The XDC Network, a hybrid blockchain designed for global trade and finance, has been steadily gaining traction. Its recent price performance has caught the attention of many, with some observers noting its potential to become a significant player in the crypto market.
The XDC Network has been exhibiting an impressive price performance recently. As of the latest data, the live XDC Network price stands at $0.08623, with a 24-hour trading volume of $29,721,754.47. This represents a significant increase of 35.81% in the last 24 hours.
The current market capitalization of XDC Network is $1,194,559,475, placing it at the 42nd position in the global cryptocurrency market rankings.
Analysts have noted that on a technical level, the XDC price has undergone an uptrend with potential trend reversal, rebounding from the trendline to reach new highs. There is strong support expected to drive prices higher and create a new demand zone. Some predict that XDC could end 2023 between $0.20 to $0.30 USD, and between $2 to $7 by 2025.
XDC Network’s unique approach to blockchain technology is one of the factors contributing to its growing popularity. As a hybrid blockchain, it combines the advantages of both public and private blockchains, making it an attractive solution for businesses and financial industries. This innovative approach contributes to sustainable development in these sectors, offering a new way to handle transactions and data management.
The recent launch of the XinFin subnet has been identified as a key trigger behind the surge in XDC’s value. This new feature allows enterprise and institutional customers to own their infrastructure in a private and isolated domain. As of August 2, the subnet has nearly 11,500 commits on GitHub, indicating a high level of activity and interest.
In addition to its technical strengths, XDC Network also boasts a strong and growing community. Despite being a relatively new project, it has already received funding from major venture capital firms, demonstrating confidence in its potential. The increasing market capitalization and trading volume of XDC reflect the overall bullish sentiment in the cryptocurrency market.
The XDC Network has also made significant strides in establishing partnerships. One notable collaboration is with Singapore’s Infocomm Media Development Authority (IMDA). XDC Network has integrated with IMDA’s TradeTrust and launched an initiative to enable the creation and financing of Model Law on Electronic Trade Records (MLETR)-compliant digital trade documents. This new initiative, known as the XDC Trade Network, further solidifies XDC’s position in the realm of trade finance.
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