Main Points:
- XEN Crypto’s price has seen fluctuations, with a recent surge followed by a dip.
- The project is benefiting from the transition of Ethereum to proof-of-stake.
- XEN’s performance has been volatile, but it is showing signs of improvement.
XEN Crypto Price Movement:
XEN Crypto, known for its social mining protocol, experienced a nearly 8% decrease in its price within a 24-hour period as traders opted to take profits. Despite a recent surge in interest that led to a 43% increase in the past week, intraday trading volume has decreased by 23%.
XEN’s Performance Over Time:
Although XEN’s price has shown positive trends over the past week and month, it has dropped by 81% in the last year. The token’s gains from the 2021 bull market have been largely erased, with the price still up by 67% from its all-time low recorded on Aug. 5.
XEN’s Future Prospects:
The project’s focus on Ethereum’s deflationary mechanism through burning ETH for minted XEN tokens and its dominance in transactions across Ethereum virtual machine chains are driving renewed interest. Additionally, the development of the X1 blockchain and the upcoming launch of solXEN on the Solana blockchain are key factors contributing to the potential bounce in XEN’s price.
