Cryptex Finance Launches NFT Index Token JPEGz

Cryptex Finance, an open-source financial solutions-driven firm for the global Crypto community, announced its new NFT index token JPEGz, powered by Chainlink NFT Floor Pricing Feeds from Chainlink Labs and Coinbase Cloud.

Ever since last year, when the NFT market gained traction within the industry, the rise of NFTs has been seen to have increased, with the NFT market hitting over 1,000,000 sales despite how volatile non-fungible tokens are. 

Even some of the most significant Web2 companies, like Adidas, eBay, Samsung, and so on, joined the moving train of the rapidly growing NFT market, making the NFT Market Cap reach an all-time high of over $2B – according to CoinMarketCap. With this large amount of funds flowing into the NFT market, the NFT market called for creating an NFT index.

Speaking with a keynote at SmartCon 2022 in New York City, “Today marks a groundbreaking point for Cryptex and our newfound ability to fully tokenize this unique asset class for crypto users worldwide,” said Joe Sticco, CEO and Co-Founder of Cryptex Finance.

The NFT JPEGz is an index token that will give users broad real-time exposure to the NFT market. An index token is a cryptographic token that tracks the price performance of a particular market index.

Before this announcement of Cryptex to launch an NFT index, in September, Coinbase announced its collaboration with Chainlink Labs to launch NFT floor pricing feeds earlier last week in September.

Launching the NFT floor pricing feeds enables the latest NFT pricing data to be easily accessible to developers, allowing them to deploy unique smart contracts across DeFi use cases and more with high-quality pricing data and an optimal liquidity profile.

Cryptex Finance’s index token JPEGz is said to reference Chainlink NFT Floor Pricing Feeds to help ensure the JPEGz token reflects globally accurate floor prices for popular NFT projects.

Image source: Shutterstock


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Coinbase Suddenly Lists Five New Altcoin Projects Triggering Parabolic Rallies

A surprise group of tokens is sizzling after a sudden listing by top US crypto exchange Coinbase.

In a new announcement, the exchange says that five low market cap altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Cryptex Finance is an Ethereum protocol whose native token CTX provides governance and security. The protocol manages a second token called TCAP which offers investors exposure to the total cryptocurrency market cap.

Cryptex Finance initially jumped 30.7% from $7.60 to $9.94 but has seen choppy price action since. It’s currently up 49.02% today and trading for $11.06.

Also getting the green light from Coinbase Pro is Dia (DIA), whose abbreviation stands for “Decentralized Information Asset.” The project offers cross-chain and open-source oracles for Web 3.0.

Dia roared 53.4% from $0.73 to $1.12 and has since fought its way to $1.20, marking a 54.19% gain on the day.

Next up is Maple (MPL), a financing protocol that offers both institutional borrowing and fixed-income lending across the decentralized finance (DeFi) space.

Maple immediately jumped from $9.92 to $11.71 but didn’t stop there. MPL is currently trading for $15.99, marking a total gain of 61.1%.

Another altcoin joining the Coinbase Pro roster is Pluton (PLU), a financial services app that’s based in Europe. Users can earn rewards as well as swap crypto assets on the platform.

News of the Coinbase announcement sent Pluton vertical, increasing 242% from $6.78 to $16.43 in a flash. PLU peaked at $17.44 before correcting, but remains up 143% on the day at $15.52.

Last on the list is Unifi Protocol DAO (NFI), which utilizes DeFi to allow staking with a number of digital assets.

Unifi Protocol DAO also shot off the launch pad and leaped nearly 42% from $4.43 to $6.29. UNFI has retraced a bit but is still up 30.36% on the day and trades for $5.76.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/diversepixel/Nikelser Kate


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