While crypto markets, especially Bitcoin (BTC), Ethereum (ETH), are experiencing a significant downside correction, an altcoin is challenging the decline with large rallies.
At the time of writing, the banking and payments focused altcoin project MinePlex (PLEX) It has experienced an increase of over 46% in the last 24 hours. In the last 30 days, it doubled its value with an increase of more than 110%.
MinePlex is a mobile digital bank that aims to give users the ability to use fiat with crypto for payments, banking and transfers. Currently, its ecosystem consists of four main components, including the payment system MinePlex.Money, the business development platform MinePlex.Payment, the online store MinePlex.Marketplace, and the new digital banking application MinePlex.Finance.
MinePlex.Finance was launched last week and according to the press release, it aims to consolidate PLEX tokens with major fiat currencies.
“MinePlex.Finance is independent of the MinePlex platform, although it requires the use of the project’s own PLEX tokens in order to use it. MinePlex.Finance comes as an advanced solution that can be used as a digital account, payment app or mobile wallet for PLEX tokens and major fiat currencies.”
Following the launch of the new app, PLEX first started a move from $1.00 to $1.10 at the daily close. It then hit the $2.00 level less than six days later and is holding most of its earnings at the time of writing. It is currently trading at $1.84.
In the same time frame, Bitcoin (BTC) is down about 11%, while Ethereum (ETH) is trading 12% lower than last week.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.