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Cryptex finance price prediction: What is cryptex finance (CTX)?

By Peter Henn

14:44, 28 September 2022

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BNB/USD
Binance Coin / USD
289.69 USD
-5.29 -1.830%
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DAI/USD
1.0136 USD
0.0001 +0.010%
ETH/USD
Ethereum / USD
1235.24 USD
-23.42 -1.860%
USDT/USD
USDT/USD
1.0001 USD
0.0001 +0.010%

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CTX
Will CTX be able to build on recent minor gains? - Photo: Shutterstock

Cryptex finance (CTX) helps maintain another crypto linked to the size of the overall cryptocurrency market. Confused?  Let’s take a detailed look, and examine some of the cryptex finance price predictions that were being made as of 28 September 2022. 

USDT/USD price chart

Cryptex finance explained

Probably the most important statistic for judging the health of the cryptocurrency market is its overall size, the capitalisation of every coin and token added up together. Individual coins and tokens either overperform or underperform the overall market, but the overall market’s ultimate size and direction of travel allows people to decide how crypto is doing as a whole. With the enormous variety of cryptocurrency and associated blockchains and blockchain-based networks available, it was inevitable that, one day, someone would want to create a cryptocurrency that was based on the size, shape and overall health of the crypto market itself, much like stablecoins such as tether (USDT) reflect the state of the US dollar.

This idea came to fruition in the form of a token called Total Crypto Market Cap (TCAP), founded by Cryptex Finance. According to the system’s whitepaper, with TCAP, “Cryptex has successfully tokenized” total cryptocurrency market capitalization, “referenced and quoted every day as one of the key metrics measuring the expansions and declines” of the cryptocurrency sector.

TCAP is, ultimately, run by a decentralised autonomous organisation (DAO), which has a cryptocurrency of its own. This crypto is called, conveniently, cryptex finance, also known by its ticker handle, CTX. While TCAP exists to reflect the overall size of the cryptocurrency market, CTX helps the whole operation run smoothly. People who hold CTX can vote on proposals to the network and can delegate their votes out in return for rewards. They can also stake their CTX into a liquidity pool, thus helping to keep the crypto’s internal market buoyant. 

 TCAP operates via collateralised assets based on smart contracts, computer programs which automatically execute once certain conditions are met, with collateral held in a range of cryptocurrencies, including DAI and ether (ETH). Unsurprisingly, TCAP and, therefore, CTX are based on the Ethereum blockchain. This also means that CTX is a token, rather than a coin. You might hear references to such things as a cryptex finance coin price prediction, but these are, technically speaking, inaccurate. 

Cryptex Finance and, therefore, TCAP and CTX were founded in 2021 by ethereum developer Preston Van Loon from Nashville, Tennessee, investment manager Joe Sticco, who also serves as the organisation’s CEO, and smart contract developer Cristian Espinoza, from Honduras. 

As an aside, the Cryptex Finance organisation and the cryptex finance token should not be confused with cryptex, which is a token working with security on the BNB Chain (BNB), formerly the Binance Smart Chain, or with the Cryptex cryptocurrency exchange.

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Cryptex Finance price history

CTX price historyCTX price history from launch to present - Credit: Capital.com

While past performance should never be taken as an indicator of future results, knowing CTX’s price history can help give us some important context when it comes to either interpreting a cryptex finance price prediction or else making one of our own. 

CTX first came out in June 2021, when it was priced at around $4. Although it soon dipped to below $3, a run in September saw it top $40, before spiking on 16 November to reach an all-time high of $65.15. The token then fell back down to close the year at $12.26.

BTC/USD

16,856.45 Price
-1.040% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 60.00

XRP/USD

0.38 Price
-1.800% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00288

LUNC/USD

0.00 Price
-3.290% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee -0.0500%
Overnight fee time 22:00 (UTC)
Spread 0.00000685

ETH/USD

1,235.24 Price
-1.860% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 5.00

So far, 2022 has been a disappointing year for cryptocurrencies, and CTX has, perhaps appropriately, dropped with the market. When the UST stablecoin was depegged, causing the collapse of the associated LUNA cryptocurrency, CTX fell to $2.81 in May, before recovering to $9.28 on 8 June. A slum followed, but the news that CTX was to be made available on the Coinbase crypto app triggering a climb to $4.69 on 27 September. The token was worth about $3.85 on 28 September 2022, not far off a tenth of the $30 it had been trading at 10 months esrlier. At the time of writing (28 September 2022), there were just under 3.4 million CTX in circulation out of a total supply of 10 million. This gave the token a market capitalisation of around $13m, making it the 688th largest crypto by that metric. 

Cryptex Finance price predictions

Price forecasts, especially for something as potentially volatile as cryptocurrency, very often turn out to be wrong. Many long-term crypto price predictions are made using an algorithm, which means that they can change at a moment’s notice. Cryptex Finance price predictions that were being made as of 28 September 2022 vary widely in their estimations of what the token could be worth even at the end of this year, from effectively nothing at all to almost $13, requiring a threefold rise in three months.

 CoinArbitrageBot had the most optimistic cryptex finance price prediction for 2022, suggesting that it could reach as high as $12.96 this year before hitting a potential $23.07 next year before getting to little under $37.33 in 2024 and just below $60.40 in 2025. How much you are willing to trust this forecast will depend on whether, having done your research, you think that the price of CTX can leap by more than 200% by the end of the year. 

CryptoPredictions.com made a CTX price prediction that argued the token could close the year at down to a little under $3.29, before recovering to $4.76 in September 2023 and $6.92 a year from then. The site then made a crypto finance price prediction for 2025 that saw it open the year at around $7.48, before potentially hitting just below $8.46 in September and closing the year at nearly $8.75. By September 2026, the site thought CTX could trade at almost $9.57 before ending the year worth a potential $9.81. 

 DigitalCoinPrice’s cryptex finance crypto price prediction indicated that the token could hit $4.15 this year, $8.60 next year and $12.48 the year after that. By 2025, the site thought CTX could continue to grow to $15.58, before the bears came and it dropped to $13.56 in 2026. There could, however, be a recovery if the forecast were to hold true, with it reaching $18.92 in 2027, $26.88 in 2028 and $38.65 at the end of the decade. The site then made a cryptex finance price prediction for 2030 that argued the token could reach $53.77 before possibly climbing to $73.19 in 2031.

 Gov Capital was far more bearish in its CTX price prediction, suggesting that the token could drop to a level so low as to not be worth recording by 22 October 2022. There was little hope for a recovery, according to the site, as the site’s forecast for 28 September 2023 was $0, indicating that it would be, at that stage, a de facto dead coin. 

When considering a CTX token price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.

FAQs

Is cryptex finance a good investment?

It is hard to say. It has performed reasonably well recently, but it is still down considerably from where it was a year ago. A lot will depend on how the cryptocurrency market performs as a whole. 

Remember, you should always carry out your own thorough research before making an investment. Even high market cap cryptocurrencies have proved vulnerable to the current bear markets. Investors should be prepared to make losses and never purchase more than they can afford to lose.

Will cryptex finance go up or down?

It is difficult to tell. While the likes of CoinArbitrageBot are rather upbeat in their forecasts, sites such as Gov Capital are far more bearish. It is important to remember that price predictions very often end up being wrong and that prices will go down as well as up. 

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether CTX is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. If you cannot afford to lose it, do not risk your money.

Should I invest in cryptex finance?

This is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never put at risk any money that you cannot afford to lose. because prices will go down as well as up.

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Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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