A mobile banking altcoin project has skyrocketed over the past seven days as part of a new token strategy rollout and ahead of an upcoming update.
MinePlex (PLEX) peaked at $0.309 this week, from a low of $0.109 on January 8, marking gains of more than 183% in just seven days.
The 267th-ranked crypto asset by market cap is up more than 18% in the past 24 hours alone.
The MinePlex blockchain is a mobile crypto bank using two native tokens. PLEX is the payment and asset token, while MINE is the fixed-value token of the system. MinePlex awards users rewards in PLEX tokens, which can be converted to USDT or MINE on the app for staking.
MinePlex said the company’s new strategy drove up the price of PLEX.
“We have launched a new economic model of MINE and PLEX tokens, which allows us to increase the demand and reduce the supply of PLEX. This is reflected in the price of the tokens.
The mood of MinePlex users is also fueled by the upcoming halving, when PLEX emissions will be cut in half.
Over the next four months, the updated MinePlex.Finance will be released – your mobile bank account for euros, dollars and PLEX.
Despite price increases this week, PLEX still remains down more than 87% from its all-time high of $2.45, which it reached in November 2021.
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