PIVX has seen a 3.78% price increase over the past 24 hours of trading. The cryptocurrency is currently trading at $1.25 per token after seeing a further 1.97% price increase over the past 7 trading days.
PIVX is a cryptocurrency dedicated to upholding privacy for its users. PIVX stands for Private Instant Verified Transactions. It is a Proof-of-Stake cryptocurrency that was forked from Dash in January 2016, and can boast instant transactions that are both faster and cheaper.
PIVX runs on community governance which allows coin holders to have a say on network proposals. The network is governed by master nodes who maintain the network and receive a reward for their efforts. To own a Masternode, a user must lock away 10,000 PIVX tokens to be staked within the network.
For more information on masternodes we recommend you check out our article “5 Masternodes Coins For Earning Passive Income.”
PIVX is currently ranked 98t according to CoinMarketCap, in terms of overall market cap across the entire industry. The 31-month old coin has a total market cap value of $70 million after suffering a declining price this year.
Let us continue to analyze PIVX over the long term to gauge an outlook on the market.PIVX Price Analysis PIVX/USD – LONG TERM – DAILY CHART
Analyzing the market from the long-term perspective above, we can see that price action had experienced an incredible bullish run throughout 2017, rising from a low around $0.011 in February 2017 to a high of $15.69 on December 26 2017. This was over a 9,000% increase in price from low to high.
After price action placed the all-time high, we can see that the market rolled over and started to decline rapidly. It had originally found support around the .618 Fibonacci Retracement level priced at $5.36 in February 2018 and proceeded to rally, but failed to break back above the 100-day moving average and continued further lower.
After finding support at the .7...