- The crypto project has its chain dubbed MinePlex blockchain, created on the Tezos architecture with LPoS (Liquid Proof of Stake) consensus.
- With a sense of a multichain future, MinePlex is connected via chain bridge to Ethereum (ETH) networks, Binance Smart Chain (BSC), and Polygon (MATIC).
Mineplex, a blockchain cross-financial platform utilizing liquidity of traditional instruments, has significantly benefited from the recent crypto volatility. As Bitcoin comfortably trades around $21k, Mineplex’s native token PLEX has surged over 14 percent in the last 24 hours to trade at $0.2339 on Monday. According to the company, the recent PLEX rally is largely attributed to the introduction of MINE tokens to increase the former’s liquidity.
According to aggregate data from Binance-backed Coinmarketcap, Mineplex (PLEX) has a market capitalization of approximately $72,757,684 and a reported 24-hour trading volume of about $5,031,909.
Founded in 2020 and headquartered in Singapore, the company has launched 8 real products in the crypto market. Notably, the project has its chain dubbed MinePlex blockchain, created on the Tezos architecture with LPoS (Liquid Proof of Stake) consensus.
The MinePlex blockchain is unique in the sense that it has two native tokens MINE and PLEX. Notably, the MINE token is a basic unit of the computing power of the MinePlex blockchain, necessary for generating new PLEX tokens on the network by placing them in staking. The PLEX tokens, on the other hand, are a utility-based coin that opens access to the services and products of the MinePlex ecosystem.
During the week, the #PLEX exchange rate increased by 180% 🔝This was reflected in the MINE course. What does this mean for users?
🧵a thread:
📌MINE course pic.twitter.com/EXnIJUDPsg
— Mineplex (@mineplexio) January 14, 2023
With a sense of a multichain future, MinePlex is connected via chain bridge to Ethereum (ETH) networks, Binance Smart Chain (BSC), and Polygon (MATIC).
MinePlex and Crypto Market Outlook
The crypto market, led by Bitcoin and Solana ecosystems, has significantly rebounded from the FTX and Alameda’s implosion. Low-cap altcoins have recorded higher volatility as FOMO traders take short-term profits. The MinePlex team has been building products to support its future network growth amid competition from other blockchain projects. Alexander Mamasidikov, CEO & Co-Founder of MinePlex noted.
“Looking at the development of the project, you see how powerful teamwork can be. It is the community that makes the project successful, not its creator or one person,
Collectively, MinePlex has over 200k followers with more than 40k wallets. With 6 MinePlex offices – in Europe, UAE, and South America – the company is eyeing to expand its services to global markets in future. Some of the notable projects by Mineplex include MinePlex Wallet mobile app, MinePlex Payment, and MinePlex.Finance, among others.
With disruptive products in emerging markets, the Mineplex project anticipates growing exponentially in the next crypto bull market. Moreover, some market analysts believe a crypto correction is imminent following a parabolic rise with weak consolidation.
5) Conclusions.
Despite the recent bounce, the bearish scenario hasn't been invalidated. If you have made profits during these days, my sincere congratulations, but remember that it's not a bad time to protect these profits.
— il Capo Of Crypto (@CryptoCapo_) January 14, 2023
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