Providing what investors needed the most, Crypto Price Index (CPI) allows investors and traders to follow price movements of digital tokens just like traditional ones.
Indexing services are a methodological grouping of different financial assets for easy tracking by investors and traders. There are multiple indexing services for traditional finances, such as the famous S&P 500. However, when it comes to tracking the revolutionary crypto markets, traders have always been at a loss. With thousands of tokens in the market, combined with round the clock trading and the relative volatility of the assets, the crypto market has been in a dire need of such a tool.
CPI is a blockchain based platform that aggregates values of the top 200 cryptocurrencies and makes it available to its users. This solution is being hailed as a saviour and large investors have expressed interest in the potential of the project by backing it. One of its co-founder is none other than His Highness, the Sheikh Abdullah Bin Rashed Al Sharqi of the United Arab Emirates. The Arab royalty was quick to understand the role CPI can play in the future and has backed the platform by buying a majority of its shares. The vast wealth at their disposal has given a sense of security to other investors and the public on the stability and longevity of the platform.
As a strategy towards stability to the platform, CPI has only admitted corporate and large investors in its funding round with a condition that the tokens will be locked up for a specific time, ensuring the investors will not be able to exit by a mass sell off. This protects the token value from dwindling, a typical scenario that has proven to be the eventual downfall for many promising projects. CEO of CPI, Herbert Law reflected on the strategy, saying:
“This prevents the big sell offs commonly seen in the crypto market that are a result of poor planning.”
Rocketing Value and Increased Listing
Fueling the CPI platform is its own native token by the same name. The high-profile backing has created a storm of an interest in the platform and its token.
Launched at $5 per token, the response by the public has been record breaking and the token has now grown 23 times, currently trading above $115 since its listing on HotBit crypto exchange. Since the first listing, the project has been eager to get listed on other exchanges to bring the indexing service to the public and is now available on Bilaxy, BitForex and Digifinex.
With the new listings, CPI tokens will get increased liquidity and at the same time allow traders to gain access to the tokens to get connected to the indexing platform through APIs. This will aid them in viewing price movements to help them make better investment decisions.
Head over to the CPI website today to know more about its indexing service.