Crypto Price Index’s CPI tokens have now appreciated to over 20x their initial list price, having been trading on HotBit for one month, with additional listings on BitForex, Bilaxy, and DigiFinex just announced.
DeFi is a hot topic in the crypto space right now, and cryptocurrencies are finally being recognised for their true potential — As liberators of the classical financial structure. As the number of coins grows, however, so do the complexities in tracking and weighting investment decisions.
Mainstream finance takes advantage of the bells and whistles which come as standard in a mature, developed industry — And traders and enthusiasts alike are making money with greater certainty, safety, and analysis as a result. Tools like the S&P500, and the DJIA are what the crypto industry has been calling for.
Now, with CPI (Crypto Price Index) tokens, crypto enthusiasts can do just that. CPI offers users the ability to create a basket of the top 200 cryptos and track price movements. And what is immediately obvious, is that the market has taken well to CPI being released. After CPI’s recent announcement that trading on HotBit exchange would imminently commence, the price has risen a staggering 2,300%. And for a token which started at $5, that means the price is now over $115 for just one CPI.
To aid liquidity and accelerate CPI’s adoption as one of Crypto’s hottest upcoming DeFi projects, CPI is now available on Bilaxy and Hotbit with listings coming up on BitForex and Digifinex on August 18th. With the price already approaching $120, the effect of increased accessibility and opportunity for arbitrage will only accelerate interest in CPI and drive price increase further.
Increased Emirati Support
After news in 2019 of UAE royal acquisition of shares in CPI, it has now been announced that Sheikh Abdullah Bin Rashed Al Sharqi has taken the role of co-founder of the project. The business acumen and wealth of Sheikh Al Sharqi will be a strong asset for Crypto Price Index in 2020 and beyond.
Early Round Funding
The founders of CPI decided to avoid funding the project via crypto-traditional methods like ICO or IEO campaigns, choosing instead to secure early investment from wealthy business associates and accredited investors. Early contributors agreed to lock up their tokens for a set period of time so the project doesn’t have the typical heavy sell pressure seen by most crypto projects upon exchange listing. This, combined with increased retail demand for CPI tokens, has helped CPI quickly become one of the fastest-growing tokens in the marketplace.
“My thought is since we restricted previous token sales it will allow a smooth transition to trading in the secondary markets” said Herbert Law, CEO of CPI.
“This prevents the big sell-offs commonly seen in the crypto market that are a result of poor planning,” he added.
The price increases beg the question — With the DeFi wave powering through crypto, and CPI already showing its’ potential to do for Crypto what the S&P500 has done for traditional finance, where will CPI stop?
Visit the CPI website to find out more information and see which exchanges CPI is trading on: https://www.cpiindex.io/
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Contact Name: Herbert Law
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