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By Capital.com Research Team
08:07, 25 August 2022
The XDC Network (XDC) has positioned itself as a blockchain for enterprises. After launching in 2018, its business solutions have been recognised by the International Trade and Forfaiting Association (ITFA), and the network has developed a bustling ecosystem of applications.
However, the XDC Network (XDC) token has a troubling price history and only managed to get off the ground last year.
At the time of writing, there were some ambitious price predictions, including from AMB Crypto, that have suggested XDC can escape its current bearish trend. Others, however, such as CaptainAltcoin, were less optimistic.
The XDC Network is a blockchain that forked from Ethereum (ETH) and is now giving businesses the chance to create their own networks. Designed with scalability in mind, the blockchain has joined the many “Ethereum killers” that aim to escape the pitfalls of its inspirer.
It uses a delegated proof-of-stake (POS) consensus mechanism that produces blocks more efficiently. As of April 2022, there were 108 masternodes that run the network, with an extra 95 nodes ready on standby.
XDC Network boasts on its website that this has allowed it to process more than 2,000 transactions per second and keep a minuscule gas fee.
Explaining the blockchains features, its documentation said:
Ritesh Kakkad and Atul Khekade are the Singaporean co-founders behind the network. Kakkad previously co-founded the cloud hosting company IndSoft Systems in 1998. Khekade graduated with a degree in IT at the Sardar Patel College of Engineering in India and founded a range of startups, such as the private jet service company Airnetz.
Powering the network’s transactions and smart contracts is the XDC token. In order to become a validator on the network, nodes must hold 10 million XDC. After completing know your customer (KYC) checks, they are able to participate in block generation and earn gas fees.
Investors and businesses are the ones paying these fees in the native XDC cryptocurrency. The organisation created its own XDCPay application, a web extension that has support for Google Chrome and Mozilla Firefox, to make this process easier.
Decentralised applications (dApps) being built on the platform have also been utilising XDC as a utility token. These dApps include the finance distribution platform TradeFinex and the oracle MyContract.
XDC price chart
Source: CoinMarketCap
The XDC token had a tough start to its price history. It launched at $0.002 on 13 April 2018 and fluctuated around this launch price for the next three years.
Not until February 2021 did the cryptocurrency see its first breakout. It rallied to a peak of $0.14, which came after the XDC coin announced a bridge to the cryptocurrency Corda Network. XDC subsequently became the leading token of value on Corda.
XDC came close to that high again on 4 July when it hit $0.12. This happened during the lead up to the token’s listing on the BitMart exchange with a tether (USDT) pairing.
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???? The XDC/USDT trading pair will be available soon ????
???? Details: https://t.co/erxIvjBqvL pic.twitter.com/4lusqt4Wr2
The following month it surged to its all-time high of $0.19 on 21 August. XDC had recently become the first blockchain company to join the global TFD initiative. This was an organisation created to improve automation and transparency in the trade asset industry by the ITFA.
After this price record, XDC crashed along with the wider bearish crypto market. Aside from a slight rally on 1 January 2022 past $0.10, it continued falling throughout the new year.
As of 24 August, XDC was trading at $0.03, but it managed to maintain its position in the top 100 cryptocurrencies, where CoinMarketCap has ranked it 93.
At the time of writing, there were some bullish XDC price predictions that expected the cryptocurrency to see a steady rise. TechNewsLeader said it would have reached $0.08 in a year and a new high of $0.26 in five years’ time. Its XDC network price prediction for 2030 gave an optimistic maximum value of $1.12.
Similarly, the XDC coin price prediction from AMB Crypto estimated an average price of $0.07 this year. Its XDC/USD forecast suggested the pair could climb past $0.30 in 2026 and reach $1.19 in 2030.
PricePrediction, conversely, thought XDC would have only averaged out at $0.03 this year. But its XDC network price prediction for 2025 suggested the token might hit $0.12, and pass $1 in 2031.
CaptainAltcoin, more pessimistically, forecasted a more gradual rise, with an XDC network price prediction for 2022 that submitted it would have dropped to $0.01 by December. The site suggested the coin might have climbed back to $0.02 in 2025, while its XDC token price prediction for 2040 said it would have only reached $0.20.
When considering a XDC crypto price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.
If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.
As of 24 August, there were 12.31 billion XDC in circulation.
XDC Network was designed to support businesses with their blockchain endeavours. The XDC cryptocurrency finances this process, rather than as a speculative instrument.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the XDC token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never invest money that you cannot afford to lose.
There were some optimistic forecasts (as of 24 August) suggesting that XDC could see a steady rise, including PricePrediction who suggested that it would have passed $1 in 2031. However, CaptainAltcoin expected a pullback to $0.01 this year.
In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether XDC network is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never invest money that you cannot afford to lose.
XDC has been struggling with the crypto bear market this year, which has seen the token lose over 80% since its August 2021 high.
Whether you should invest in XDC is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up.
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