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Why Is MinePlex Price Up More Than 49% Today?

 


MinePlex price has been rising since April 6th and its uptrend seems to be gaining momentum every day.


At the time of writing, PLEX is trading at $1.91 and is up 49.95% in the past 24 hours. The value had hit a daily high of $2.0 and a daily low of $1.18.


Currently, the trading volume is $15.6 million, which is slightly higher than the April 6 trading volume of $15.09 million.


In this article, we will focus on the factors driving up the price of PLEX.


Why is the MinePlex price increasing?

Before we get into the reasoning behind the price increase, let's first explain what MinePlex is for those who come across the term for the first time.


In short, MinePlex is a mobile crypto bank that allows users to use fiat or cryptocurrencies for transfers, payments, and banking. It has two native tokens namely PLEX and MINE.


The PLEX token acts as a payment instrument and an asset within the ecosystem and has a mathematical algorithm that allows for a predictable price increase. The MINE token, on the other hand, is a non-volatile token with a fixed value and gives access to the system's services.


MinePlex has four main components in its ecosystem: an online store MinePlex.Marketplace, a payment system Mineplex.Money, a new digital banking app Mineplex.Finance, and a business development platform MinePlex.Payment.


Now to the reason behind the uptrend in PLEX price.


Launch of the new digital banking app MinePlex.Finance

One of the main factors that has led to the current price surge is the recent launch of a new digital banking app, MinePlex, which has sent the coin price skyrocketing.


According to a press release, the new app will bridge major fiat currencies with PLEX tokens:


“MinePlex.Finance is independent of the MinePlex platform, but requires the use of the project's own PLEX tokens in order to be able to use it. It is an advanced solution that can be used as a digital account, payment app or mobile wallet for PLEX tokens and main fiat.”

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