It’s easy to get used to rising prices. Especially when each rise in price means that one’s assets are worth more.
However, price corrections are healthy. For example, they allow new participants in the crypto markets to purchase ether (ETH) at a lower dollar price.
Just a few weeks ago, one ETH cost almost $400. Currently, it’s trading near $270. What that means is that $1,000 would have purchased only 2.5 ETH before, but now the same $1,000 fetches almost 4 ETH.
And we need to remember that the CDX token has a fixed exchange rate relative to ETH.
A few weeks ago that exchange rate was set at 1 ETH = 3,000 CDX. Since back then 1 ETH cost $400, we can extrapolate a dollar price per CDX token purchased back then. It works out to $400 / 3,000 = $0.13. Meaning that a few weeks ago 1 CDX token cost approximately $0.13.
Today, the fixed exchange rate is set at 1 ETH = 2,250 CDX. While that exchange rate is less favorable, we need to take into account that the price of ETH has fallen considerably to $270. Let’s calculate the current dollar price per CDX token. Now it is $270 / 2,250 = $0.12.
What this means that while the CDX to ETH exchange rate was more favorable a few weeks ago, currently the dollar price of a CDX token is 10% cheaper.
Let’s put it another way — for the same $1,000 you can purchase today 10% more CDX tokens than in the pre-sale!
This is the beauty of market corrections. You can get stuff cheaper, if you think about it for a minute.
Now is the time to support our project as this correction might not last too long…