PHX is a Chinese coin used as a part of capital markets research platform. Is it a good investment? Should you hold this crypto? Read our price forecast to make a more grounded decision.
What is Red Pulse Phoenix (PHX)?
According to the project’s official webpage, Phoenix is a next evolution of Red Pulse, which is a tokenized research ecosystem for China. It consists of the website Redpulse.com and mobile app with push notifications based on topics, type of a company, and sectors.
The platform is needed to help ordinary users and large investors to understand the features of the main sectors of the Chinese economy. Phoenix is a large information project, which brings together a huge amount of data from different sources. Analysts are constantly working on updating information and excluding fakes, rumors, and subjective assessments.
PHX is designed to power a new content production and distribution platform which is focused on capital markets in China. Anyone can start getting paid for sharing their knowledge about Chinese markets (read more on RedPulse Twitter page).
The project’s coin was named RPX earlier. Several months ago, after the platform’s rebranding/updating, crypto exchanges supported the Red Pulse (RPX) token swap to PHOENIX (PHX). PHX Coin showed incredible growth on Binance in the end of October 2018.
You can buy the coins on three top exchanges Binance, Huobi, KuCoin, as well as on several other, less popular websites. But keep in mind that trading volumes are not very stable. Effective trading is currently possible only on Binance.
PHX Price Prediction 2019-2020
We’ve find some factors that may affect price of PHX coin in one way or another.
Potentially favorable factors include:
- Phoenix has recognizable brand with a good design.
- The website of the platform is relatively informative. There you can find so-called PHOENIX One-Pager (like very short Whitepaper), Development Plan, etc.
- There is staking crypto feature. To take advantage of it, you need to convert your PHX tokens into PHF (PHOENIX Fire).
- The economy of China has an immense potential.
Potentially unfavorable factors are as follows:
- There are so many altcoins in the cryptocurrency market. Some of them are offering features that are similar of those of Phoenix, for instance, Callisto has Cold Staking protocol.
- Redpulse.com website is not very popular at the moment. According to SimilarWeb, it is ranked 841, 543 worldwide (as of 15 January 2019).
We believe that in short-term perspective PHX price may decrease. Pumps are always followed by dumps. But as practice shows, highly pumped coins at Binance increase in value again after some correction. In addition, we think that Redpulse.com will develop in future and attract new writers, hence the token’s price will gradually increase. If during 2019 the project will be able to attract a sufficient number of users, then in 2020 the coin will be able to show a remarkable growth.
Find our PHX price forecast for 2019 in the table below.
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Disclaimer. This information should not be used as investment advice. It is of educational nature only. Always do your own research before investing in crypto-coins and trading.