Key Takeaways:
- AntNetworX will launch its AntXWallet at 20:00 UTC on Mar 8.
- ANTX token might jump on the news.
- The project has not yet proven its legitimacy.
YEREVAN (CoinChapter.com) – AntNetworX token ANTX jumped 3% on Mar 8 to reach $0.008 in the European session after a choppy performance month-to-date. The token could jump more after the AntXWallet Public Beta release at 20:00 UTC later today.
However, before traders jump into trusting yet another potentially short-lived project, it pays to investigate what AntNetworX is and what it stands for.
Is AntNetworX a legit project?
The first observation about the project is its name, which is strikingly similar to Ant Network, another crypto platform. However, the projects are unrelated.
While neither of the projects inspires much confidence, Ant Network is a mobile mining platform, while AntNetworX claims to be a “decentralized network that aims to build a suite of scalable, user-friendly dApps and real-life utilities that will expedite global crypto adoption.”
AntNetworX whitepaper claims that the AntXWallet will radically reduce gas fees and provide its clients with faster transactions, an assumption that crypto traders had heard from multiple projects before AntNetworX came along.
The AntXWallet is seeking to achieve gasless transactions for a wide range of transfer types. Where this is not possible, gas fees will be radically smaller than those incurred by rival wallets – with an option to pay in the AntX native currency.
reads the whitepaper.
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The wallet also offers an option to link it to social accounts, such as Facebook or Google, for easier retrieval of information. However, more convenience in the crypto sphere might have the usual flip side of less control. Thus, traders should consider the “easy” option before opting to give up their sovereignty for convenience.
ANTX registered 3000% profit in 5 months
The project’s credibility remains a question. Nonetheless, the ANTX token’s lowest price was $0.00025, recorded on Oct 16, 2022. Comparatively, the current price is over 3,000% higher than the all-time low, according to CoinGecko.
Meanwhile, AntNetworX collaborated with Shiba Inu’s Shibarium as the project announced on Feb 28.
Also read: MASK token risks a plunge to zero after a whale withdrawal took the coin 33% higher.
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