In the past one week one token has graabbed the headlines as it was ranked as the top gainer on CoinMarketCap. The little known, XinFin, ticker XDCE token, has been racking in huge numbers since it was launched earlier this April and shows no signs of slowing. XDCE gained over 127% in a day according to Coinmarketcap as it soared past the $0.01 mark easily to halt at $0.0191. The token has since taken its foot of the pedal with a slight 5% drop since Friday.
The Incredible 24 hours
XDCE • Saturday April 28, 2018• (Coinmarketcap)
Trading closed with mixed results as the token’s price dipped by over 23%% during the day to trade slightly above $0.09 USD. This was a day after the coin gained over 100% in 24 to top the Coinmarketcap charts. The sudden spike in price in XDCE was termed as a pump scheme in some quarters but the token held on to the price through Friday reaching a remarkable milestone in the process.
The XDCE token was ranked the highest gainer in all the 1500+ coins and tokens this Friday as prices remained above the $0.01 mark through the day. This was the first time the coin was ranked the top gainer during its brief one and a half month lifespan. XDCE also recorded its highest daily trading volumes ever as $1.8 million USD worth of XDCE were traded across its exchanges.
In the cryptocurrency world, only the survivors make it through to be among the top 100 coins on the rankings. Bitcoin started the movement, Ethereum introduced smart contracts, Litecoin came up with Litepay solutions etc. XinFin has come up with a hybrid blockchain that knocks of the international trade barriers such as transaction fees and congestion in ports and deports. The coin has so far surpassed expectations, but what caused the vast increase in price?
Reasons for the 127% gain on XDCE token
- Institutional partnership with Ramco Sysyems
XinFin network is built to leverage innovation and a collaboration network for developing technology enabled sustainable solutions. The hybrid blockchain is built to connect institutions and enterprises under one ecosystem making transactions and business interactions faster, safer and cheaper. The recent Ramco Systems/ XinFin Fin Tech institutional partnership, a week after the launch of XDCE gave investors reason to believe in XDCE being adopted to solving real world problems.
- Right market entry timing
There is common knowledge amongst crypto enthusiasts and long term investors in the field, Q1 sucks, Q2 rocks. In the past 4 years, the market has been unbearable in Q1 as assets lose value by more than 30% in each of these years. The market then recovers in the same light as Q2 has seen the market quickly correct.
As most new tokens, offered in Q1, suffered with the whole market being in a bearish momentum at the time, XDCE got its market entry timing perfect. The token was launched in mid-March at the tail end of Q1 when some markets were already recovering and the market was turning green. XDCE has enjoyed massive adoption during the current bullish momentum and the blockchain is well positioned to grow further
- XDCE’s fascinating hybrid blockchain.
As far as blockchain technology goes, the XinFin (XDCE) hybrid network is one of the most revolutionary tokens to date. The hybrid network combines the best features of both the public blockchains and private blockchains creating a faster and safer network than having the pure breed in solitude. The platform is a creation of XinFin Fin Tech back in 2017 with an aim to tackle the transaction problems in the $27 trillion USD international trade industry. The hybrid nature of the token has increased media attention on XDCE and its team members. This increasing attention the token is gaining should be one of the factors to push the XDCE token above $1 in the coming months.
As XinFin continues its journey towards the top, several key events are planned for this Q2 on the development, marketing and management side as outlined on its roadmap. First, standardization of internet of things (IoT) data frames and IoT hardware security. The team also looks to tie up partnerships and agreements with financial and non-banking financial corporations for capital financing in a bid to increase adoption of XDCE. The cold wallet storage is by far the most anticipated for development on the network. All will be ready by Q2, how much will XDCE rise?