XDC Network (XDC) Price Unravels - Could XDC See a 50% Boost This Year?

XDC Network (XDC) Price Unravels – Could XDC See a 50% Boost This Year?

Updated: 08 September 2023

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Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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As of 5:57 AM EST, September 8, XDC is trading at $0.057, marking an impressive 10% increase from its value just 14 days ago. Moreover, in the last 24 hours, XDC is still exhibiting bullish sentiment as the coin is up by over 6% today.

With the broader crypto market recovery gradually amid the anticipation of an ETF approval before the year ends, XDC might pump by 50% alongside other digital assets.

Tokenized U.S. Treasuries To Launch USTY Using XDC Network

On August 29, Securitize announced on the X platform the introduction of tokenized U.S. Treasuries on the XDC Network.

The market for tokenized U.S. Treasuries has grown to $622M this year, which is why we’re excited to be working with @Tradeteq on the launch of USTY tokens using @XDCFoundation’s trade finance-focused blockchain. More from @sndr_krisztian in @CoinDesk: https://t.co/YSRwXlJBUQ

— Securitize (@Securitize) August 29, 2023

USTY tokens, representing ownership in a U.S. Treasury bond ETF, can be obtained through Tradeteq’s platform, a UK-based marketplace for real-world assets and private debts.

Assets turned into tokens, like government bonds, could lead to a market worth $5 trillion. This could be good for the XDC Network as it could boost its reputation as a reliable place for tokenizing real-world assets.

XDC Price Analysis – Bullish Trend Move

XDC reached a month high of $0.09092 on August 3, representing an over 180% 30-day gain. On August 4, XDC reached a week high of $0.09134, almost 50% higher than the $0.05896 recorded on July 29.

Though the token retains most of its past gains, its rally has stalled, dropping from the month’s high of $0.09146 to $0.081.

Source: TradingView

XDC is in a critical market position, trading below the 50-day Simple Moving Average (SMA), suggesting a short period of downward price movement. However, it maintains a position above the 200-day SMA, indicating a broader positive trend over a longer timeframe.

Presently, the market is steering toward the 50-day SMA, illustrated by a succession of green candles. This upswing suggests that the coin may soon be poised for a potential upward shift.

Notably, a decisive breach above the 50-day SMA could signal a shift in sentiment and a potential trend reversal. Additionally, the Moving Average Convergence Divergence (MACD) supports this analysis as it presents signs of a change in momentum.

The MACD red histogram bars are fading, suggesting that the bearish momentum is dropping in the short term. This means buyers are building up strength, and if the rate is strong enough, XDC might breach the 50-day SMA. Nevertheless, the Relative Strength Index suggests a balanced market with equal buying and selling strength.

XDC Oscillates Between Critical Support, Resistance Levels

Source: TradingView

The daily chart shows XDC trades between the primary support and resistance levels at $$0.053 and $0.0673, respectively. The support level indicates that the coin might keep going down before investors looking for good deals start buying and steer up an upswing.

This could push it to or even above the $0.0673 resistance, setting new highs in the long term. Otherwise, XDC might drop even more to find support at $0.0497. In the meantime, considering the uncertainty in the XDC market, investors might want to explore other promising options like $BTCBSC.

BTCBSC – Next Crypto Moonshot?

The newly launched cryptocurrency venture, Bitcoin BSC ($BTCBSC), has initiated its token presale in a bold initiative.

Moreover, its eco-friendly staking strategy sets this project apart from its rivals. Also, incorporating a diverse ecosystem for dApp integration sets the stage for substantial growth in the future.

Passive Income for Token Holders Through Staking

Utilizing a Proof-of-Stake (PoS) consensus mechanism, the staking feature offers a more environmentally sustainable alternative compared to the energy-intensive Proof-of-Work (PoW) mechanism employed by Bitcoin.

After the presale, 14.875 million $BTCBSC tokens will be securely locked within an unalterable staking contract.

Investors who participate in staking their $BTCBSC tokens can receive a portion of these rewards every time a new block is confirmed on the original Bitcoin blockchain.

The greater the amount of $BTCBSC tokens a user stakes, the more significant the portion of rewards they can gain, encouraging prolonged involvement in the project.

What’s particularly appealing is that staking won’t require costly mining equipment or computer hardware, ensuring that Bitcoin BSC’s stake-to-earn protocol is accessible to a broader audience.

BTCBSC has raised over $222,000 at $0.99 per BTCBSC token. The presale is anticipated to be short before the official launch of $BTCBSC. Interested users can join the ongoing presale by visiting this website.