But, what is CLX Worth?

CryptoLux (reviewed here) recently announced that its coin, CLX, is now listed on Coinex Market, www.coinexmarket.io.  This is the second exchange where it is listed.  In our News Commentary #478, published on July 19, we reported that CLX was listed on the first exchange, the www.getbtc.org exchange.  I’ll come back to all this in a minute.  But first, here is the recent announcement from CryptoLux:

CLX Now Listed on Coinex Market

As promised before we are happy to inform you about our second external exchange. All tests and implementations for the inclusion of CLX coins were made. Each user can now transfer and sell his CLX from now on at COINEX MARKET.

We know the market situation is very difficult at this time. Nevertheless, we are in good spirits. We want to thank you for your support and patience. Share this big news with your team.

We are looking forward for great times coming up!

In News Commentary #478, we referred to www.getbtc.org to determine the value of CLX at that time and discovered that it was roughly $.075.  We also promised that we would check back with that exchange later on to see how the value of CLX changes in the future.  The announcement that CLX is listed on a second exchange reminded me that I hadn’t done this, so I have decided to do it at this time.

As was the case back in July, there still isn’t very much trading activity with CLX.  As I write this, according to www.getbtc.org, it looks like the BTC/CLX pair is trading at somewhere between 1,000,000 and 2,000,000 CLX.  This is a huge range.  But, let’s give CLX the benefit of the doubt and say that it is around 1,000,000.  BTC/USD is somewhere around $6,300.  So, if you divide 6,300 by 1,000,000, you get that CLX is now worth around $.0063.  This is down significantly from the $.075 that we reported in News Commentary #478 and you might quickly conclude that CLX is worthless.  However, in fairness to CryptoLux, CLX really isn’t traded enough to get an accurate feel for its value.  CryptoLux is aware of this, of course, and this may be the reason they stated in their announcement that “We know the market situation is very difficult at this time” which I take as sort of an apology for the poor performance of CLX right now.

I confess that I did not check out the value of CLX on the www.coinexmarket.io website simply because a person has to register in order to get access to trading information from it.

The most important part of the CryptoLux announcement is that CLX is becoming more widely recognized.  We can only hope that, as the months go by, it will become more and more valuable.

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