Why Is eCash (XEC) Trending?
eCash price has surged around 60% in the last 24 hours and is continuing on the same path for now. The crypto market is highly bullish, and many cryptos have outperformed their value. So why is eCash trending? Let’s discuss that in this blog.
eCash Price Analysis
eCash is a cryptocurrency with its native token, XEC. It is used as electronic cash during transactions of goods and services only. It is the rebranded version of Bitcoin Cash ABC, a Bitcoin and Bitcoin Cash fork.
XEC is currently trading at $0.00007757. with a hike of 60% from yesterday. It is ranked 71 on Coinmarketcap with its market capitalization of $1,528,232,794 after a 60% hike. Rather than XEC’s price, the major progress is visible in its trading volume of $1,403,008,513 after an impressive hike of 1521%.
eCash (XEC) price started plummeting after 29 February, when it was worth $0.0000358 with a trading volume of $36.14. Comparing the week’s data, it has surged by more than 122% and has gained the highest peak in the last 22 months. eCash price reached its all-time-high value of $0.0005926 on 10 November 2021. Compared to that, its current value has dipped by 87.25%.
Top Reasons Why eCash Is Trending
The fear & greed index has called the crypto market in a highly greedy zone. Many cryptocurrencies are performing well. Bitcoin price also plays a significant factor in the crypto market. Many altcoins performed well this week, including eCash, Pepe Coin, and BONK, and have shown a good opportunity for investors.
Because of its focus on scalability and speed, eCash’s demand has been primarily increasing. eCash is working on the growing demands for digital payment solutions which is accessible as well as efficient.
One important reason behind this currency hike is its efforts in rebranding and positioning itself as an electronic cash system. The crypto community is impressed by the unique use case of this crypto, which solely focuses on transactions.
An old eCash post on X is again into trends where they have compared their transactions to the rest of the top blockchains. The post highlights the cost of transferring $100,000 through different sources. Visa/ Mastercard will deduct $100-$300 as transaction fees, the wire transfer will deduct $150 to $500, and Ethereum will charge $1-$20. The eCash transaction fee is the lowest among these. It will only cost you $0.000165 for the translation of 100,000 dollars.
The eCash network achieves guaranteed sub-cent fees and instant transaction finality at mass scale through a completely permissionless setup pic.twitter.com/6qOytskfa7
— eCashCommunity (@eCashCommunity) February 11, 2024
Conclusion
eCash was stuck in a below-average price for almost two years and has finally jumped out of its with a recent hike of 60%. It is currently trading at $0.00007757 with a trading volume of $1,403,008,513. If the market continues to be bullish, there are good chances of seeing better progress in eCash prices shortly. Read more about today’s trending cryptocurrencies.
The post Why Is eCash (XEC) Trending? appeared first on CoinGape.
Filed under: News - @ January 1, 1970 12:00 am