XDC Shoots Up With 74% Gain – What’s Powering This Token?

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

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• Source: https://www.newsbtc.com/news/xdc-continues-to-shoot-up-with-74-gain-whats-powering-this-token/