Proprivex To Launch Crypto Asset Management Service As Ethereum Completes Final Merge Testing

Proprivex (PPX) is the latest addition to crypto asset management, however, is one of the first platforms aimed toward retail users alongside high-net-worth individuals and institutions. The team is releasing a platform that will be easy to use through its innovative UI and aid in bridging the gap for investors who do not have time in their daily lives to stay up to date with all the latest crypto news. 

To subscribe to Proprivex the company will accept deposits through its native token PPX which is currently undergoing its presale, but in some cases will accept other cryptocurrencies. For those who do use PPX, investors will be eligible for discounts on its service and also become a member of its DAO where other reward schemes will be rolled out. 

What we like about Proprivex is it is looking to appeal to the many rather than the few and enable an affordable service for top-tier asset managers within the crypto ecosystem. The service is also tailored to you and can choose between a range of day, swing, or long-term trading packages alongside allowing the manager of your portfolio to have a certain level of discretion over how to allocate funds and services. 

With the crypto market turning a corner and bouncing back and investment soaring back in now is as good a time as any to put your assets back into crypto. 

Ethereum Merge Testing Complete 

It was announced yesterday that the final testing stages for the Ethereum Merge had been complete and were labelled a success. This comes as the price of Ethereum (ETH) has been skyrocketing amidst the eagerly anticipated launch of the switch to POS (Proof-Of-Stake) from POW (Proof-Of-Work). 

However, although the testing has been successful and the merge has been taken well by most of the community, outside of the ETH miners, there is still a great amount of speculation about what will become of Ethereum, particularly in the short run. 

How The Market Is Responding  

The market’s response to this has been intriguing and one where many institutions are hedging their bets. While there has been an overwhelming influx of investment within the spot market for ETH, the futures market is riddled with shorts in the anticipation that the uncertainty of the merge will cause volatility, and if a turbulent merger occurs then many may exit their positions in the short run. 

While investing in the futures market is inherently risky, opening up long positions in the spot market but short positions in the futures market opens the possibility of price manipulation. For example, if some of the largest hedge funds have long positions on ETH but are short in the futures market it is beneficial for them all to dump the stock in one go to try and shock the market and tank the price. 

This will earn the institutions a profit on their investment in the spot market and then a realisation of their future short prediction. For this to happen certain dominos need to fall into place, but if many institutions are employing the same tactic and dump the price across a similar time frame it could cause the price of ETH to fall dramatically. 

Nevertheless, a strong and seamless merger could debunk the potential thesis or other hedge funds betting long within the futures market. Either way, the long-term potential for Ethereum looks strong and many expect it to continually increase across the next few years. 

Proprivex Token (PPX) 

Presale: http://prop.proprivex.io/  

Website: http://proprivex.io/  

Telegram: https://t.me/ProprivexTokenOfficial  

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Rate This Article
In order to improve, we give you the opportunity to rate DailyCoin content
Author

Read the most recent crypto press releases on DailyCoin to know all the latest project news from fintech and blockchain businesses. Disclaimer: This article is a press release and was not written by DailyCoin. We always aim to have the highest editorial and fact-checking standards, so if you encounter any content related issues, please contact us at [email protected]