TenX Price Issue Raises Excitement Among the Market
TenX saw a rise in value by over a whopping 50 percent in one night, resting at $1.31 press time despite any actual catalyst to the sudden boost in price. As of now, PAY is worth two times what it was last week and only continues rising.
The current trading volumes at almost $70M are reminiscent of prices in 2017. Currently, PAY remains lower by around half its price since Bitcoin’s massive peak in December 2017, hovering at 19K Satoshi. Despite that, Bithumb’s lockdown blocks any attempted TenX token deposits which have resulted in a small and limited supply, boosting PAY’s price up to nine dollars and hovering around seven dollars as of late.
Trading at almost ten times its actual price, one user stated that Korean traders were trading the currency like wildfire on Bithumb. Pay is also slightly climbing on another crypto-crypto digital exchange, KuCoin, placing the price at around $1.33 and despite a lack of pumps available on smaller markets, PAY sits at $1.02.
PAY’s current shine in the spotlight among Korean traders may come to an end once Bithumb reopens its deposit services and allows more PAY to flow in, severely reducing its current price surge. According to reports, the exchange is currently beginning to reintroduce a few of its suspended services since the crippling cyber attack.
Bithumb is resuming several operational features on its exchange since the last hacking attack took place and forced them to temporarily suspend certain privileges. The exchange is resuming its suspended services and reintroducing them by starting off with fiat currency withdrawals through an announcement stating that South Korean won withdrawals are resuming.
PAY’s price spike is an unusual event given the lack of any news indicating a market shift of any sorts. As a result, its new and high value may drop once again within a few days. Prior to the bounce in price, participants on Reddit stated that the company’s developers were delayed with the release of TenX’s digital currency cards and may possibly eliminate the project overall.
As part of a tight-knit community with a small number of supporters, no official comments have been made on the matter and leaves PAY in a questionable state.