Next-generation platform CPI (Crypto Price Index) won’t stay out of the headlines — for all the right reasons. It first hit Emirati news with royal links confirmed, and now, barely a month after listing, its price has shot up over 20 times.
The crypto price index has almost single-handedly transformed how most decentralized finance (Defi) projects are viewed within crypto space and its massive price surge now sees CPI tokens currently trading at a little over $115. Not bad for a token that started out with a $5 price tag. Even more impressive is the fact that it did not go through the traditional crypto public sales typically known as ICOs or IEOs.
Preventing the Big Sell-Off
Funding crypto projects through token offerings hasn’t been a bed of roses for many startups, contrary to what they are widely touted as. These sales usually lead to heavy selling pressure once the crypto project lists its tokens on an exchange. The team behind CPI recognized this, hence the decision to conduct a private investment round with reputable business associates and accredited investors who all agreed to a year-long token lock.
Herbert Law, CEO of CPI, believes this, combined with increased retail demand for CPI tokens, was an important drawstring that set the ball rolling and triggered a positive outcome. He said:
“This prevents the big sell offs commonly seen in the crypto market that are a result of poor planning… The restricted token sales paved the way for a smooth transition to trading in the secondary markets.”
A month after listing on HotBit Exchange, CPI is now poised for additional listings on exchanges including Bilaxy and Hotbit. August 18th will see CPI tokens go live on BitForex and Digifinex, as the team pushes for more liquidity and accelerated growth. With the current price steadily edging toward $120, it will provide opportunities for arbitrage trading – which can directly impact general interest in the token and further drive the price up.
Crypto Price Index remains the very first token ecosystem of its kind, making it one of highly speculated upcoming DeFi projects. CPI offers a range of services including; enabling users to earn more with greater certainty and safety from hundreds of multiple cryptocurrency options made available on the platform.
The Emirati Connection
The CPI project also stands out in a crowd of other DeFi tokens thanks to sturdy support from members of Emirati royal families. These families have been actively involved in its investment, publicity and even landing front roles on the company’s board. Their participation in the project has garnered recognition and media coverage, one of which was the 2019 UAE royal acquisition of shares in CPI. Following this was the announcement that Sheikh Abdullah Bin Rashed Al Sharqi, a seasoned diplomat and serial investor, has taken the role of co-founder of the project.
No doubt CPI will be one Defi project crypto enthusiasts will have their eyes on for the remainder of 2020.
Learn more about Crypto Price Index and upcoming listings here.