PIVX (PIVX) & Cryptonex (CNX) Make Huge Gains but What Are They?

PIVX

PIVX and Cryptonex are the top cryptocurrencies with the most growth on today’s market.

PIVX (PIVX)

Source: coinmarketcap.com

Privacy coins have been a hot emerging sector among the cryptocurrency space. Monero (XMR) was among the first, along with Verge (XVG). Just recently, PIVX (PIVX), another privacy coin, has been making a name for itself as it became available for trade on the world’s largest exchange, Binance. PIVX stands for “private instantly verified transactions.”

It shot up almost 50% within the past two days, since the announcement. Currently, you can trade for the PIVX coin with Bitcoin, Ether, or the Binance Coin.

The PIVX coin transactions used a system called Zerocoin, which makes its transactions private by creating a new, second-tier currency called zPIV. PIVX has a slow mining supply which means there is no hard cap and its coin supply will grow at a glacial pace. For the month, PIVX remains highly volatile and while many now are taking advantage of it being on Binance, I’m not sure how much the volatility will change.

Cryptonex (CNX) SCAM?

Cryptonex is the cryptocurrency that has seen the most growth today, as it is currently up 32.05%. Since its launch since later October of last year, the coin has grown almost 500%. There was a scam warning posted four months ago, but it seems Cryptonex’s website has since updated.

On its website, it states that Cryptonex is a global, decentralized new generation cryptocurrency, created on its own blockchain platform. The main goal, it to offer the opportunity to exchange any of the world’s currencies for any cryptocurrency. It will also provide the option to buy good and services using cellular phones and payment cards, with minimum fees.

This project sounds similar to many different projects on the market but lacks clear defined goals. To me, it sounds all over the place but I’ll let you judge for yourself. I’m not sure how the CNX coin will have any value if its platform allows all currencies and digital currencies.

Currently, the CNX coin is selling at $8.19 a coin, up 32.05%, in 24 hours.

Featured Image: themerkle.com

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