XDC Network Soars 25% as Community Celebrates 4th Anniversary, Here's What's in Store
Godfrey Benjamin XDC Network looks to build further enterprise engagement as it celebrates 4th anniversary Cover image via stock.adobe.comDisclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XDC Network is on a bullish run today in what appears to be a unique way for the community to celebrate the protocol's fourth anniversary. The XDC coin soared as high as 25% in early morning trading, with its price now pegged at $0.0377. XDC Network, despite being a highly functional blockchain network, is relatively obscure in terms of its decentralized finance (DeFi) innovations. With its new age comes a new reality as the protocol recently announced a partnership with SBI VC Trade Co. Ltd., a prominent Japanese cryptocurrency exchange within the SBI Group. The partnership will see XDC Network deploy its robust protocol, which can facilitate efficient and low-cost trade finance transactions that will be largely beneficial for the Japanese market. 📢 Banking Powerhouse SBI Commits to Empowering XDC, Expanding XDC Network's Footprint in Japan🌐💼 Read here: https://t.co/5yDK3GXZuE We're thrilled to expand our ecosystem in Japan through this strategic partnership with @sbivc_official . Together, we'll revolutionize trade… — XinFin (@XinFin_Official) May 31, 2023 In redefining its focus for the year ahead as will be powered by the SBI partnership, XDC Network aims to be the dominant leader in the provision of blockchain solutions for enterprises and financial institutions. Because of current sentiment in the XDC Network, the digital currency has also remained bullish for the week, jumping as high as 28% at the time of writing. Related XDC Network's steady evolution Since the launch of its mainnet four years ago, the XDC Network has evolved in a steady way with a focus on protocol enhancement and community engagement. As reported earlier by U.Today, the protocol launched DAOFIN earlier this year as it seeks to introduce an entirely new decentralized framework for the network. Besides DAOFIN, several unique decentralized applications (dApps) have been launched on XDC Network, including the non-fungible token (NFT) marketplace, XDCNFT. While it may not be as popular as Ethereum and Solana, XDC Network has maintained relatively high developer activity, with plans to push more into enterprise engagements in the coming years. Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. About the author Godfrey Benjamin Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on Blockchain.news, Cryptonews and Coingape, among others. Related articles