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XDC Network Advances in December 2024
In December 2024, XDC Network advanced immensely in the blockchain space, particularly in the area of trade finance and real-world asset tokenization. It was seen launching C9Chain in Brazil - a subnet specialized for financial institutions that supports Brazil's Central Bank Digital Currency, Drex. A new partnership has been formed with ArchaxEx and EquitEdge, promoting better compliance and security in real estate tokenization. The XDC 2.0 upgrade further increased the capacity of the network to handle more transactions. A new real-time status page was introduced to provide the users with real-time information regarding the performance of the network. The partnerships for enhancing trade finance processes have streamlined operations in used automobile exports. In summary, December turned out to be a revolutionary month for the XDC Network in enhancing its competitiveness and capabilities in the blockchain industry.
Whale Activity and Market Dynamics
Recent whale activity on the XDC Network has drawn attention, especially after a 36% price surge in the token. Large holders, known as "whales," have been accumulating more XDC tokens, showing increased confidence in the asset's potential. Daily trading volume for XDC has also risen to around $66.72 million, indicating growing interest from both retail and institutional investors. This increased participation from whales can impact market sentiment and lead to significant price changes. Overall, the combination of whale accumulation and higher trading volume suggests a positive outlook for XDC tokens.
Price Performance and Technical Levels
Any weekly close above $0.11 confirms further bullishness.
XDCUSD surged more than 60% in past 3 weeks . It holds above the short-term (34 and 55 EMA) and above the long-term moving average. It hit a high of $0.105160 and is currently trading around $0.094337.
The bullish invalidation can happen if the pair closes below $0.060. On the lower side, the near-term support is $0.0850. Any break below targets $0.0650/$0.050. Any breach below $0.050 will drag the pair to 0.0265.
The pair's near-term resistance is around $0.1050. Any breach above confirms minor bullishness. A jump to $0.1250/$0.1500 is possible. A surge past $5 will take it to $6.
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It is good to buy on dips around $0.0850 with SL around $0.0600 for TP of $0.150.
