PIVX is one of the only coins in the top 100 appreciating today. It has had a strong performance over the past two days, increasing from around $1.1 yesterday to an intraday high of $1.5 today. It has since started to retrace and is currently trading around $1.22, but the performance of PIVX is still good given that most coins are depreciating in the double-digits today.
Standing for private instant verified transaction, PIVX is a fork of DASH. DASH is the most well-known coin implementing the proof-of-stake system where users can hold coins and receive a monthly dividend from operating a masternode. PIVX holders who have at least 10,000 coins also have the option to operate a masternode. There is no clear catalyst for PIVX’s upward movements in a dropping market. The price has been steadily increasing and investors may be considering the price of PIVX as cheap to obtain a masternode. Back in January, it would have cost about $120,000 to obtain enough PIVX to operate a masternode. At today’s prices, it costs approximately $12,200.
RSI has been increasing forming higher highs and higher lows showing increasing momentum to buyers. The MACD has been diverging to the upside also showing increasing momentum to buyers.
- PIVX rises from $1.1 yesterday to an intraday high of $1.5 today despite a falling market where many coins are recording double-digit losses.
- No clear catalyst for the drop but many may be considering the price cheap to obtain a masternode with the price earlier in the year being approximately $120,000.
- MACD diverges to the upside and the RSI increases forming higher highs and higher lows both showing increasing buyers momentum.
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