POLYX Price Analysis November 2022

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POLYX is a token of the platform Polymesh. Its current price is around $0.1463 at the time of writing, with a low of $0.1013, and it has a market cap of 59 million dollars.

What is Polymesh?

POLYX is the coin of the Polymesh platform, which is around $0.1463 at the time of writing, with a low of $0.1013. It reached a high of $0.3975, and its current ranking is #298, according to CoinMarketCap, with a market cap of 59 million dollars. POLYX is the fuel of Polymesh – it manages security tokens, provides governance for POLYX holders, and secures the blockchain through staking.

Utility tokens are only designed for use in a particular ecosystem. PolyX is one of those utility tokens and is regulated by Swiss laws based on guidance from the Swiss financial regulator, FINMA. POLYX is used for many things on XRP Ledger – including paying transaction fees and staking on node operators. Connecting these functionalities creates a Polymesh ecosystem where the POLYX network protocol token becomes the central point for all transactions.

POLYX Coin Market Analysis 

POLYX has a total supply of 522,161,895 coins worth around $0.1463 with a market volume of 14 million dollars, whereas the market capitalization is 59 million dollars at writing. The POLYX token supply is algorithmically governed, so the total supply continuously approaches a limit. New tokens are created based on the schedule, with the time taken into account to allow for adequate liquidity and growth in demand.

POLYX Crypto Price Prediction

In the 4H timeframe, the price action of $POLYX/USDT consolidates inside the bear flag. If it breakdown its support trendline. Then it can go downwards.

For any time, on-demand analysis on $POLYX or any other coin can join our Telegram channel.

Polyx Price Analysis
POLYX Price Analysis

Closing Thoughts

Discipline and Patience are the most critical components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Research before investing.

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