- Chain (XCN) has gone up 12% today while much of the crypto market sees big drops.
- XCN’s high-profile partnerships have given it an important place in the world of crypto.
- If crypto continues to be accepted by more governments and international agencies, financial services could transition to become entirely blockchain-based.
Chain resists the plunge today. Is it worth the investment?
As the crypto market continues to fall after a difficult weekend, Chain (XCN) saw a rise of 12% today, even as other coins like Bitcoin and Ethereum continued to fall. While the market experiences decline, XCN is able to rise in the short term for a number of reasons. Some are pegging XCN as a low-risk investment by comparing its recent price movement to its total trading volume. Read on to discover the secrets of XCN and the potential reasons why it was able to climb during a period of heavy loss.
Money on the Chain
XCN is the native token of Chain, a blockchain infrastructure that specializes in allowing companies to handle financial services on the blockchain. Chain has partnered with renowned financial institutions in the past to create the future of finances with blockchain technology. Chain has partnered with companies such as Citibank, Nasdaq, Visa, and more in its efforts, and XCN is the digital currency that powers all of the functions these companies require on the Chain. With collaboration from major enterprises like Visa and Citibank, Chain has allowed XCN to create a name for itself among other interesting blockchain projects. With such high-profile companies partnering with Chain, XCN becomes a much more valuable asset.
XCN and the future
As one of many different types of cryptocurrencies out there, XCN has the potential to cause a major shift in the crypto space by creating a new status quo for financial transactions. If the predictions of XCN’s low-risk investment potential are true, institutions that need stability, such as Visa and Nasdaq, could lean even further into XCN in order to fund their transactions on the blockchain. If the partnerships Chain has with these companies provide large amounts of success, the world will take notice. As more of the world’s leading government bodies and major institutions begin to recognize crypto as viable means of exchange, financial transactions could become majorly blockchain-oriented due to their reliability and their ability to track every bit of information that passes through them.
The bottom line
Because of XCN’s current predictions as a low-risk investment, many investors are taking advantage of a safer bet during the market’s plunge period. Chain has made very intriguing partnerships with certain organizations that make XCN a coin worth watching. If XCN’s partners flourish because of their blockchain efforts, the world of financial transactions may focus more on blockchain operations in the future, and Chain could be one of the leading players. As cryptocurrency finds its feet in the upper echelons of society, more and more operations will find a home on the blockchain. The blockchain projects that start this transition successfully could find their values skyrocketing in due time.
Still unsure if cryptocurrency is the right move for you? Check out our guide to crypto investment, where we answer: Is crypto worth it?
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Katie Clinebell owns Ethereum and Bitcoin.
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