PundiX (NPXS) Boosted by Upcoming Token Swap
PundiX (NPXS) attracted attention this week, as it outperformed other altcoins. The price of Bitcoin (BTC) stagnated and slid below $52K briefly, dragging along other altcoins. But NPXS started to look promising for holding its price position while also promising real-world utility.
PundiX is known for its point of sale solution for using crypto to make everyday purchases. The POS devices of PundiX spread from Singapore, and are going through popularization in Brazil and Nigeria. Crypto spending is still a limited market, due to price volatility, but PundiX is one of the projects that survived for a long time since its initial token sale in 2017.
NPSX market prices started climbing along with the general market awakening in January. Toward the end of the first quarter, the asset looks set to go over the $0.01 barrier.
Token Swap Boosts Prices
The reason for the sudden interest in NPXS is the upcoming token swap to a new type of asset. NPXS will do a token swap to decrease the number of tokens outstanding by a factor of 1,000. This means the new PUNDIX token will have a price of a few dollars, escaping the image of a sub-penny crypto asset.
The token swap will happen on March 31, meaning new buyers may have to get acquainted quickly with the conditions of the swap. Holders of NPXS on a private wallet need to be careful to send the old tokens to the right address to avoid losses. For exchange deposits and XWallet owners, the swap will happen automatically, with no action demanded on their side. Using Ethereum-based wallets like MyEtherWallet or MetaMask will also incur gas fees.
The asset’s ticker will also change to PUNDIX, starting a new chapter in the token’s history. The new token will still be based on the Ethereum network, and gas fees will apply. After the swap is completed, the new tokens will also participate in DeFi lending and liquidity pools.
Instead of above 236 billion tokens, there will only be about 23.6 million PUNDIX, a much more limited supply. The initial price change will be nominal, but the swap may trigger new price discovery as PUNIDIX becomes one of the new DeFi assets.
What PUNDIX Has to Offer
The new token will come with passive staking functionality and regular rewards. The old NPXS staking will soon be disabled. Starting in April, PUNDIX DeFi staking will start on decentralized exchanges.
Additionally, unscheduled PUNDIX buybacks may continue, as they were one of the attractive features for the old token.
The PundiX team is also working on the Function X project, which will build an entire blockchain-based economic ecosystem. The Function X will come with its own FXC token, also showing potential for new gains. The new asset will also come with its own wallet for staking.
The project continues to grow its main business, the XPOS terminals for crypto payments, expanding to multiple markets, though some locations remain a priority.
PundiX Rides on Improved Sentiment
The PundiX project lined up near the top on the CoinGecko mentions and sentiment chart. At one point, PundiX was near the top.
The improved position of PundiX within the top 50 coins by market capitalization further improves the token’s potential to add to its price. The current asset is up more than 67% in the past week even after some backtracking. The token is also among the hottest assets in the top 50 of coins by market capitalization.
Price targets for NPXS before the swap see the asset as high as $0.03, translating into a potential price of $3 for the re-denominated tokens. The project will also continue to ride on the back of a highly active community, as well as upcoming announcements of its expanded network.
How to Get PundiX
PundiX is available on the most active markets targeted to Asian investors. The most liquid pair for NPXS is on Binance, and the asset is also available through Huobi, OKEk and KuCoin. For US buyers, acquiring NPXS or later PundiX may be limited depending on their access to international markets.
EU-based Kraken and Bitpanda also support NPXS wallets and will continue trading the asset.
Google search volumes are also up for PundiX, signalling renewed interest from retail buyers. The asset is one of the big stars of the 2017 bull market, though it went on to lose more than 90% of its value.
NPXS is still down 90% in terms of BTC valuation. In the past month, however, NPXS has been adding Satoshis to its price, boosting its price position. PundiX attracts attention at a moment when investors are seeking the high potential returns of altcoins, and the days leading to the March 31 re-evaluation may see even more lively price action.
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