Recently, the cryptocurrency world was shocked by the drastic increase in the value of the Xai token (XAI), reaching new highs. This surge has become a hot topic among investors and crypto observers. So, what caused the price of XAI to soar? Let's find out more about what happened behind this surprising event!
XAI Price Increase Analysis
The Xai token (XAI), which is now popular in the GameFi arena , managed to record a price increase of up to 35%, a notable achievement amidst the general downward trend of the crypto market. This surge is the result of a series of smart innovations and tactics implemented by Xai Network.
Also read: What is Xai (XAI): Gaming Innovation on Blockchain Arbitrum
Below are a number of reasons why the price of the XAI token rose drastically.
XAI Airdrop Up To $140 Million
Recently, Xai (XAI) held an airdrop that created positive waves among the crypto community. In this free crypto airdrop, they are giving away rewards to early holders of Xai NFTs and users who own Sentry Keys, who take part in managing validator nodes for network transaction processing.
For example, in the last crypto airdrop, Sentry node owners got the chance to earn 1,658 XAI for each node, which is worth approximately $1,860 at current market prices. Xai Vanguard NFT holders can also claim 1,307 XAI per NFT, worth over $1,460 based on current market prices.
The total value of this free airdrop saw a significant increase, from around $70 million after the token launch to $140 million currently, marking XAI's highest ever valuation. This airdrop is not just about token distribution, but also creating attention for Xai's innovative way of providing incentives to its users.
Also read: Crypto Airdrop and Guide on How to Get It for Free
2. Listing on a well-known Crypto Exchange
Xai (XAI) coin's involvement with major exchanges was instrumental in its price increase. On January 3, Binance included Xai as the 43rd project in the Binance Launchpool, which allows users to acquire XAI tokens. This move is an important milestone as it expands Xai's reach to a larger audience through one of the leading crypto exchanges.
Xai's presence on Binance not only improves its performance in the market but also expands its reach with support from other exchanges such as Crypto.com, KuCoin, and CoinEx. XAI's inclusion on various exchanges signals increased anticipation ahead of their mainnet launch and increased liquidity.
3. Xai's Technology and Vision Are Attractive for Investment
Developed by Offchain Labs and the Xai Foundation, Xai is a decentralized blockchain designed specifically for the needs of gamers.
Different from other cryptocurrencies, Xai focuses on simplifying the gaming experience, making it more accessible for traditional gamers by reducing the complexity associated with crypto wallets.
Xai stands unique as a gaming-focused “layer-3” network, operating on top of Arbitrum Bridge, a layer-2 scaling network for Ethereum. With a focus on scalability, ease of use and interoperability, Xai is strategically positioned to capitalize on the rapid growth of the gaming sector, by combining blockchain innovation and gaming excitement.
Through a partnership with gaming industry experts at Ex Populus, XAI aims to prioritize user creativity and satisfaction, moving away from an exclusive focus on financial gain and prioritizing player enjoyment over its monetary aspects.
Xai Price Prediction: What to Expect in the Future?
Referring to recent developments, the impact of the airdrop, as well as Xai's presence on major crypto exchanges, the short-term prospects for Xai (XAI) appear bright.
The integration between blockchain and the gaming experience, innovative distribution methods, and its technology and vision all contribute to Xai's continued growth potential.
Also Read
Tether Denies UN Accusations Regarding USDT
Binance Launches Crypto Exchange Service in Thailand
Chainlink and Circle Collaborate to Ease USDC Transfers Between Blockchains
What is Polygonscan? Features and Guide on How to Use Them
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.