Will Ellipsis (EPX) crypto's Version 2.0 rally last the distance?

May 30, 2022 10:43 PM AEST | By Manu Shankar

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Will Ellipsis (EPX) crypto's Version 2.0 rally last the distance? — Image source: © Alexanderushkevich | Megapixl.com

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Highlights

Built on top of the Binance Smart Chain protocol, the EPX can be considered the Ellipsis 2.0.

With the new EPX crypto, the Ellipsis will be more in sync with the Curve's veToken mechanics and allow the users to lock the Ellipsis token for up to one year.

The EPX crypto was trading at US$0.001461 with a 24-hour trading volume of US$1,85,21,154 over a day.

Ever since Binance completed the Ellipsis (EPX) crypto completed the token migration on 24 May to the new EPX crypto, the crypto has been witnessing an increased interest from the investors.

Although the protocol had completed the migration in March, the exchanges were still in the process of offering the services with the new ticker name. But with Gate.io, Binance, etc., offering new ticker services, the investors are back, thereby resulting in a rally of 4.17% on 30 May.

The rally came after it was down by 24.5% in the past week, raising eyebrows after its migration announcement. But today's rally must have brought the cheers back to investors' faces.

EPX vs EPS

Built on top of the Binance Smart Chain protocol, the EPX can also be considered the Ellipsis 2.0. Ellipsis Finance is primarily an authorised fork of Curve Finance, and its Version 1 was primarily based on offering Curve's StableSwap protocol to users on the BNB chain.

However, with the new EPX crypto, the Ellipsis will be more in sync with the Curve's veToken mechanics. This will allow the users to lock the Ellipsis token for at least one year, wherein they will get access to voting rights, receive yields for locking their liquidity positions, etc.

Besides, the Ellipsis protocol uses pools to facilitate token swaps, and a fee is charged on each token swap. This is a split between the liquidity providers and EPX lockers. Therefore, if the pool’s liquidity is more, there will be a greater chance to reduce the slippages while swapping tokens.

How is Ellipsis crypto faring?

The newly launched token is ranked 2823 on CoinMarketCap. The EPX crypto was trading at US $0.001461 with a 24-hour trading volume of $1,85,21,154 over a day. The EPX crypto boasted of a fully diluted market cap of US$1,462,129 with a maximum supply of 1,000,000,000 EPS coins.

At present, crypto markets are gripped with fear and volatility for some time now. As leading cryptos not faring well, market participants do a proper market study before taking any investment decision.

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