IMPT, the native token that will power the soon-to-be-released, revolutionary blockchain-based carbon credit trading/carbon offset platform IMPT.io, was last trading around 4% lower on Wednesday, despite being listed on a new cryptocurrency exchange, a development which typically boosts demand and prices.
IMPT/USD was last changing hands on Uniswap at around $0.017 per token, up over 10% from Tuesday’s sub-$0.01550 lows but down nearly 25% from recent highs in the $0.0225 area.
IMPT’s underperformance despite the broader slow feel to cryptocurrency market trade amid year-end low volumes is likely to do with the fact that the cryptocurrency broke below a short-term upwards trend channel, triggering a bout of technical selling.
IMPT.io’s token launched on the cryptocurrency exchange BitMart on Wednesday the 28th of December, exposing the token to a fresh cryptocurrency trader/user base. Users can trade IMPT on BitMart here.
IMPT will next be listed on the Gate.io exchange on the 1st of January alongside a $100,000 IMPT token airdrop that is likely to generate significant hype.
The token’s first exchange token offering happened a few weeks ago on the LBANK cryptocurrency exchange. Users can trade the token on LBANK here.
In the short term, IMPT appears to be at a crossroads given that it recently formed a pennant structure, which could result in either a bullish or bearish breakout. A bullish breakout could see the cryptocurrency quickly surge to test recent highs in the $0.02250 area, while a bearish breakout could open the door to a possible rapid drop back towards $0.012.
But with positive updates on the IMPT’s development progress expected soon, and the token to be listed on more exchanges in the coming days, potentially further boosting its demand, any dip back towards $0.012 could be met with significant dip-buying demand.
IMPT.io is a blockchain-based carbon credit trading platform that is designed to make it easier for businesses and consumers to offset their carbon footprint. Users acquire carbon credits by accumulating IMPT tokens, which then they then convert into carbon credits that are issued as non-fungible tokens (NFTs). Users can then hold onto these carbon credit NFTs, trade them on IMPTs marketplace, or burn them, in which case they will receive a new NFT with unique artwork.
But IMPT.io is much more than just a carbon credit marketplace. The project seeks to incentivize consumers to engage in “responsible shopping” with environmentally-conscious brands. Users will be able to shop on the websites of the more than 10,000 brands that have committed to the IMPT.io project and gain IMPT tokens from each purchase via an online widget.
Meanwhile, IMPT.io has an inbuilt mechanism to encourage users, be that individuals or businesses, to accumulate and burn carbon credit NFTs. The platform gives users an IMPT.io score, which goes up each time a user shops and accumulates IMPT tokens, refers new users to the platform, or gets and retires NFT carbon credit NFTs. Business owners can integrate the IMPT.io platform into their stores, which will also boost their scores.
Investors wary of new crypto projects should note that IMPT.io’s founding team has been Know Your Customer (KYC) verified by CoinSniper and the project has undergone a full security audit by Hacken. CoinSniper and Hacken are both widely respected firms known to only greenlight legitimate crypto projects.
Visit IMPT Now
According to an update from IMPT.io’s CEO a week and a half ago, the blockchain-based carbon credit trading platform is set to publish its first screenshots of Use Case 1, as well as release further information ahead of the platform’s plans to go live in February. IMPT.io will also be releasing a list of the top 500 affiliate brands, as well as its latest additions, later this week. Finally, IMPT’s token will be listed on the Changelly Pro cryptocurrency exchange later this week.
New screenshots and information about the project ahead of its launch in February are likely to boost hype around the project, IMPT bulls hope, with some predicting that the cryptocurrency could soon blast past its post-ICO record high in the $0.025 area.
Visit IMPT Now
A quick 3min read about today's crypto news!
Related Posts
