- Vertex Protocol (VRTX), the decentralized exchange (DEX on Arbitrum), is experiencing rising volumes in both spot trading and perpetuals.
- VRTX surged 33% in 24 hours, reaching $0.44, and is up 89% from $0.22 on November 22.
- Total value locked (TVL) has climbed to $32 million.
Most altcoins are trading near their year-to-date highs after following Bitcoin’s advance to an 18‑month peak, which pushed BTC above $38,000. With the broader market sentiment remaining bullish, analysts are highlighting the potential for further upward momentum in Bitcoin.
Below is what to know about Vertex Protocol (VRTX) heading into next week.
Vertex (VRTX)
Vertex Protocol is a decentralized exchange on Arbitrum offering spot markets, perpetuals, and money markets. Combining an order book with automated market-making features, the hybrid DEX has seen a surge in activity over the past few days. Its 24‑hour trading volume recently outpaced dYdX, making Vertex the top volume DEX for perpetuals during that period.
Another 24h volume ATH for @vertex_protocol!
It surpassed dYdX for the No. 1 perp dex in volume. https://t.co/QqGiOSkacW pic.twitter.com/FQdZQfl7OD
— Laevitas (@laevitas1) November 26, 2023
Vertex Protocol TVL and price
Vertex’s recent growth is supported in part by an Arbitrum (ARB) incentives program that began distributing rewards to users. The second week of ARB incentives distributed over 210,000 ARB tokens to traders, and the token claim is currently live. Those incentives amplify Vertex’s Trade & Earn program, which lets traders earn VRTX rewards and reclaim up to 75% of taker fees, increasing the appeal for active users.
Additional utility comes from VRTX liquid staking, which allows holders to stake VRTX to mint voVRTX and continue earning rewards while maintaining liquidity exposure.
According to DeFiLlama, $32 million is currently staked on the Vertex protocol, while derivatives volume reached $566 million in the past 24 hours. VRTX is listed on major exchanges including Bybit, Bitget, and Gate.io. CoinGecko data show VRTX rose about 34% over the last 24 hours to a high of $0.44; trading at approximately $0.42, the token is up roughly 89% from the $0.22 low observed on November 22.