In the last 48 hours, the crypto market has been in the red, with bitcoin touching a low of $8300. But there is one coin that seems to be gaining, despite all the negative news prevailing in the market, and that’s PIVX Coin. PIVX gains come after the team behind it launched private staking (zPoS).
The whole idea behind zPoS is to enable investors’ stake their coins, while at the same time maintaining their privacy. This is a major advancement, one that will increase the security of the PIVX network. It will also serve make PIVX network even more decentralized, since there will be a higher number of investors staking coins, out of the comfort that their identity is secured. Private staking is a relatively new concept, and the fact that PIVX is among the first privacy focused cryptos to implement it could help push it up the crypto rankings ladder.
However, this is not the only factor that is contributing to the steady rise of PIVX Coin at the moment. There are several upcoming news too, that will continue to anchor the value of PIVX. One of the most important upcoming PIVX news is the private decentralized exchange. The PIVX team intends to launch a private decentralized exchange within this quarter. The exchange which is part of the PIVX core wallet will allow investors to purchase PIVX directly using bitcoin without any intermediaries. What’s even more interesting is the fact that the transaction fees from this exchange will be used to reward those staking on the PIVX network.
Therefore, the private decentralized exchange will not only serve to increase PIVX volumes, but also play a major role in stabilizing the network for its long-term efficiency. That’s good for long-term value growth, and investors are taking note of it.
With such strong fundamentals, it is not hard to see why PIVX is holding steady despite the drop in the entire market. There is good potential that it could become the number one privacy coin in the near future. That’s because it is introducing features that even better known privacy coins don’t have. These features are an addition to its other equally strong features including high transaction speeds, low transaction costs and a high level of scalability. All these make it a prime candidate for mass adoption going into the future. It could end up getting adopted not just as a privacy coin, but also as a crypto for every day merchant transactions.
So how is PIVX likely to perform in 2018, based on technical indicators? PIVX is currently trading at around $5-$6, which is quite a bargain when compared to its all-time highs. With the current developments and the many others that are in the pipeline, PIVX Coin could easily head back to over $12 once the market momentum returns. The fact that it is holding strong in the wake of a market correction shows that it has the capacity to outperform the market this year.