XDC Network Continues Bull Run as Ecosystem Expands
The XDC Network price has been on a remarkable uptrend, reaching its highest level since June 2022 amidst rapid expansion within its ecosystem.
Surging to a high of $0.1240, the XDC token has seen a staggering 427% increase from its lowest point in 2024, pushing its market capitalization over $1.7 billion.
This surge in price coincides with a record high total value locked in the XDC Network ecosystem, now standing at $31.4 million compared to just $3 million a year ago. Key players within the ecosystem include Fathom, XSwap Protocol, Wefi, and Prime Staking.
The network’s growth has been further fueled by recent integrations from projects like PillarX and Globiance. Developers are increasingly turning to the XDC Network due to its superior features compared to Ethereum, including the ability to handle up to 2,000 transactions per second with minimal transaction costs averaging $0.00001 per transaction and its energy-efficient blockchain.
Potential catalysts for further price gains include anticipated listings on major exchanges like Binance, OKX, and Coinbase.
XDC Network Price Analysis
Looking at the daily chart, XDC has been in a strong uptrend, rising from $0.0211 in August to its current price of $0.1200. The formation of a golden cross pattern, where the 50-day EMA crossed above the 200-day EMA, signaled a bullish trend.
XDC also surpassed the key resistance level at $0.1080, breaking a potential double-top pattern. The Awesome Oscillator has remained above the zero line since January 4, indicating positive momentum. The MVRV-Z score, currently at 2.6, suggests the token is relatively undervalued.
Bulls are eyeing the next psychological resistance level at $0.1500, with a drop below $0.10 potentially invalidating the bullish outlook.