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Highlights:
- eCash (XEC) is the rebranded version of Bitcoin Cash ABC and a fork of Bitcoin and Bitcoin Cash.
- Amaury Sechet founded the XEC crypto, and he was the lead developer of Bitcoin Cash.
- The price surge of XEC crypto could be due to the announcement that 90 per cent of all XEC tokens are now mined.
The price of eCash (XEC) crypto was up three per cent to US$ 0.00007606 per token at 5 AM EST. Earlier, the price went up to US$ 0.00008387 apiece in the last 24 hours.
At the time of writing, the one-day volume of XEC crypto was up 95 per cent to US$ 174.1 million, and its fully-diluted market cap had surged to about US$ 1.6 billion.
As the cryptocurrency market is witnessing increased volatility due to the ongoing war between Russia and Ukraine, the global crypto market cap only registered a growth of 0.01 per cent over the last day, according to CoinMarketCap data.
Also Read: Why Waves (WAVES) crypto rallied around 100% in a month?
Meanwhile, the crypto market volume was down 13.26 per cent in the last 24 hours to US$ 81.26 billion. Almost all the major cryptocurrencies were trading in the red, like Bitcoin and BNB, down by 0.29 and 1.3 per cent, respectively.
What is XEC crypto?
eCash is the rebranded version of Bitcoin Cash ABC and a fork of Bitcoin and Bitcoin Cash. The digital currency claims it is designed to be used as electronic cash and aims to be crypto for making transactions to buy goods and services.
Amaury Sechet founded the XEC crypto, and he was the lead developer of Bitcoin Cash. Mr Sechet took the initial fork away from Bitcoin in 2017, and he was reportedly a software engineer at Facebook before coming into cryptocurrencies.
eCash combines a proof-of-stake consensus layer, and it is called Avalanche. However, it is not the same as blockchain Avalanche. When it was rebranded, eCash had announced that it would convert all Bitcoin Cash ABC coins to SEX at a ratio of one to one million.
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Bottom line
The price surge of XEC crypto could be due to the announcement that 90 per cent of all XEC tokens are now mined, and less than two trillion eCash cryptos are yet to be mined.
The total supply of XEC crypto is approximately 18.9 trillion, and the maximum supply is 21 trillion tokens. Meanwhile, the circulating supply of XEC crypto is 19,001.33 billion.
XEC crypto is available on cryptocurrency exchanges like Mandala Exchange, DigiFinex, OKX, and Binance. It is important to note that research and evaluation is a must before investing.
Also Read: Why did Star Wars Cat (SWCAT) crypto soar over 2600%? Is it a scam?
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