There has been tremendous market uncertainty in 2020. Many new projects are being scrapped without any future launch dates across many industries around the world. However, the same is not true for the crypto market as a lot of new crypto tokens have been launched this year with many others still in the pipeline for launch this year. In fact, over 2,250 crypto coins and counting are being minted daily.
A Long-Awaited Solution for a Major Issue Faced by the Crypto Investors
The cryptocurrency market started seeing astounding growth in 2017 and since then, the number of cryptocurrencies has risen dramatically. This has made it tremendously difficult to keep up with new crypto projects and thus, it has impacted the ability of investors to decide which of these tokens are worthy to invest in. On the other hand, investor sentiment in the crypto space is still maintaining momentum, regardless of the enormous challenges that 2020 has brought.
Crypto Price Index (CPI) is an innovative platform that will offer an option to track the future path of any number of cryptocurrencies through a basket of assets monitored by the CPI index token. It will help both experienced and new crypto traders alike to access and assess the ever-evolving opportunities in the crypto-trading space. The platform will soon be launched after the initial listing of their index coins like CPI10, CPI30, CPI100 tracking 10, 30 and 100 crypto assets respectively. They also have plans for CPI200 and CPI500 if the market conditions are right.
Dow Jones’ Crypto Equivalent Index
The Crypto Price Index will replicate the success of the Dow Jones industrial average, which was launched on May 26th, 1896. During its heyday, it tracked 12 major companies from each of the sectors of the US stock market. Today, it has grown further and now consists of 30 companies.
A powerful algorithm will aid the CPI 30 index for delivering a single index price for the top 30 crypto assets and also offer a prediction of the future rates. CPI is aiming to solve the problem of price fluctuations among cryptocurrencies by leveraging blockchain technology. It is also capable of tracking even the ups and downs in the prices of the transactions that occur at a faster rate. There are plans to launch a CPI mobile app, which will offer the functionality of both a full payment system and social media apps.
Partnership Between HotBit Exchange & Crypto Price Index
Like its peer decentralized finance projects, CPI places the steering wheel of the governance in the hands of its token holders. The CPI token holders will be given voting powers over inclusion of tokens and they can then decide on which assets should be added to the index.
Crypto Price Index has partnered with HotBit Exchange for the release of CPI tokens to the public, the first of its kind. They have priced each token at $5 and the sale will continue from July 15 to July 31, 2020.
Royal Backing
The CPI project got a direct backing from a royal Emirati family in 2019. The support from very highly connected people like them is a stamp of proof that the Crypto Price Index project has a very high potential for success. This valuable partnership will also help the CPI team in terms of valuable financial advice and offer unparalleled support in terms of access to high-level business connections. The royal family believes in the vision of the Crypto Price Index and they agree that the crypto industry is in the need of an index that can gauge the market sentiment of the whole crypto industry.
Interested in learning more about the project? Go check them out here: CPI project or at HotBit.ai.
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