MinePlex’s price has risen by over 49 percent today. The reason for the rise is not yet clear, but it could be due to increased demand for the token or PLEX itself.
Since April 6, the price of Mineplex has been climbing, and its upwards trend appears to be gaining strength daily.
PLEX was trading at $1.91 as of this writing, up 49.95 percent in the previous 24 hours. It has achieved a daily high of $2.0 and a daily low of $1.18.
Its trading volume as of today stands at $15.6 million, which is somewhat greater than the $15.09 million it had on April 6 this year.
What is MinePlex?
Let’s start with a brief explanation of what MinePlex is for anyone unfamiliar with the term. For those who are unfamiliar with the term, let me explain briefly what it means.
MinePlex is a mobile crypto bank that permits you to do transfers, payments, and banking transactions using fiat or digital currencies. It offers two native tokens: PLEX and MINE.
The PLEX token is a cryptocurrency that serves as both a payment instrument and an asset in the ecosystem, with a mathematical formula ensuring price stability. The MINE token, on the other hand, is a non-volatile coin with a set value that grants users access to the system’s services.
The MinePlex ecosystem consists of four major components: an online store, Mine Plex.Marketplace.
A payment system, and a new digital banking app called Mineplex.Finance.
It also include a business solution platform called MinePlex.Payment.
Having done a proper introduction of the outfit, we can now delve into the reasons behind its rising price.
Why is MinePlex rising?
The recent release of new digital banking software, MinePlex, which caused the price to skyrocket is one of the main reasons for the current increase in value.
MinePlex.Finance allows Mineplex coin holders to do their banking entirely on the blockchain, which is a big step forward for the company.
The MinePlex team has also been working hard to get listed on more exchanges and increase its liquidity.
As a result, MinePlex is now available on five different exchanges including Bittrex, Upbit, and IDEX.
Mineplex’s tokenomics are also very attractive.
With a total supply of only 100 million PLEX and a circulating supply of just over 60 million.
The new mobile app will link PLEX tokens with major paper money, according to a news release.
“The Mineplex.Finance plugin is not connected with the MinePlex platform, although it requires use of the project’s PLEX tokens to function.
“IT is a modern answer that is utilized as a digital account, a payment application, or a mobile purse for PLEX tokens and the established fiat currency.”
The MinePlex.Finance app is currently available in English, Russian, and Chinese. However, the team plans to add more languages shortly.
Mineplex’s price has surged today by over 49 percent, reaching a new all-time high of $0.04 per token.
With the Mineplex.Finance app, users will be able to use PLEX tokens to pay for goods and services online and offline.
All of these factors combined have resulted in a perfect storm that has seen MinePlex’s price rise by over 49% in the past 24 hours.
This simply means that now is the time for MinePlex current investors to increase their holdings.
And of course, new investors waiting in the wings should launch out.
MinePlex’s price increase today could be due to increased demand for either the token or PLEX itself, or both.
We will continue to monitor the situation and update this article as more information becomes available.