Daily Hot Token — Dopex (DPX)
Higher than expected PCE index sent the jitters to the market, as investors worry about persistent inflation growth. The broader cryptocurrency declined on Friday and rebounded slightly early Monday this week, with Bitcoin and Ether up by 1.50% and 2.67% respectively in the past 24 hours as of the time of writing. The hot token today is DPX, which registered a 24-hour return of 11.11%, outperforming the market due to the recent month’s CES listing. In addition, DPX will be listed on Bybit starting Feb 27, 2023, so stay tuned!
DPX is the native token of Dopex, a decentralized options exchange built on Arbitrum, BNB Chain, Avalanche, and Ethereum. As decentralized perpetual exchanges such as GMX gain traction, decentralized option exchanges are set to take off as investors seek decentralized trading platforms. Dopex set itself apart by Single Staking Option Vaults (SSOV), a model that protects option writers from losses with rDPX rebates and DPX rewards. Despite a promising future for an options DEX, the liquidity on the platform has not seen exponential growth as a perpetual DEX, as evidenced by a meager TVL.
Check Out the Latest Prices, Charts, and Data for DPX/USDT!
Talk of the Town
Web3 music streaming protocol Audius deepens its partnership with TikTok by linking TikTok profiles to the platform. Audius has a long history of TikTok integration, where the music protocol allows streaming music on its platform to upload to TikTok for distribution. The news follows Spotify’s launch of tokenized music playlists, suggesting web2 and web3 integration is becoming more mainstream for the music industry.
Check out what else is buzzing in the crypto scene today:
Sushi plans derivatives exchange on the Sei blockchain in Q2. (Link)
Eclipse to release a Solana-compatible rollup blockchain built for the Polygon network. (Link)
Web3 Music Streaming Platform Audius Integrates TikTok. (Link)
