Why is LCX (LCX) crypto gaining attention?

Highlights

• LCX (LCX) is a regulated digital currency exchange.
• The LCX utility token powers the LCX.com platform and the LCX exchange.
• LCX has a market capitalization of US$48.08 million, with 10,348 token holders.

Cryptocurrencies are becoming a major topic of discussion in global forums. The World Economic Forum 2022 is the latest to hold discussions on cryptocurrency.

The subject was among the discussion themes at its ongoing annual meeting from May 22-26. It was discussed under the Tech and Innovation topic, one of the eight subjects examined.

Issues such as crypto carbon footprint, the trustworthiness of the digital ecosystem, and possibilities of the metaverse, etc., were discussed.  

LCX is a member of the World Economic Forum's Center for the Fourth Industrial Revolution.  

The LCX crypto has been grabbing attention since the conference kicked off - themed 'Working Together, restoring Trust'.

Also Read: Crypto exchange FTX set to launch commission-free stock trading service

On Tuesday, the company announced on its Twitter handle that NMKR tokens can now be traded on LCX exchange. It has recently made technology upgrades to support the native Cardano tokens such as NMKR. 

NMKR is a governance and utility token of the NFT-MAKER ecosystem, a toolset to create and sell NFTs on the Cardano blockchain. 

However, the LCX (LCX) token price declined 1.61% to US$0.0635 at 9:56 am ET on Tuesday, in sync with the global crypto market, which fell 4.12% to US$1.25 trillion at the same time. 

Let’s understand what LCX is?

LCX.com is a crypto exchange headquartered in Vaduz, Liechtenstein. It was founded in 2018. In January 2021, it launched the regulated and compliant digital currency exchange, LCX. The LCX crypto exchange provides a secure, compliant platform for trading in digital currencies.  

The company aims to transform the capital market using blockchain technology and introduced a crypto compliance suite.

Its advisory board includes Jimmy Wales, founder of Wikipedia; Don Tapscott, author of Blockchain Revolution; and Yat Siu, chairman at Animoca Brands. 

Also Read: Why gaming crypto platform MOBOX (MBOX) volume soared 124%?

Besides LCX Exchange, LCX.com has launched a second layer DeFi protocol, an end-to-end tokenization platform, a token sale manager for compliant initial coin offerings, and regulated price oracles and crypto reference prices. 

Also Read: Why is Tron (TRX) crypto rising amid a market crash?

Data Source: coinmarketcap.com

Also Read: Why Elongate (ELONGATE) crypto volume surged 40,000%?

LCX token:

LCX is an exchange-based utility token. The token powers the LCX.com platform and LCX digital currency exchange. It offers users a discount on trading fees at the LCX exchange and other benefits.   

Its 24 hours trading volume rose 145.28% to US$811,973, with a circulating supply of 757.20 million LCXs. LCX token’s total supply is 950 million.

Also Read: What is DEXTools (DEXT) crypto and why is it up?

Bottom line:

LCX has a market capitalization of US$48.08 million, with 10,348 token holders. The top 100 holders have around 64.33% of the token supply.

The LCX tokens can be traded on Coinbase, Bitrue, Uniswap (V3), Hotbit, and HitBTC.

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 instruments 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.