AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- Altcoins like DOGE, ETH, and SOL have become large-cap crypto assets, but Bitcoin is still at the top
- Any new asset can be launched any day, and hence, crypto enthusiasts must prefer caution
- LPN token or LPNT price volatility has remained quite high this year, with steep ups and downs
Did you know that there are tens of thousands of crypto assets available globally? Regardless of the risks and volatility that ail the cryptocurrency investment space, new assets continue to be launched. Crypto price tracking website CoinMarketCap tracks close to 19,000 assets.
BTC may have the biggest share in the total market cap of the crypto space, but altcoins seem to be catching up fast too. One altcoin gaining traction is Luxurious Pro Network or LPNT, which has yet to feature in the top 100 or even top 1000 cryptos by market cap. Let’s know more about the project.
What is Luxurious Pro Network Token?
Claiming to be a ‘multi-utility’ crypto, the token is based on Ethereum’s blockchain network. It is said to be a part of a wider ecosystem that touches forex trading and luxurious transportation. The whitepaper mentions that the project is financially backed by “multi-billionaire” investors. It is also claimed that at least 100,000 users of the token exist globally, and the project has trademarked its brand name.
Also read: Deciphering debate around Bitcoin as reserve currency
Though the project has mentioned the utility of LPNT in sectors like finance and transportation, how it will be achieved has yet to become clear. The ecosystem, according to the whitepaper, will include in-house multi-currency wallet, custodial services, and even banking services like remittances.
It is being claimed that the token would offer zero chargebacks and that the fee levied on transactions will be low. The project is also planning to have a payment gateway in the future, which could rival PayPal.
What is LPN token's price?
CoinMarketCap data suggests that LPNT has manifested extreme volatility so far this year. Separately, the market cap of Luxurious Pro Network Token is not verified independently by CoinMarketCap.
Also read: IDEX crypto rises: What is IDEX decentralized ecosystem?
LPNT price at the start of 2022 was nearly US$14, which dipped to under US$11 by January 11, but a sharp rally in mid-January took the price to over US$23. By late February, however, LPN token’s price fell to below the US$11 level, before registering another short-lived rally that lifted the price to over US$20.
As of writing, LPNT traded at nearly US$11, and the past volatility makes LPNT price prediction very difficult.
Data provided by CoinMarketCap.com
Bottom line
Luxurious Pro Network Token does not appear to be targeting any particular sub-sector like metaverse, DeFi or NFTs. It claims to be an ERC-20 token with multiple use case. But the utility of LPNT has yet to be demonstrated. The price of LPNT has registered sharp ups and downs over the past months of this year, which means any decision must be backed by extreme caution. Lastly, LPNT does not feature in top assets like BTC, DOGE and AXS, and hence, due diligence must be preferred over sentiments.
Also read: Maple Finance crypto sharply rises in 2022: What is MPL token?
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
