There is never a boring day in the world of cryptocurrency. Anything and everything can happen when people least expect it. In the case of the TenX price, it seems very unusual market shifts are taking place. Whereas some people thought the project would be done for, it seems the market has a completely different opinion regarding this development.
TenX Price Surge Continues
The end of 2018 and beginning of 2019 could have been very catastrophic for the TenX project. Although this company is in the process of issuing crypto debit cards to ICO investors, some big news came to light a few weeks ago. Julian Hopp, who was seemingly one of the driving forces behind TenX, decided to leave the project once and for all. Most ventures wouldn’t survive such a setback, but TenX is seemingly very different.
This becomes even more apparent when looking at the most recent TenX price chart. Despite a strong dip not too long ago, the market is undergoing a wild transformation. For the second day in a row, strong gains can be noted across the board. In the past 24 hours, another 26% USD uptrend has been recorded, followed by a 31% gain in BTC value and a 34% gain in ETH value. All of this is happening with just $7m in trading volume as well.
Speaking of the departure of Julian Hopp, Torjus Gaaren seems to confirm this departure shouldn’t impact the value of PAY all that much. The bad news caused a market shift, but it seems people are looking toward the future again. This doesn’t mean TenX is out of the woods completely either, as there is still plenty of work to be done to remain relevant.
As is customary, really bad news always comes at the bottom. #PAY was no exception. Very strong move recently. Unfortunately I missed this one as I thought we would get a more drawn out accumulation phase, but I might enter upon a higher high and higher low. #tenx pic.twitter.com/jnlsnWilFx
— Torjus Gaaren (@TGaaren) January 20, 2019
It would appear not everyone is on board with TenX as of right now though. According to Leila Lee, a large PAY dump took place on the South Korean exchanges over the weekend. This seems to have been a minor incident when looking at the overall gains PAY noted over the past few hours, though. South Korean traders often try to influence crypto markets in different ways, yet they hardly ever succeed in doing so successfully.
— Leila Lee [live for humanity] (@ShenWukong) January 20, 2019
Most traders and speculators only want those juicy profits and it appears PAY is delivering quite big. As Fons shares with the world, there has been a strong TenX bounce in the past few days, allowing some traders to pocket profits of up to 176% in quick succession. Taking advantage of market dips is always a smart idea, regardless of one’s sentiment toward a specific project.
— Fons @ The Chart Inspectors (@Crypt0fons) January 21, 2019
Based on the current market circumstances, it seems evident this current PAY price momentum will not remain in place for very long. Noting such steep gains in quick succession without repercussions is out of the question. At the same time, it shows TenX is still in a good place, at least where speculators are concerned. How all of these developments will affect the project itself over the coming months, has yet to be determined at this stage.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.