Bitcoin-Based Decentralized Exchange Token Surged By 158% in Seven Days

It’s been just revealed that the Bitcoin-based decentralized exchange token managed to surge by 158% in seven days. Here’s more about the price of Bitcoin below.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $26,858.

A Bitcoin (BTC)-based decentralized exchange platform (DEX) is skyrocketing despite turbulence within the crypto markets.

“New data reveals that AlexGo (ALEX), a decentralized trading platform for BRC-20 tokens that is set to launch next week, surged from its seven-day low of $0.0595 on May 6th to a new all-time high of $0.154 just six days later, a 158% increase,” the online publication the Daily Hodl notes.

The 287th-ranked crypto asset by volume has since retraced and is trading for $0.146 at time of writing.

“AlexGo, which made its market debut last September, recently reached out to other crypto assets built on the crypto king to fill out a token listing form so they can be a part of the crypto exchange,” the same notes reveal.

According to the DEX’s official Twitter page, token trading is slated to roll out sometime next week, but no specific date was given.

In other news, the central banks around the world are now looking for ways to get around the US dollar’s world reserve status. This is according to former Morgan Stanley executive and investment veteran Ruchir Sharma.

In an interview with France 24, a French government-sponsored outlet, Sharma says America’s biggest economic rivals have been working out ways to transact with each other without using the dollar.

“Nations are increasingly speaking with each other on how not to use the US dollar as a medium for transactions.”

He continued and said the following:

“You have Saudi Arabia and China talking, they trade in oil. [They’re determining] how to do it in a way where the US dollar is not used and they can settle their payments in each other’s currency. You have India talking in a similar way with the UAE, which is that how do you cut the dollar out as a denominator.”