentralised exchanges, and its staking token supports the foundations of this exchange. Yet investors seem to be shying away from the token, as it has fallen over the past few months.

Remember, always conduct thorough due diligence before investing any funds into cryptocurrencies.

Further reading

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