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The Emirati-backed Crypto Price Index (CPI) is breaking grounds as it soars to new heights with a 23 times increase in its value in a month.
The token brings in a Decentralized Finance (DeFi) to the masses and the serious investors alike, bringing the same facilities of traditional finance into the 4th Industrial Revolution by providing an indexing service of the most popular crypto assets in the world.
In the current financial systems, there are firms and analysts who evaluate, predict and list the movements of different instruments, stocks and commodities to help players of the market make decisions on not only protecting their investments, but generating profits. For a still-emerging financial sector like cryptocurrencies and assets, there wasn’t a reliable alternative until CPI.
With thousands of tokens, it is becoming more and more difficult for investors and traders to keep track of their investments. CPI creates an index on the blockchain which traders can access through APIs and keep themselves updated on the latest developments in the market. CPI works by collecting information on the top 200 cryptocurrencies and translating it into an index. This means that crypto traders and investors can use CPI to timely react to changes in the market. Using advanced data sciences and computer algorithms to monitor fluctuations in an already highly volatile industry.
Value, Backing and Listing
The value that CPI brings to its users has not gone unnoticed. Back in 2019, the project caught the eye of UAE royalty and they invested heavily in it from the start, becoming the majority shareholder. His Highness Sheikh Abdullah Bin Rashed Al Sharqi is also the co-founder of CPI. The index itself holds a lot of promise and its potential is realized by many. Rather than kick off like many other crypto projects that opened up for the masses to invest in it, CPI went for institutional and large investors.
Furthermore, to avoid a large sell-off typically seen soon after a newly-launched token is listed on an exchange in order to make instant profits (leading to a spiraling downfall of the token value eventually), the investors agreed not to sell their tokens, thereby stabilizing its value. The token has seen an incredible demand and in a space of a month has risen in value from an initial $5 to $115, representing a 2,300% jump and with such an elite backing, the value is surely not short-lived.
CPI token is currently listed on the HotBit and Bilaxy crypto exchanges. To make the token more accessible and easing liquidity, the token has also been launched on BitForex and Digifinex since August 18th, 2020. The new listing will give a further boost to the indexing token and its platform, providing more value to the fastest growing crypto token in the market.