Stock things

Here is the graphic from 2 November to 4 December. Looking quite good, isn’t it?

As you can see, MNX showed a steady increase during this month. Started with $1.44 price per coin it hits $69.93 price on 03 December with $200 877 600 total Market cap. It means the coin raised in 48 times or 4756.25%. It’s definitely good news for the holders! However, we want to be objective and mention that the impressive growth from 50$ to 69$ had signs of the faux growth made by market traders, so after a hit, we saw the price correlation to the organic 45$-50$ rate. Another extremely important achievement is that MNX broke into the TOP100 world’s cryptocurrencies list according to the CoinMarketCap. It’s ranking between 65 and 72 places at the time of publication of this article.

Now let’s unpack these facts and understand what’s driving them. First of all, it is the support from each member of the community (by the way, thank you for that!). It shows that MNX and the whole MinexPlatform’s idea are essential and interesting for the cryptoworld. Therefore with the popularity, MNX gets new followers and grows in the value. Also, we consider that MNX growth depends on its status among other cryptocurrencies. For example, we stay in “Biggest Gainers list” for three successive weeks.

Another question which was asked in the community several times was “What will be with the price after $20 high and what does the MinexBank do with fluctuations similar to December hits?”. According to MinexBank Memorandum, our algorithm needs three months for a final calibrating and before reaching this point the price will depend on the market like it’s happening now. So if the market would think that the MNX price should be much higher than it claimed in Memorandum, it will raise. Also, it must be said that, accordingly to our White Paper, Minexbank would correlate the price within 5% range from the cost based the previous day’s closure price.

“The 20$ price was the first basic point set in our Memorandum, — says Boris Shulyaev, CEO of MinexSystems. — But if you read this document closely, it mentioned that price can differ highly and will set on the mark which market established itself. However, with the price and volume growth, we’ll see fluctuations reductions”.