Through a press release sent out to media outlets, Crypto Price Index announced that it will launch the CPI token on the HotBit crypto exchange with an initial price offering set at $5.
The crypto price index is a project meant to help crypto investors in analyzing different digital assets to get the best for investment. It is promising to be different in ways that ordinary crypto investors can get information regarding a wide range of digital assets at a one time customized click.
On its webpage, the company stated, “Our infrastructure, built and deployed on the tried and tested Ethereum blockchain, will use advanced technical architecture to track a basket of assets for each CPIX token minted.”
However, the company warns that its native coin is not to be used for investment rather for a reward base. “The CPI coin is essentially a governance token, which is used to represent an interest in the health of the CPIX token ecosystem. In this way, the CPI token will be the core unit of the CPI ecosystem, as it’s directly used to access our products and services, and is in no way an investment by itself,” it explicitly explained in a statement.
This will be a plus to the cryptocurrency industry at large especially a time when altcoins have largely dominated the early anticipated bull rally.
“Cryptocurrency has the potential to expand opportunities for wealth generation to those who have previously been disenfranchised from legacy financial systems,” stated CEO Herbert Law.
“However, unstable prices reduce the value of cryptocurrency as a store of value. CPI will bring much-needed stability to crypto markets with its suite of tokens whose value is based on the average of top-trading tokens,” he added
In Q4 of 2019, Crypto Price Index entered into a strategic partnership with prominent Emirati families. “Decentralized finance is one of the most important movements of our time. By providing up-to-date pricing data, Crypto Price Index has the potential to become one of the most valuable sources of information for digital asset traders and market participants,” said Sheikh Abdullah Bin Rashed Al Sharqi, who is an advisor to the CPI board.
It is a big entry of the crypto market into the greater Middle East region and also the Asian part that has the largest population density at a time when a similar bull ran as 2017 looks very imminently close both on fundamental factors and on technical factors.
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