LCX has had a big run up this week seeing it's price surge up by fifty percent. Of course all the Lichtensteinians were surely overjoyed but it has left the rest of us to wonder, is there another leg up in the near future for this new exchange token? To find out let's first take a few steps back and dive in to what LCX is and does. LCX is short for Liechtenstein Cryptoassets Exchange. It is a cryptocurrency exchange based in Liechtenstein that allows users to buy and sell a variety of cryptocurrencies. The platform offers trading in a range of pairs, including Bitcoin, Ethereum, and LCX's own token, LCX Token (LCX). In addition to its exchange services, LCX also offers a range of other products and services for the cryptocurrency and blockchain industry, including a cryptocurrency bank, a digital asset fund, and a blockchain-based platform for conducting initial coin offerings (ICOs)
With a current market cap of 40 million, I think it is fair to presume that this coin definitely has some legs on it. I think a 10x over the course of the next year or two is a modest goal, but let's not kid ourselves that we have that kind of patience we want gems now not ten years from now! So is it a short term win? I would say that it is possibly a short term win, but the market doesn't seem quite sold on the value proposition. The founder of LCX has poised the company as being well regulated and has established that due to Lichtensteins lax laws regarding finance and recent (2020) legislative embrace of the crypto industry Lcx.com as an exchange could come out as a very stable exchange with government support.
The rub is this. Lichtenstein embraces crypto, that is great. However Lichtenstein is a land locked country surrounded by what? The EU, one of the most heavily restrictive economic zones In the crypto space. So does LCX have free reign to do what it wants in Lichtenstein (A village-sized country)? Yes, but all of the neighbors that would love to seize upon the opportunity to trade crypto with such loose oversight don't just face a potential backlash from their respective governments of origin but in fact we have already seen countries such as Germany threatening companies with a similar Lichtensteinian business arrangement with lawsuit over the attempt to operate in their countries.
Furthermore the appetite for shady half regulated crypto exchanges is likely at an all time low with the recent SBF fiasco that had nuked the crypto market into oblivion. With all that being said, I'm gonna have to say LCX is lab diamond material - is it shiny; Yes, is this the one that will get you out of your Mcdonald's gig? Not today my friend, Not today.
