XDC Continues To Shoot Up With 74% Gain – What’s Powering This Token?

Christian Encila

1 year ago

3 mins read

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As XDC, the digital token for XinFin Network, exhibits a powerful display of bullish momentum, the cryptocurrency market is humming enthusiastically. XDC has increased by an incredible 74% in just one week, impressing traders and investors with its massive rise.

The altcoin’s ascent over the past 30 days has been remarkable; it has seen a substantial 56% increase, solidifying its place as one of the market’s most exciting digital assets. The altcoin has demonstrated its strength by trading at a startling 100% premium over its January opening.

XDC’s price at the time of writing was $0.058, up 16.6% in the last 24 hours. At cryptocurrency market tracker Coingecko, the token continues to lead the list of the top 100 coins for the week.

XDC Dominates Weekly Rankings

Source: Coingecko

XDC Network is a blockchain platform for businesses and developers who want to build decentralized apps (dApps) on an efficient and scalable blockchain infrastructure.

The platform is built on an enhanced Ethereum codebase and is compatible with the Ethereum Virtual Machine (EVM).

In order to attain the target price of $1, analysts predict that the value of the XDC token will increase by a factor of about 24. This suggests a big potential for growth and offers a chance for investors looking for significant returns.

XDC market cap currently at $812 million. Chart: TradingView.com

XDC has previously shown significant price appreciation. From its lowest price of $0.050 in June 2021, the token’s value increased by slightly more than three times in just two months.

In August 2021, XDC reached its highest recorded price of $0.18 thanks to this outstanding performance. Such a sharp price increase demonstrates the token’s intrinsic volatility and ability to provide substantial returns in a short amount of time.

A total of 37,705,012,600 XDC coins are available, with a circulating supply of 13,851,401,350 and a market cap of $812 million for XDC.

Strong Price Performance

XDC price action in the last week. Source: CoinMarketCap

This year, the token has boomed, reaching a high of $0.050 before turning erratic, with periodic upward and downward movements. A 10% increase would allow XDC to test its 2023 highs again.

XDC Network is thrilled to announce that we are a Gold Sponsor of @WebX_Asia organized by @coin_post , a premier event in Japan! 🇯🇵

After the strategic partnership with @sbivc_official, this sponsorship will further enhance our presence in the Japanese market, and we can’t wait… pic.twitter.com/KnKG2mSUrf

— XinFin (@XinFin_Official) July 20, 2023

Meanwhile, the blockchain project’s collaboration with the Japanese cryptocurrency trading firm SBI VC Trade to sponsor WebX 2023 coincides with the token’s price increase.

Users of the XDC network anxiously anticipate an upcoming event that will reveal cutting-edge innovations, open doors to exciting possibilities, and enable interactions with influential personalities in the business.

The XDC community is brimming with anticipation for the network’s bright future, and this excitement has driven the network’s price higher over the past week.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Crast.net

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.