The cryptocurrency market had a bloody week in which Bitcoin and altcoins plunged to halves or more.

The total market value has fallen by more than 86 billion dollars, and it is estimated at the time of writing this topic at 150 billion dollars.

But despite the difficult week for all digital currencies as well as other financial markets, a currency that deviated from the prevailing trend and rose by more than 65%.

The currency of our topic is the IPX coin of the Tachyon protocol.

The cryptocurrency was newly launched on the cryptocurrency exchange HitBTC on February 25, 2020, and things in the market back then were very similar to what they are now.

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To lose this coin when it was first listed on the platform 12.56%.

But the IPX coin rebounded with the entry of March, rising from $0.054 to $0.092.

Counter-moves have helped IPX become one of the most profitable cryptocurrencies, outperforming even the leading US stock index markets that have plunged to record lows amid the escalating coronavirus outbreak.

IPX coin is trading against the dollar at $0.084 at the time of writing, an increase of about 65% on the monthly time frame.

This payment helped the pair enter the top 150 cryptocurrencies by total market capitalization on the CoinMarketCap.

Reasons for the rise of the currency:

IPX’s overall gains caused a string of mounting news, starting with its inclusion on HitBTC and Bithumb, two of the world’s largest cryptocurrency exchanges.

The upside movement has also taken its starting point with the launch of the first decentralized Tachyon Protocol product and a practical implementation of a Virtual Private Network (VPN).

The app uses the Tachyon blockchain technology dubbed “Tachyon VPN” to make the internet more secure and private.

The project is improving the TCP/IP protocol by removing centralized P2P servers.

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So instead of relying on VPN services that risk lowering security due to their insecure tunnels, users can choose Tachyon which chooses distributed nodes to provide services to each other.

Meanwhile, IPX becomes a reward token which makes the token gain rating and value.

Traders may view IPX as a bullish asset based on its participation in a growth-based business model.

Which explains why the currency outperformed its competitors and even against the gloomy view of the market due to the Corona epidemic.

IPX Technical Outlook:

Tachyon’s IPX is a very new asset, which means that it lacks enough historical references that you can anticipate its price patterns in the near future.

Currently, the cryptocurrency is more volatile and its trading volume is low, which makes it a dangerous currency that can be controlled by large whales.

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As shown in the chart above, the IPX coin has seen significant fluctuations in its value as it has undergone several pumps and dumps, but the overall trend has been an uptrend.

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