Pundi X Price Booms After Qtum Partnership
As the markets turned to the red, Pundi X managed to keep the gains, marking a 10-fold increase in the past month.
Pundi X (NPXS) is marking a gradual price appreciation after the ICO and trading launch. Starting from sub-penny prices, NPXS already rose nearly 10-fold since the launch of trading. Due to the low price, the asset continues to appreciate, adding another 27% in the past day to $0.0064, with robust gains against Bitcoin.
One of the reasons behind the rise is the recently announced partnership with QTUM.
The Pundi X project aims to popularize crypto coins by building a network of point-of-sale terminals, starting with the Asian region, where crypto coin usage is already ahead of the curve. In the long run, the project has the ambitions of spreading its payment technology to popularize crypto coins among 100 million users - an ambitious aim, given that even for popular crypto projects, the followers are usually in the thousands, or tens of thousands.
But in terms of market price, NPXS remains a speculative asset and price performance depends on investor confidence and volumes. The biggest problem around the promising coin is the lack of listing on larger, liquid exchanges. At the moment, the asset relies on Coinrail, Coinnest, and partially Bancor Network, but there is a drive to get a listing on OKEx.
For a coin with a supply of above 60 billion, a price of a few cents is certainly a possibility. At the moment, only limited access and relatively low popularity keep Pundi X in the lower price range after the ICO. But volatility may be expected in the price discovery period.
The Pundi X team also plans limited buybacks of 200 ETH for its asset, but given the large supply, this may not affect the price that much.
With the recent price moves, however, Pundi X becomes one of the recent ICO projects to watch, especially for news of listing on a larger exchange.