Ana Sullivan

MinexCoin (MNX) – Is It Bound to Decrease In Price?

by Ana Sullivan May 16, 2018

MinexCoin is a global payments system based on a reputedly low volatility cryptocurrency which is a part of the Minex ecosystem. This system is decentralized and based on Bitcoin’s blockchain technology. The MinexCoin (MNX) has reached a market capitalization of 42.76 Million dollars in the last 1-Day period. The coin traded 4.19% higher against the U.S. dollar during the last 24 hours ending at 09:00 AM EDT on May 16th. Just a few hours afterward and its price began to go downhill with lightning speed.

 

 

 

The MinexCoin team has published a White Paper on their website which reveals in a bigger depth what the MinexCoin project aims to achieve.

 

MinexCoin (MNX) – Today’s Performance

 

The MinexCoin has reached a market capitalization of 42.76 Million dollars in the last 24-hour period. Although, its price spike, it seems that it is now steadily going downhill and might even start trading lower against the dollar. MinexCoin (MNX) saw a rise of 4.19% at 09:00 AM EDT, on May, 16th against the US dollar. You can see the price fluctuations in the chart below:

 

 

The graphical chart was taken from the CoinMarketCap website.

 

MinexCoin (MNX) – Historical Background

 

MinexCoin is a global payments system based on a reputedly low volatility cryptocurrency which is a part of the Minex ecosystem. This system is decentralized and based on Bitcoin’s blockchain technology.

 

The tools available at Minex enable traders to store their money in a safe way, spend them with a couple of clicks, and even to obtain guaranteed revenues by simply aiding the system to keep being stable. Interestingly enough, the Minex ecosystem allows traders to maintain the stability of the system, without reducing their possibility to earn money from exchange rate margin by using “Parking”.

 

Parking is a financial instrument that is effective and unique to Minex. The instrument acts in nearly the same way as it is with depositing money in a bank. People will be required to “park”, or suspend some amount of their coins temporarily. In that time, the coins should be untouched inside the wallet. Thus, the ecosystem will be stable due to having enough coins for a specific period of time. As a reward, users get up to 70% per annum according to the amount of coins they decide to park.

 

MinexCoin aims to become a coin with low volatility, but it seems that its price value against the dollar is unsteady and seeing constant increases and decreases hourly. It has yet to prove its place among the reliable cryptocurrency coins.

Comments 0

Type the characters that you see in the box (5 characters).