Cryptex Finance: Is CTX A Good Investment?

What Is Cryptex Finance Crypto?

Focusing on building innovative and open-source financial solutions for the global crypto community, Cryptex Finance is an Ethereum-based platform that makes its way into the crypto industry with the idea of linking crypto to the total market cap of cryptocurrency. This idea came to fruition as a token called Total Crypto Market Cap (TCAP), run by a Decentralised Autonomous Organisation (DAO). Apart from this token, Cryptex Finance has its own native token, called CTX, which is the main governance token for Cryptex Finance. It enables people to make and vote on governance proposals and allows them to delegate their votes in return for rewards. CTX is worth around $3.27 and is the #729th largest cryptocurrency by market cap. 

What Problems Does Cryptex Finance Solve?

Undoubtedly, one of the most important statistics to assess the health of the cryptocurrency market is its overall size and the capitalisation of every coin and token. Were it not for the DeFi solutions, we wouldn't have access to real-world data and the option to acquire tokens by depositing collaterals. Cryptex Finance lets large firms, traders, and investors speculate on the total market by building Decentralised Finance (DeFi) solutions using Ethereum's smart contract system.

How Does Cryptex Finance Work?

Cryptex Finance is an Ethereum-based protocol that lets investors, traders, funds, and DeFi users get exposure to the total crypto market capitalisation. Cryptex Finance created a synthetic asset called TCAP, which is a presentation of the entire market and implements Chainlink’s decentralised oracles and five data providers to stay up to the minute on pricing. According to Cryptex Finance whitepaper, TCAP is an ERC-20 compatible smart contract that tokenises real-time Total Market Capitalization from all cryptocurrencies and tokens listed on the world's most reputable crypto data providers. The protocol also provides users with secure returns by offering CTX staking features and minting TCAP tokens.

What Is Cryptex Finance (CTX) Token?

CTX is the main governance token for Cryptex Finance, which enables holders to have vote rights on Cryptex Finance and stake their CTX into a liquidity pool, thus helping keep the crypto’s internal market buoyant.

It should be noted that Crypext Finance is utterly different from CryptEx (CRX), a token working with security on the Binance Smart Chain. Let’s take a detailed look and examine the Cryptex Finance tokenomics.

Cryptex Finance (CTX) Tokenomics

Data from Cryptologi.st indicates that the Cryptex Finance Token (CTX) was launched in 2021 and started trading on Apr 22, 2021, at $9.8. After two months, on Jun 2021, the token touched its lowest price of $2.21. On Sep 13, 2021, the CTX token saw a considerable price increase and spiked, going from an opening of $7.39 to $44.99. Within the last year, Cryptex Finance Token (CTX) price has decreased by 90%. It means if you invested $100 in CTX, you would have only $10 left. However, in recent months, the crypto market has been seeing its worst days ever, and many cryptocurrencies have been down lately. Now, on Oct 17, 2022, each CTX token is being traded at the range of $3.27, which is %41 higher than its lowest level and %93 lower than its peak. Follow me to check out the chart, which indicates the Cryptex Finance market cap rank and price in the recent 12 months.

Disclaimer: Don’t take this article as financial advice. You need to DYOR (Do Your Own Research) before investment.

Cryptex Finance Price Prediction

Although it is nearly impossible to predict the market for a long time, analysing CTX’s past and present performance can help reach a more comprehensive Cryptex Finance price prediction. Following the recent performance of Crypext Finance, it is predicted that the price of each CTX can reach $10.38 by the end of 2022, with a forecast of an average trading price of $18.46 in 2023 and $29.87 in 2024. Crypto experts foresee that Cryptex Finance could reach the average price of $48.33 by December 2025.

Where Can I Buy Cryptex Finance (CTX)?

Several cryptocurrency exchanges out there are available to buy and sell Cryptex Finance, including Huobi Global, Coinbase Exchange, SushiSwap, Bilaxy, and Gemini. Here is your free ticket to learn about cryptocurrency exchanges and their differences.

Is Cryptex Finance (CTX) A Good Investment?

Long story short, Cryptex Finance’s goal is to equip traders with the ability to speculate on the total crypto market rather than a sector or particular project. However, it's a young project, and the lack of any roadmap and a low liquidity score makes it hard for us to consider this token a trustable short-term investment. It's no secret that every investment involves risks, so you should conduct your own research prior to making a financial decision. Here at Cryptologi.st, we provide a free screening tool, detailed analyses on the top 1500 coins and the latest crypto news to make more confident investment decisions.