Why Chain (XCN) crypto jumped over 70% in 30 days?

4 min read | April 07, 2022 12:43 AM AEST | By Versha Jain

Why Chain (XCN) crypto jumped over 70% in 30 days? — Image source: © Aleynikov | Megapixl.com

What Is Chain (XCN)?

Chain is a cloud blockchain infrastructure enterprise that enables organizations to build better financial services. The Chain has a permissioned, open-source blockchain called Chain Core and a ledger-as-a-service product named Sequence.

Chain Core is an enterprise software product to implement Chain Protocol. Organizations can operate a blockchain network using Chain Core and connect to other networks.

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Chain Protocol outlines how assets are issued, transferred, and controlled on a blockchain network. The protocol allows an organization to operate a network and support the coexistence of different assets and interoperability with other independent networks.

The ledger-as-a-service ‘Sequence’ enables organizations to track and transfer balances in the token format. Organizations can securely manage their financial assets through Sequence on the private ledgers and transfer them across public networks.

Chain (XCN) was founded in 2014.

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Chain partners with industry leaders to bring blockchain networks to market. It has built blockchain networks for Nasdaq, Visa, Citibank, State Street, etc. Chain Token holders can get discounts on commercial fees, participate in governance, and access its premium features.

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Data Source: coinmarketcap.com

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XCN token price and performance:

The token has a market capitalization of US$1.35 billion. In the last 24 hours, its trading volume rose 9.16% to US$52.1 million. The token rose around 72.05% in the last 30 days. The token has a self-reported circulating supply of 16.48 billion and a total supply of 68.89 billion.

The token can be traded on CoinTiger, DigiFinex, KuCoin, Gate.io, and HitBTC crypto exchanges.

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Bottom line:

Cloud computing and blockchain technologies are likely to witness rapid growth in the future. However, the cryptocurrency market currently lacks adequate regulations. Hence, investors need to be cautious and apply due diligence while investing in digital assets.

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