Log In
CoinEx Academy

What Is Ellipsis and How to Buy EPX?

2023-04-26 09:48:52

The cryptocurrency market is well-known for its notoriously high volatility and constant price shifts. We have personally experienced a token price that started at one hundred US Dollars (USD) and then dropped to zero USD a few hours later. As a result, introducing a "stablecoin" has somehow resolved this issue. 

The concept of a stablecoin gave rise to the use of various other tokens, such as USDT, USDC, BUSD, and DAI, as well as the demand to trade between these different tokens. Ellipsis is a platform that enables stable swapping.

In this blog post, we will learn about what Ellipsis is, how it works, its history, and how to buy EPX tokens.

What Is Ellipsis (EPX)?

In 2021, Ellipsis.finance was launched to exchange stablecoins based on the BNB smart chain. It makes exchanging currencies in a controlled environment with minimal slippage and only a small cost possible. They are devoted to the fundamental ideals that Curve stands for, which are:

  1. there are no costs associated with deposits or withdrawals
  2. there are no lockups on liquidity, and…
  3. stablecoin swaps are carried out in an exceptionally effective manner.

EPX is Ellipsis's native token, and it may be used for various purposes, including governance, mining for liquidity, and reducing transaction fees. In addition, it offers incentives to users that contribute liquidity to the platform and take part in the platform's growth.

History of Ellipsis (EPX)

Ellipsis was released in 2021 as an authorized fork of the Curve Finance protocol. It enabled users to deposit tokens into liquidity pools in exchange for rewards.

Every blockchain-based network needs its cryptocurrency, and technically speaking, Ellipsis has two different ones. EPS was the name of the system's token when it was first released; however, migration took place to a new form of the token, EPX, at an exchange rate of 88 EPX to one EPS. 

It is important to note that the founders of Ellipsis have yet to be publicly identified. Even though this frequently happens in the world of DEXs, it should still give any investor who wishes to hold someone accountable in high regard a pause for thinking.

It is also essential to know that the DEX levies a fee whenever one cryptocurrency is exchanged for another. This is the case for every transaction. The liquidity providers and the EPX stakers each receive an equal share of these fees. 

Is EPX Coin a Good Investment?

Since the beginning, a significant number of industry professionals and investors have held the opinion that Ellipsis is a fantastic investment. The value, to everyone's surprise, went up. As a result, there is no reason to doubt that the investment will result in a satisfactory return.

The first time EPS was available to the general public was in the spring of 2021. It was possibly a good moment to create a cryptocurrency because the market was extremely buoyant in the wake of an upturn induced, at least in part, by the United States Covid-19 stimulus checks finding their way into the cryptocurrency space. 

The newly introduced cryptocurrency benefited from the excitement surrounding anything to do with blockchain, and on March 24, 2021, it reached an all-time high price of $21.29. Although the token sank to approximately $2.50 the next day, some recovery in early April saw EPS hit highs of more than $6.90. The market viewed it to be rather expensive. Thus it was inevitable that there would be some sort of depreciation.

After that, however, there was a decline, and things got even worse after the significant crypto market meltdown on May 19th, 2021. The token and the market spent the summer in the doldrums, with the token briefly trading for less than $0.40 at one point in the middle of July. 

Because of the extreme volatility and unpredictability of the market, new cryptocurrency investors should always DYOR (Do Your Own Research) before making any financial commitments. 

In addition, it is essential to have a robust risk management strategy in place, which should include implementing stop-loss orders, diversifying investments, and allocating no more capital than the individual can afford to lose. By following these measures, investors can reduce their risk exposure and improve their chances of success in cryptocurrency trading.

How to Buy EPX Coins?

CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including EPX, users can now trade easily and seamlessly. Here's a guide on how to buy EPX on CoinEx.

  1. To access CoinEx's services, register for an account by clicking "Register". Existing users can log in.
  2. After logging in, deposit funds into your CoinEx account using one of the supported cryptocurrencies or deposit methods supported by the exchange.
  3. After depositing fiat or cryptocurrency, go to the EPX trading page, choose a trading pair, and specify the amount of EPX to purchase.
  4. To buy EPX tokens, choose the appropriate trading pair, specify the desired quantity of EPX, and trade the paired token for EPX.

EPX FAQs

What's the market cap of EPX coins?

The total market cap of EPX coins is around $45.40M.

How many EPX coins are there?

The total supply of EPX coins is 132.00B. The circulating supply is 5.36M.

Will EPX coin price reach $1?

Currently, it’s trading at 0.0003453 USD. The predicted high for EPX in 2026 is $1.11. If the market turns bullish, the floor price might rise to $0.97.

Prev
The Eve of an Application Surge: A Review of the Current Development of Web3
Next
What Is MDEX and How to Buy MDX?