FXDX achieved the milestone of more than USD 200 million in trading volumes this week. While the average monthly trading volume is well above USD 100 mln now, FXDX appears to be on track for more than USD 1 bln in trading volume in its first year. Currently it has reached a global marketshare in the total DEX trading market of 0,2%. Now the challenge is to grow this to 1%, 5%, 10% or even more.
On the Algorand platform (which currently ranks number 16 in the rank of blockchain platforms with the highest TVL = Total Value Locked), FXDX already is the biggest trading venue. The FXDX team is currently working on an EVM-based version of its trading platform which should be launched shortly. This will be the first step in a multi-chain version of the platform. This will allow FXDX to quickly roll-out the platform across multiple EVM-compatible blockchains (EVM = Ethereum Virtual Machine).
Last month FXDX Algorand platform also introduced trading on goBTC (Bitcoin), goETH (Ethereum) and xSOL (Solana) so Algorand traders can now also trade Long and Short positions with leverage on these liquid coins.