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crypto.news 2025-01-15 13:51:26

XDC Network price soars as its DeFi TVL hits all-time high

XDC Network price continued its strong bull run, reaching its highest level since June 2022 as its ecosystem expanded rapidly. The XDC Network ( XDC ) token soared to a high of $0.1240, representing a 427% increase from its lowest level in 2024. This surge has pushed the token’s market capitalization to over $1.7 billion. The rally occurred as the total value locked in the XDC Network ecosystem hit a record high of $31.4 million, up from a low of $3 million last year. The ecosystem’s biggest players include Fathom, XSwap Protocol, Wefi, and Prime Staking. XDC Network has continued to grow this month, with notable integrations from projects such as PillarX and Globiance. Developers are increasingly drawn to the network due to its superior features compared to Ethereum ( ETH ). The XDC Network can handle up to 2,000 transactions per second with extremely low transaction costs, an average of $0.00001 per transaction, and is more energy-efficient than most blockchains. A potential catalyst for further price gains could be additional exchange listings by major platforms like Binance, OKX, and Coinbase. You might also like: Hedera Hashgraph price could soar as HBAR forms a bullish pattern XDC Network price analysis XDC chart | Source: crypto.news The daily chart shows that XDC has been in a strong uptrend over the past few months, rising from a low of $0.0211 in August to the current price of $0.1200. This recovery followed the formation of a golden cross pattern, where the 50-day Exponential Moving Average crossed above the 200-day EMA. This is a typically bullish technical signal. XDC also broke above the key resistance level at $0.1080, which had been the highest swing point since December 7. This breakout invalidated a potential double-top pattern that was forming. The Awesome Oscillator (the difference between the 34-period and 5-period simple moving average) has remained above the zero line since January 4, indicating sustained positive momentum. Additionally, the MVRV-Z score, which measures whether an asset is overvalued or undervalued, stands at 2.6. In technical analysis, a score below 3.8 suggests that the token is still relatively undervalued. Given these factors, XDC is likely to continue its upward trend, with bulls eyeing the next psychological resistance level at $0.1500. However, a drop below the key support level at $0.10 would invalidate the bullish outlook. You might also like: TikTok ban: Can crypto survive without TikTok’s influence?

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