Against the tide: PundiX, BitTorrent and Filecoin defy the sell-off
While the crypto market sees red, Filecoin (FIL), BitTorrent (BIT) and PundiX (NPXS) can resist the sell-off. A look at possible price drivers.
A red wave has hit the crypto market. In the wake of the weakening The News Spy cryptocurrency Bitcoin, almost all altcoins are posting daily losses, some of them heavy. A look at the 24-hour crypto heat map from Coin360.com reveals correspondingly few green spots.
The exceptions include Filecoin (FIL) PundiX and BitTorrent (BTT), which have successfully defied the bears – at least so far.
PundiX: Blockfolio boost and currency conversion as price drivers?
PundiX (NPXS) dances out of the bearish line-up with a daily gain of 20 per cent and continues its strong development of the last weeks and months. At press time, NPXS is trading at US$0.0078, 131 per cent higher than a week ago.
On 19 March, Pundi X Labs, the company behind the project focused on point-of-sale solutions, announced that the platform currency NPXS will become „PUNDIX“ on 30 March. In the process, the coin will not only receive a new name, but also a redomination: the maximum supply will be cut from 258 billion to 258 million. NPXS holders will be able to exchange their tokens for the new coin at a ratio of 1000:1 from 7:00 am (CET) on 30 March. On 6 April, the staking of PUNDIX on the in-house blockchain f(x) will also be unlocked. The price development since the announcement of the currency changeover on 19 March suggests that investors see this as a bullish signal. In addition, the trading app Blockfolio enabled global trading of NPXS on 24 March.