As the year 2019 has officially begun in most parts of the world, the time has come to look for new money-making opportunities. Masternode-oriented altcoins are still a great way to earn a passive income. ProxyNode, a relatively new project, is taking some important strides in this regard. Its listing on Crex24, as well as the first successful collateral upgrade, have people excited.
The Successful Collateral Upgrade
Around a week ago, ProxyNode masternode owners had to increase their collateral. More specifically, the number of coins required to operate a masternode increased from 2,000 PRX to 4,000 PRX.
In most cases, such a change triggers a fair few issues. While the overall number of ProxyNode masternodes decreased briefly, things have returned to normal ever since. In fact, it seems there are more masternode operators now than ever before.
This is a positive sign for this new altcoin project. Masternode collateral upgrades will occur on a regular basis for the foreseeable future. As such, it appears people are more than willing to lock additional coins rather than sell them on exchanges.
A New Masternode All-time High
Prior to the first ProxyNode collateral increase, around 200 masternodes were active on the network. That appeared to be a healthy amount for such a new project. A lot of people are drawn to this project due to its relatively high monthly and yearly ROI.
After the collateral upgrade, a lot of new masternodes were added to the network. The total number sits at 538 right now, but that is expected to increase moving forward. This also means over 2.15 million PRX is locked in masternodes at this time.
A new collateral upgrade will occur in two weeks from now. At that time, users need to lock 6,000 PRX per masternode. They will receive higher rewards for doing so, thus overall liquidity will be increased even further.
Speaking of PRX liquidity, the altcoin is now trading on Crex24. This is the second exchange to support ProxyNode trading. Users can also buy, sell, and trade PRX on Crypto-Bridge. More exchanges should alleviate sell pressure on the market. However, Crex24 has nearly no PRX trading volume as of yet.
With this second listing, ProxyNode becomes eligible to appear on CoinMarketCap. Once that happens, more people may become aware of the project. With the confirmed beta launch of the project scheduled to launch in the first half of 2019, it seems things are coming together for ProxyNode. There is still a lot of work to be done prior to becoming genuinely successful, though.
Disclaimer: All information provided in this article is for educational and entertainment purposes only. MNMMG Does not offer investment advice and is not responsible for any financial losses sustained by its readers.