PundiX (NPXS) Surged Over 130% In Two Days

NPXS, the native token of PundiX, a PoS solution provider, has skyrocketed in value over the past 48 hours. In just two days, the NPXS price on Binance has surged over 130%, beating most of the major cryptocurrencies on the exchange.
The rally is driven by three key reasons: the launch of token staking, the reduction in the number of tokens, and the overall positive sentiment in the altcoin market.

On March 13, Zac Cheah, CEO of PundiX, confirmed that the token cut and stake placement for NPXS will happen later this month. When the supply of a token decreases, it immediately acts as a catalyst, as it usually raises the price if the demand remains the same.

PundiX is reducing the number of its tokens to a 1000: 1 ratio and changing the name of its own token from NPXS to PUNDIX. The rebranding contributes to an overall increase in interest in NPXS, given that the token has been consolidating over an extended period. In addition, the placement of tokens further enhances the positive impact on value as it encourages more users to place NPXS staking and refrain from selling as the token is locked.

Image: Coinpedia