Centcex price prediction: What is Centcex (CENX)?
Will Centcex’s new development partnership with Bitgert spell a promising future?
- Centcex explained
- From the Centcex whitepaper
- Centcex price history
- Centcex price forecast
- Closing comments
Centcex is an upcoming cryptocurrency that will support a decentralised exchange. What is centcex (CENX)? How does centcex work? What is centcex used for? What is the latest centcex price prediction? Read on to find out.
Centcex aims to create a system that combines the security of a centralised exchange with the flexibility of a decentralised one. It is important not to confuse the two. Centcex was set up in 2021 by a team of six people, led by Dominick Rodgers, who had previously started the bitgert cryptocurrency. Its ticker, CENX, is shared with centralex, a token based on the Ethereum blockchain.
The world of cryptocurrency is, ultimately, based on the concept of decentralised finance. The idea behind decentralised finance, or DeFi for short, is that there are a great many people throughout the world who do not have a bank account and so are left out of the world of traditional, centralised finance.
However, many of these so-called ‘unbanked’ do have access to the internet, via a mobile phone. DeFi, at the core of things, is something that would allow these people access to financial services, and it is basically what crypto is all about.
Cryptocurrencies are traded on exchanges. Many exchanges are, ultimately, decentralised. This can prove to be an ideological issue for some advocates of DeFi. Because traditional crypto exchanges are centralised and thus hierarchical, someone or something will be responsible for the important decisions, such as whether to deal with a particular crypto.
A DeFi advocate might argue that people should be able to buy whatever coins and tokens they want, and not have to worry about who is stocking them. This, in turn, leads to the idea of the decentralised exchange, or dex. This is, in effect, an exchange that keeps people’s information private but is open to trading whatever commodity users want to trade.
Centcex is a decentralised exchange, and CENX is its native token. As well as the Centcex Exchange, there is also something called Centcex Labs, which develops software and apps. CENX is used for staking and both paying and receiving fees on the network.
From the Centcex whitepaper
The Centcex roadmap document, originally published in October 2021, describes the Centcex network as having three, non-discrete departments to tackle issues in crypto today including Staking, Labs and an Exchange.
The whitepaper describes the raison d’etre of the native token: “We believe that having a utility token that powers all of our products and services brings credibility, agility, accountability and independence to our users. It strengthens our relationship with our community and enables dynamic partnership deals. All transactions carried out in the portfolio of apps go through the centcex token, directly or indirectly. Centcex is the link between our users and the products and services in the portfolio.”
Centcex price history
While prior performance is no indicator of future results, a look at the centcex price history can still be useful, as knowing how the coin has behaved can give some context for a centcex price prediction.
There is another important caveat here. Centcex is yet to trade on the open market, which means that there is no market cap yet, nor are there any tokens in general circulation. There is, however, a stated maximum supply of 10 billion tokens.
A private sale is currently under way, with the coin’s website suggesting the crypto should have been on the open market in January 2022. We have asked Centcex about this, but have not received a reply.
Centcex began trading in November 2021. On 19 November, it started trading privately at $0.001974 before rocketing up to $0.003691, which still serves as the crypto’s all-time high. The price then fell. Part of this would have been due to the usual volatility that hits new cryptos, and it would also have reflected a slump in the market due to uncertainty about the omicron variant of Covid-19. By the end of November, the price was down to $0.001541.
On 21 December, it fell to an intraday low of $0.0006623, the all-time low for the token. There was, however, some recovery soon after, and it closed both the month and 2021 at $0.001154.
January initially saw some positivity in the limited market around Centcex, with the token getting to an intraday high of $0.002548 on 13 January. There was, though, another slump after this, and CENX was trading at around $0.00149 as of 20 January.
The coin closed the month of January at $0.001203 and continued trading below the initial launch price until March.
Some positive price action was witnessed as the token approached the beginning of Q2 2022, roughly in line with the broader crypto market sentiment. On 4 March, the price shot up and by 10 March, the coin was trading at $0.00753647, a new all-time high.
However, since then the price has retreated, trading at lows of $0.001581 on 2 May. At the time of writing, CENX was trading up at $0.001986, hot on the heels of the announcement that Bitgert will be partnering with Centcex.
Centcex price forecast
Predictions, especially when it comes to longer-term ones and even more so when it comes to something as volatile as cryptocurrency, are often wrong. You should also note that longer-term crypto forecasts are made using an algorithm, which can change at any time. Because of how new centcex is, there are not as many price forecasts for the token as there would be for more established cryptocurrencies.
PricePrediction.net has a centcex coin price prediction for 2022 that says the average price of centcex will be $0.007, going up to $0.010 in 2023 and $0.016 in 2024. The site makes a CENX price prediction which suggests that the token will get to around $0.023 in 2025 before reaching $0.032 in 2026. The site also gives a centcex price prediction for 2030 which sees it trading at an average of $0.16, while it should get to around $0.23 in 2031.
TechNewsLeader’s CENX forecast is not too dissimilar to PricePrediction.net’s, with a price of $0.008 in 2022, $0.012 in 2023, $0.017 in 2024, and a centcex price prediction for 2025 of $0.025, with one of $0.038 in 2026. As time goes on, though, the predictions start to diverge a little, with the 2027 forecast coming in at $0.057 and 2028’s target being $0.084.
In 2029, the site says, centcex should be worth around $0.12 before starting the next decade around $0.17 and going up to $0.24 in 2031. Whether either of these sets of predictions will be accurate or both be wrong remains to be seen.
DigitalCoinPrice has a centcex price prediction for 2022 that sees it could reach $0.00275 as soon as June, representing an upswing of almost 40%. The site also forecasts reaching an average of $0.00294 in 2023. The coin will remain flat, hitting $0.00293 in 2024 before growing to $0.00389 in 2025.
DigitalCoinPrice thinks there will then be a dip in 2026, with CENX falling down to trade at $0.00342 before making a comeback in 2027 with the price rising to $0.00469. The overall rate of growth will be positive, with it getting to $0.00629 in 2028 and reaching $0.00814 in 2029. While the forecast is positive, it is a bit more cautious than the previous examples.
Finally, WalletInvestor predicts that CENX will rise to $0.00781 in one year’s time, hitting $0.0294 in five years’ time. Again, this is an optimistic forecast, but by no means the most positive of the few that are out there.
Centcex is a very new cryptocurrency, so it is entirely possible that it is yet to find its natural trading level. Ultimately, where it is now could seem far too high or far too low as we go forward, and there is no way of knowing for sure which it will be, nor if there will be any significant change to the level it operates at.
The other thing to point out is there are a great many decentralised exchanges out there, so whether Centcex has got what it takes to stand out is a bit of a moot point. That’s not to say that it cannot thrive over time, but it will need to attract a lot of attention from other similar dexes to allow the price of centcex to really blossom.
We will also have to see if and when the coin comes into general circulation, and how that will affect the price of CENX.
Although there were no CENX coins in open circulation as of 5 May 2022, there is a maximum supply of 10 billion centcex coins.
It is hard to tell. The coin is still very new, and has not started trading on the open market yet. Nevertheless, the forecasts are, at this stage, positive. We will have to see what happens when the presale is over.
Regardless, you will have to do your own research, remember prices can go down as well as up, and never invest more money than you can afford to lose.
It could do. Equally, though, it could get lost in the mix of crypto, even if a number of predictions are bullish. You will have to do your research, remember prices can go down as well as up, and never invest more money than you can afford to lose.
This is entirely a matter for you to decide. Before the coin hits the open market, you will need to do your own research, both of CENX and other dex-related tokens. Cryptocurrencies can be highly volatile and prices can go down as well as up. Never invest more money than you can afford to lose.