XDC possibly forming the Three Rising Valleys pattern (source: TradingView)
As the chart above shows, XDC has been rallying since Mid-February. If this continues, XDC may begin to hit the psychological resistance at $0.05. If all goes well for the XinFin market, XDC may complete the Three Rising Valleys pattern, which is a bullish signal.
At the time of writing, XDC price is around $0.035, according to CoinMarketCap. Its current all-time high (ATH) price is around $0.045.
XinFin, shorthand for eXchange inFinite, is the protocol behind XDC Network, a blockchain ecosystem that facilitates smart contracts and decentralized applications (DApps).
For many years, Ethereum has dominated the crypto space in the smart contract category. However, Ethereum’s gas fees are extremely high, forcing many people to come up with different solutions. Popular competitors include TRON, Cardano, and EOS. But with XinFin’s recent developments, it can also belong in this said category, albeit seen as an underdog.
Hence, XinFin listed its XDC on Liquid Exchange to enhance adoption of its native asset and blockchain. At the moment, there are a handful of DApps and protocols that use XinFin’s blockchain. Some of these include TradeFinex, MyContract, and BlockDegree.
Aside from the above-mentioned functionalities, XDC Network also enables developers to build decentralized finance (DeFi) protocols and non-fungible tokens (NFTs).
This article first published on coinquora.com
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Source: Cryptocurrency - investing.com
