What's next for XDC Network?
Key Takeaways
- The XDC Network coin rose when it announced it was hosting the USTY treasury yields token.
- XDC, which supports a platform that mixes public and private blockchains, has performed relatively well so far this year.
- Can XDC use this as a launchpad to bigger things?
- Two XDC Network price predictions say the coin can reach $0.19 in 2025.
The XDC Network, which aims to merge the best of private and public blockchains, got a boost in late August 2023.
The news that it was to host USTY, a token based on US Treasury yields, saw the price of XDC rise.
This followed XDC spurting after Elon Musk changed Twitter’s name to X. When this happened in July 2023, cryptos beginning with the letter X saw their price rise. XDC was one of many beneficiaries.
However, it was the case that XDC, which aims to merge the best of private and public blockchains together, was on the rise anyway.
This might suggest that, yet again, certain parts of the world of crypto have given Musk credit for something that he had absolutely nothing to do with.
But what is XDC Network (XDC)? How does XDC Network work? Let’s see what we can find out, and also take a look at some of the XDC Price Predictions that were being made as of September 1 2023.
XDC Coin Price Prediction
Let’s examine some of the XDC Network price predictions being made on September 1 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2023 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $0.12 | $0.19 | $0.58 |
| Prediction #2 | $0.085 | $0.19 | $1.19 |
| Prediction #3 | $0.0353 | $0.0851 | $0.2128 |
First, CoinCodex had a short-term XDC Network price prediction that saw the coin reach $0.0614 by September 6 before climbing further to $0.0753 by October 1. The site’s technical analysis was neutral, with 17 indicators sending bullish signals and 13 making bearish ones.
XDC Network Price Prediction for 2023
DigitalCoinPrice said XDC Network would reach $0.12 this year, while PricePrediction.net thought it would get to $0.085. CaptainAltCoin was a bit more pessimistic, saying XDC would fall to close the year at $0.0353.
XDC Network Price Prediction for 2025
CaptainAltCoin said XDC Network would reach $0.0851. Both PricePrediction.net and DigitalCoinPrice said XDC would trade at $0.19.
XDC Network Price Prediction for 2030
Moving on to an a more long-term XDC Network price prediction, PricePrediction.net said the coin would be worth $1.19 in 2030. CaptainAltCoin had it at $0.2128. DigitalCoinPrice made an XDC price prediction of $0.58 at the start of the next decade.
Recent Updates from the XDC Network
XDC Network announced that it was hosting USTY, a token created by British company Tradeteq, in late August 2023.
The XDC Foundation’s executive director, Billy Sebell, welcomed the news. He said: “These efforts have now brought the promise of a secure, scalable trade finance solution on the XDC Network into reality and signify a major step forward in our vision of XDC being the trade network of choice in the blockchain space.”
Tradeteq’s COO, Nils Behling, said the partnership represented an “unparalleled investment solution”.
He added: “Our collaboration with XDC Foundation and Securitize and the use of the XDC Network aim to redefine traditional investment paradigms.”
XDC Network Price Analysis
The XDC price reached an all-time high of just under $0.20 on August 21 2021. A downtrend started after that which saw the price fall around 90% to about $0.02 in early December 2022.
December’s low was the lowest the price has been since February 2021. This could have marked the end of a multi-year bear market.
XDC hovered between $0.02 and $0.04 for much of the first half of 2023. On July 23, it broke out to $0.09. It has fallen back down since, but the breakout could have signaled the start of the next bull cycle.
Now we could see it drop down to the $0.04 base level. If the price wants to go up more, it needs to stay above there. If it goes back between $0.02 and $0.04, this would mean that it doesn’t have the strength to rise higher.
XDC Price History
Let’s now take a look at some of the highlights and lowlights of the XDC price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a XDC price prediction.
When XDC first came onto the open market in April 2018 it was worth about $0.003. It soon broke through the cent before falling back and hovering below $0.01 for the following two years or so.
Things changed in early 2021, when the crypto market turned bullish and XDC reached a peak of $0.1316 on 15 April. It slid down after this, but a market recovery in August saw it reach an all-time high of $0.1939 on 21 August. The coin then dropped to close the year at $0.09808.
2022 was not a good year for cryptocurrency, and XDC was in the majority, losing value over the course of the year. A series of market crashes devastated the coin’s price and, on 31 December, it was worth $0.02538, a year-on-year loss of nearly 75%.
XDC Network in 2023
2023 has been a much more encouraging year for XDC so far. The coin rose past $0.04 in March and, although it dropped to $0.03025 on 28 May, it has recovered since then.
Most importantly, it went from $0.032 on 16 July to $0.05868, its highest price in more than a year, on July 22. After that, it continued to move upwards and, on August 4, it traded at $0.09154, its best price since Janaury 2022.
There was a slip when Elon Musk’s SpaceX offloaded millions of dollars worth of Bitcoin (BTC) in the middle of August. On August 17, XDC fell to $0.05502.
The USTY news helped boost XDC, which reached $0.06659 on August 30, but by September 1 it was back down to about $0.056.
At that time, there were 13.86 billion XDC in circulation out of a total supply of 37.7 billion. This gave XDC Network a market cap of about $777 million, making it the 45th-largest crypto by that measurement.
Is XDC Network a Good Investment?
It is hard to say. The coin has experienced some ups and down over recent months. The crypto managed to avoid the worst of the fallout from the United States Securities and Exchange Commission (SEC) suing Binance and Coinbase. It also caught the wave of Twitter’s rebranding and has been able to build new partnerships.
On the other hand, it has dropped in recent days, so we will have to see what, if anything, can be done to bolster the crypto’s price.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in XDC.
Will XDC Network go up or down?
No one can really tell right now. While the XDC Network crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in XDC Network?
Before you decide whether or not to invest in XDC Network, you will have to do your own research, not only on XDC, but on other, related, coins and tokens such as Ethereum (ETH) and Solana (SOL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
From the Whitepaper
In its technical documentation, or whitepaper , the XDC Network, then called XinFin, says it aims to merge the best features of public and private blockchains.
It adds: “While blockchain was invented in 2008 by Satoshi Nakomoto, developments in blockchain ecosystems today have a striking semblance to the early years of the internet. “During the inception years, pioneers, dreamers, and early adopters came together to build the internet space we experience today.
“In the blockchain space, many pioneers, dreamers, and early adopters have introduced ground-breaking projects. XinFin is among these novel organizations.”
XDC Network (XDC) Explained
While the blockchain is the most crucial technology in the world of cryptocurrency, there are actually two sorts of blockchain.
Public blockchains are accessible to all, allowing anyone to take part, verify transactions, and view the entire blockchain history.
Private blockchains, on the other hand, have restricted access. This means only selected entities are allowed to participate and access the blockchain’s data and operations.
As a rule, private blockchains are faster. As their name suggests, they offer better privacy. Public blockchains tend to be more decentralized and transparent.
With that in mind, it makes sense for there to be a blockchain that can combine the two. The XinFin global payment system had this in mind when it created the XDC Network blockchain.
The XDC Network is powered by its native coin, XDC.
How XDC Network Works
The XDC Network was founded by crypto entrepreneurs Atul Khekade, Ritesh Kakkad and Karan Bhardwaj in 2017.
It allows people to use private subchains which link to the main XDC Network public blockchain. This, in turn, means that the system is able to give people access to both private and public blockchains.
The XDC Network uses a Proof-of-Stake (PoS) consensus mechanism. This means people are chosen to add blocks to the blockchain, verify transactions and secure the network based on how much XDC they hold.
XDC also pays for transactions on the blockchain. It can be staked in return for rewards, and it can also be bought, sold, and traded on exchanges.
FAQs
Will XDC Network reach $1?
It might do, but not for quite some time yet. PricePrediction.net thought the coin would break past the dollar in 2030 and DigitalCoinPrice said it would happen in 2032.
It is worth remembering that XDC Network has never even come close to trading at $1, with its record high of $0.1939 coming in August 2021.
What is XDC Network used for?
The XDC coin pays for transactions and fees on the XDC Network blockchain. People can also buy, sell, and trade it on exchanges.
Further Reading
tomiNet Price Prediction 2023: What is tomiNet (TOMI)?
XDC Network Price Prediction 2023: What is XDC Network (XDC)?
IOTA Price Prediction 2023: What is IOTA (MIOTA)?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
