A mobile banking altcoin project has skyrocketed in the past seven days amid the rollout of a new token strategy and ahead of an upcoming update.

MinePlex (PLEX) peaked at $0.309 this week from a low of $0.109 on January 8th, marking gains of over 183% in just seven days.

The 267th-ranked crypto asset by market cap is up more than 18% in the past 24 hours alone.

The MinePlex blockchain is a mobile crypto bank utilizing two native tokens. PLEX is the payment and asset token, while MINE is the system’s fixed-value token. MinePlex awards users rewards in PLEX tokens, which can be converted to USDT or MINE on the app for staking.

MinePlex says the company’s new strategy has driven up PLEX’s price.

“We have launched a new economic model of MINE and PLEX tokens, which allows us to increase the demand and reduce the supply of PLEX. This is reflected in the price of tokens.

The mood of MinePlex users is also fueled by the upcoming halving, when the PLEX emission will be halved.

In the next four months, the updated MinePlex.Finance will be released – your mobile bank account in euros, dollars and PLEX.”

Despite the price increases this week, PLEX still remains down more than 87% from its all-time high of $2.45, which it hit in November 2021.

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