Back on May 23🗓️, I made a post urging people not to hate on the PX token and highlighted several bullish factors such as👇:
Burning
Buyback
Tournament
Listing on a CEX
Since then, PX has grown by +90%🚀 at its peak, and users who provided liquidity to the PX/USDT pool on STON.fi could have earned an additional +10% from fees💸.
This is how you could’ve made a 2x🚀 — thanks to both the token’s price growth and liquidity provision.
But there’s also some bad news😓.
While the #CEX listing will have a positive impact on PX itself, it will negatively affect the APR📉 in liquidity pools with PX on STON.fi. Fortunately, CEX isn’t a major exchange, so the APR drop is unlikely to be severe.
That said, after tomorrow’s CEX listing, I expect the PX token to drop to a market cap of 📉$22M within the next 10 days. This is because the hype around the PX token will fade, and with the end of the tournament and the prize distribution coming up — along with major payouts for various contests and promos on CEX — a total of 10M PX (4% of the total supply) could hit the market☝️.