XAI is up 23.02% in the past seven days, followed by a 26.99% gain in the last month.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Bithumb, the leading crypto exchange in South Korea, has announced the listing of Xai (XAI), the first layer-3 blockchain specifically created for AAA gaming, sending the price of the digital asset up by 8% in the past 24 hours, generating excitement in the crypto industry.
According to the latest data, the price of the XAI token currently stands at $0.9319, indicating significant gains for investors. The trading volume of the altcoin is down by 6.51% in the past 24 hours, standing at $79 million with a market capitalization of $259 million. If the trend remains the same, there are chances of a resumption of the uptrend in the near future.
The listing on Bithumb increases the exposure of the cryptocurrency to a new class of investors based in South Korea. The firm was founded in 2014 and has since gained prominence in the region with more than 1 million mobile app users.
However, it is important to note that XAI is significantly lower (41.29%) from its all-time high of $1.60 witnessed in March 2024. If the volumes remain stable and the influx of capital remains high, the token might witness an attempt to breach the $1 price level soon.
XAI is up 23.02% in the past seven days, followed by a 26.99% gain in the last month. Taking into consideration the one-year performance, the cryptocurrency has witnessed a price increase of 37.96%, showcasing monumental gains from a low of $0.4 at the beginning of January.
As per the announcement from Bithumb, XAI will be added to the Korean Won market, and the supported network will be Arbitrum One. It is imperative to note that deposits made through other networks are not supported. Additionally, the withdrawals will be supported 3 hours, 30 minutes later, after the deposit time.
Xai, developed by Offchain Labs and overseen by the Xai Foundation, seeks to transform the blockchain gaming industry by leveraging Arbitrum Technology. This platform focuses on simplicity and user experience, removing the complexities of wallet management and seamlessly integrating blockchain technology into the gaming ecosystem.
It aims to enable millions of traditional gamers to own and trade valuable in-game items quickly. Moreover, as per a Bitget post, “XAI is the primary token of the Xai blockchain, acting as the gas fee token on the Xai Layer-3”. The cryptocurrency is fully transferable and plays an important role in the day-to-day operations of the layer-3 blockchain.
In a post on social media platform X, Shrmurda explained the reason for games migrating from other blockchains to Xai, highlighting that it lets “anyone to operate a node, receive network rewards, and participate in governance,” making it lucrative and hassle-free for developers.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
