What Are “Xs” in Cryptocurrency and How to Get Them

Author & Guarantor: Elena Yefimenko

To get high returns, investors invest in tokens early in their development. How does this happen and where can you find promising digital coins?

Source: istock.com

One can often hear the expression “make x” from crypto investors. This is the name for making a big profit as a result of the multiple growth of an asset. For example, over the past three years, bitcoin has risen in price more than three times (from $ 10 thousand to $ 31 thousand). Investors who bought the coin in June 2019 were able to triple their deposit, that is, earn x3 profits.

It is not necessary to wait a year or more to “x”. From January to May 2021, Dogecoin has risen in price by 182 times (from $ 0.004 to $ 0.73). In the middle of last month, altcoin quotes went down. As of June 22, the digital coin is trading at $ 0.20, or 70% below its all-time high.

There are cases when assets almost instantly showed X’s. In early June, the Automata token was listed on the Binance crypto exchange. After that, the price of the digital coin skyrocketed by 12,350%, to an all-time high of $ 4.5. Then the Automata rate began to decline. The token is currently trading at $ 0.59.

Often, the Xs show exactly new coins that are just entering the crypto market. ICOs, IEOs and IDOs are commonly used to invest in tokens in the early stages.

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