LCX, the native token of LCX Crypto Exchange, is going through an incredible journey in the charts. It has achieved 177.45% in 7 days, with the market cap touching 224 million dollars.
Various analysts said that they are happy to see a token other than the meme coins achieving such an exceptional uptrend. This article will analyze the reasons behind the surge and analyze the current scenario regarding the price. Also, we will check whether it is too late or not. Let’s get started.
The Reasons For LCX’s Surge
The LCX exchange has been getting attention from professional investors for its executive interface. This probably has attracted whales to invest in the coin. Apart from that, the entire market scenario influenced the token to surge. The inaugural episode of Inside LCX, a program dedicated to showcasing the regular activities of the platform, was released on YouTube 5 days ago. This also sparked curiosity among the investors.
Will LCX Surge Again? Price Analysis
LCX got a similar kind of attention back in 2021. However, it gradually faded in 2022. After 3 years, the coin is unable to break its all-time high, which was achieved on November 16, 2021. From that price of $0.7048, the coin is 54.85% down today. It has a long way to travel to create another ATH.
While the hodlers expect it to reach that zone soon, we have to consider another point in its historical data. Back in February and March, it climbed so high, however, a sudden downtrend panicked all the investors. This surge also points toward these two directions. However, the chart analysis and market sentiment suggest a “strong buy”.
What Is LCX?
Launched in 2018, LCX Exchange is a regulated CEX for cryptocurrencies that offers various additional functions like LCX Token Launchpad and LCX Earn. According to the CEO Monty Metzger, the platform aims to build an infrastructure that enables trading in a regulated, trusted, and secure way. The platform emphasizes the regulatory atmosphere, and it tries to blend blockchain technology and the banking industry. Also, it has the goal to become one of the world’s first licensed blockchain ecosystems primarily intended for professional investors.
LCX Token Details
LCX is the fuel of the platform. As a foundational token, it is used for various purposes including voting, encryption, and trading fees. Those who use LCX for fees will get a reduction of up to 50%. Also, the token is legally classified as a utility token according to the US, Singapore, European, and Liechtenstein laws. Here are some details of LCX:
| Token Ticker | $LCX |
| Chain | Ethereum ERC-20 |
| Contract Address | 0x037a54aab062628c9bbae1fdb1583c195585fe41 |
| Total Supply | 950 Million LCX |
| Circulating Supply | 771.58 Million LCX |
| Market Cap | $252.81 Million |
| Hodlers | 29,511 |
How To Purchase LCX Tokens?
Beyond its own exchange, LCX is listed in prominent platforms like Coinbase, Kraken, CoinDCX, Bitrue, LATOKEN, and ProBit. The Uniswap DEX has LCX/WETH, LCX/TIA, and LCX/RBC pairs beyond the USDC and USDT pairs. Since it has use cases inside the LCX ecosystem, it is better to create an account inside LCX if you are planning to buy.
Final Thoughts: Is LCX A Credible Investment?
LCX seems like an exchange that strictly supports the regulatory landscape posed by governments across the globe. The web3 sentiment also indicates that people need support from an authority for safety and security more than privacy. So, LCX has a strong chance to become a successful exchange in the future, which will eventually increase the market cap of LCX tokens.
The foundational values, chart analysis, and market sentiment show that LCX is a good choice to diversify your portfolio. However, the high volatility that pervades the entire market forces us only to invest the amount we can afford to lose. Also, do your own research instead of blindly believing in our analysis, and make your own investment decisions.