Why BTMX token is surging lately?

[bisdak40]

Bought a few BTMX tokens almost two years ago and left it in the exchange because i thought it is dead as there is not much movement after a few months.

Few days ago, i open my account on that exchange and surprised to see my holdings gone up 4x.

Anyone knows the reason behind the pump?

Please also note that i'm not promoting this token, just wondering on why the pump happened. 

[Stedsm]

If you'd have noticed just one simple thing, you'd not have asked this. The fact that all the coins (including most shitcoins) are pumping nowadays is because there's a huge load of money that's interested to get in, and when this "loads of money" can't buy BTC just because the supply gets eaten up by institutional investors, retailers are now moving back to old school and playing various tactics to let others too get involved under the "FOMO" effect. As well, if I'm not wrong, this is BitMax's own token right? When even some worthless swap tokens (not all of them but a few ones) are gaining traction and pumping like hell, why would an exchange's own token rise during this bull run? Also, they've rebranded themselves to Ascendex and how are your holdings up just 4x when the price has almost done over 50x?

[lobo13hf]

People are in demand owning the exchange token as they can take various benefits from their tokens started from the trading fees, participated in the IEO that will be launched on bitmax, staking and many more.
As far as i can see that if it's not only BTMX but almost all of the exchange token except the tokens from the garbage exchange sites were getting huge increase too.

You can also see how binance was increasing more than 10x due to the very high demand and its usability.
The same reasons also applied to the BTMX too. I have owned a few thousands of BTMX and it turns into a lot of money right now. 

[TunchikV]

BTMX token is not an only one token that suddenly revived after a long slumber. Dent, Arcona, Dock tokens that I thought are also dead suddenly revived not so much like your BTMX token but still I was very surprised by their growth. Maybe this situation is common with many other tokens. Maybe the reason is simple: investors have got some extra money and decided to use them to promote their beloved tokens.

[SyndicateLabs]

But I am wondering to myself that there are many people still holding these coins, there are many old coins that have revived and have crazy growth over the pastime. But now people will be more interested in new attractive projects from DEFI, BSC, NFT,... than returning to old coins.

[bisdak40]

~snip~
Also, they've rebranded themselves to Ascendex and how are your holdings up just 4x when the price has almost done over 50x?

The timing is not good for me when i bought that token. I bought it at 0.5 USD thinking that it would pump but it goes down to 0.25 USD, so to avoid a big lose i just left it in the exchange because withdrawing it entails a lot of BMTX token, 26 tokens as fee to be exact.

Maybe it's the rebranding and the marketing strategy of it's team member got them to where they are now and maybe also that a lot of tokens/coins are now up.

[livingfree]

Have you sold it already?

I got almost the same token that seemed to be dead and only waiting for it to comeback and have the same pump. Regardless of the reason I think this has something to do with bitcoin's bull run.

Usually we see almost dead coins come into life when we're in the bull run.

[Gozie51]

But I am wondering to myself that there are many people still holding these coins, there are many old coins that have revived and have crazy growth over the pastime. .

And I also remember I was a little carried off with anxiety as a newbie trying to look up coins to invest in in the expectation of a return, did I get it? The answer is No, I didn't  . That probably was because I didn't understand how to go about doing research and knowing future projects.

The hype is on and so many investors are coming in for quick money, they can put in money in any project that is hyping and it keeps going higher. Time will tell for many projects but at the moment, coins are hyping not all will survive.