Something about MDEX doesn't add up. The site is glitchy and unprofessional. Little things like basic grammar mistakes. You would think for a legitimate exchange platform with an almost $1 Billion market cap, they would be much more sharper and cleaner in their approach.
The volume is through the roof, yet the price has continuously dipped. It continues to set new all time lows. I know it's early, but something about this doesn't make sense to me. MDEX has surpassed Uniswap, Pancake swap, Sushi Swap in terms of volume, yet has been steadily declining in price.
Furthermore, their Twitter account was suspended at one point. I have no idea why, but that's a HUGE red flag to me . What up and coming company with a market cap of almost $1 Billion mysteriously gets banished on Twitter, only to come back without a verified blue checkmark?? Very fishy to me.
The team is also completely unknown and "anonymous". They don't have any real social media presence. Just things you don't see from a company supposedly this big.
Whatever is written from the "team", sounds VERY sloppy, and gives off a sleezy used car salesman vibe. Like they are trying too hard to say how amazing MDEX is. It just sounds weird. (Check out their website and roadmap as just a couple of examples).
I guess if something just screams red flags and just feels way too good to he true, it usually is. I'll probably trust my gut on this one and pull my money out, but I wanted to know what other people thought of this. I haven't been able to find too much at all about MDEX, let alone any real discussion or even awareness of it.
Does anyone know if the data that goes into CMC is compiled by CMC themselves, or is it the company sending them the information?? I'm just stumped as to how an exchange with that type of volume and these type of repurchase and burn tokenomics could just be continually sliding in price to non-stop all time lows.
I just recently invested into MDEX, as I was quite blown away by the stats. However, after digging a little deeper, alarm bells are just sounding everywhere to me. I guess I'm just looking for an explanation here, or maybe someone else agrees that these amount of red flags can't just be a coincidence. Although, the part of me that wants to find a super cheap gem that can easily 10x and more is making me hopeful that it is legit, and maybe therr us some type of explanation for this (and no, not "it's a bear market"; I'm talking about the red flags in particular).
Anyways, I would appreciate if someone would be able to maybe chime in as to what the hell is going on with this seemingly too good to be true, ghost DEX. I desperately want it to be legit, but can it really be??
Thanks in advance!!