TenX first day on Bittrex

In the first few hours it was all over the place 0.0075 to 0.0035 of an ETH. From my calculations if you were in on the ICO youd get 350(plus bonus 20% so another 70) for each ETH. This means its ICO price was 1/420 = 0.00238 ETH/per token; this means that those people who got into the ICO doubled their money and a bit (at the moment 0.0049 ETH).

However this token was trading (on hitbtc) as high as 0.27 of an ETH. When trading opened on Bittrex the price on hitbtc fell down to 0.033 still multiples of price on Bittrex and since then there dont seem to have more trades.

In US dollar terms a TENX token represents $1.20 on Bittrex.

Coin having doubled from ICO price seems reasonable since june 24th (I think that was the date), but going up more than 100 times is a bit of a fantasy.

However I do think the coin will do well in the longer run. Which is why I bought a tiny amount just in case it does.

Lesson learnt from all of this is don't expect to multiply your investment 100 times in a few day. Even if it was only 20 % its great because you did that in a few days/weeks while on the stock market people cant get those earnings in a couple of years of investing. Dont be too greedy.

Source of image: www.tokenguide.com

@irfo1 Upvote, Resteem and Follow