What is Coinex Smart Chain (CET) ?
Launched in June 2021 by the team from Coinex Exchange, Coinex Smart Chain is a decentralized open-source blockchain with smart contract functionality. CET is the platform’s native cryptocurrency, and coinex smart chain is one of the fastest EVM blockchain platforms.
Bitcoin and CET can both be used as digital currencies as well as a store of value. But there is something that makes the coinex smart chain even more special, namely the features that allow developers to build and run decentralized applications and smart contracts. Coinex smart chain being a blockchain based software network, therefore has interesting use cases in various industries; gaming, music, entertainment and decentralized finance (DeFi) .
Before diving into what 2022 will look like for the Coinex Smart Chain and whether or not CET will be a good investment, let’s have a quick recap of what 2021 will be like for the CSC (coinex smart chain).
Coinex Smart Chain (CSC) Recap in 2021
The year 2021 was a brilliant year for the coinex smart chain, since it was launched in June 2021, the native CET coin has experienced a very significant increase, even CET’s performance is better than some of the Top 30 coins on coinmarketcap. The increase was triggered because CET is not only a cryptocurrency, but is a home for decentralized applications and acts as a high-performance smart contract platform.
Throughout December 2018 to January 2021, CET was only worth (range/average) $0.01x, but after news emerged that the Coinx Smart Chain mainet would be launched in June 2021, the price of CET rose dramatically to $0.15 (ATH) and then experienced a correction. to an average of $0.085x through December 2021.
January 2022 became the month that brought down all coins in the world, all coins and tokens began to drop drastically, even that happened to Bitcoin, this caused all coins to experience a correction, as well as CET coin which is currently worth (range) $0.045, the price this is still fairly good, because the price is 4x more expensive in 2018-2020. While other coins and tokens have fallen by up to 70%, CET is still holding good prices, above 2018-2020 prices.
Why You Should Invest in (CET) Coinex Smart Chain this Year (2022)?
There are several things you should know, why you should take CET into your investment portfolio.
- Coinex smart chain is not just a cryptocurrency coin, it is a smart contract platform that is home to decentralized applications. When more Dapps are built on top of the coinex smart chain, this will trigger massive purchases of CET coins, and will increase the price of CET. Coin CET is used to pay for transactions on the coinex smart chain blockchain, and is used to be the default pair or liquidity on DEX exchanges. Just like in the binance chain blockchain, developers and users will prefer to store CET coins to transact on the coinex smart chain blockchain
- Good price performance, although currently undergoing a correction, but this is triggered by Bitcoin which is experiencing bearish, this makes almost all altcoins experience a decline. Cet will shine again when bitcoin returns to price (2021), maybe if it does, CET will surpass new ATH. The current CET price is still fairly good, because it still provides 4x the profit from the 2018-2020 price.
- Currently the native CET coin is listed on 3 exchanges (2 CEX exchanges, 1 Dex Exchange). Even though it’s only been listed on 3 exchanges, the CET coin has a very good performace.
- When CET is listed on many exchanges, it will definitely experience a significant price increase, because when CET is listed on many exchanges, it will increase the volume and increase the number of requests, this will trigger a CET price increase.
- Coinex smart chain uses the POS protocol, which will trigger an increase in the demand for CET coins in the market, why is this happening? because the POS protocol requires a validator to validate transactions on the blockchain, while to become a validator one must hold a minimum of 10,000 CET coins. Just imagine when in the future there are thousands of validators who join the coinex smart chain network, more CET coins will be locked and the demand for CET coins will increase, this will trigger an increase in CET prices.
- Coinex smart chain is still very young, the mainnet CSC coinex smart chain is only 11 months old, this is just the beginning. in the future when more Dapps join coinex, it will improve the ecosystem and increase CET trading volume, this will certainly benefit us who enter or invest in CET coins in 2022.
- Burn CET coin, Coinex Exchange has a commitment to burn CET coin every month, to reduce the supply of CET coins on the network, this also happens in the binance chain. You certainly know, if the coin is burned regularly, it will increase the price of the coin.
The future of the coinex smart chain is very bright, because this is just the beginning, when marketing is improved and the CSC community grows, it will improve the ecosystem in the coinex smart chain network, many developers will come to CSC and place their Dapps on the coinex smart chain network, because CSC also be a solution to the problems experienced in other blockchains, such as high gas fees, slow transaction confirmation, not environmentally friendly, not decentralized. Coinex smart chain is able to overcome these problems with the POS protocol, confirmation time is only 3 seconds, high security and really decentralized, and there are still many advantages that Coinex has.