XCAD Rises 35% Despite Market Selloff as Its Ecosystem Grows
XCAD is defying the market
The market has not done so hot recently. As war continues to rage in Ukraine and inflation grows, investors have been selling off risk-on assets like crypto and stocks in favor of less volatile ones. Despite this, XCAD token is defying the market by rallying over 35% this week.
#355 on the charts, XCAD is a network built on the Zilliqa blockchain that features the ZRC-20 token standard. The goal of the XCAD Network is to use YouTube and DeFi to make a flourishing creator economy. YouTube content creators can release their own tokens, and fans can earn those tokens through the XCAD browser plugin when watching a creator's YouTube videos. Various top YouTubers already back the platform, including Mr Beast and KSI.
What caused the pump?
The roadmap is still near its start, but The XCAD team hinted the browser plugin would be released in a few months at the most. Also, 3 new single asset staking farms were announced. Given that buying has not ceased since the news was announced on April 20th, an uptrend appears to have formed.
Impressively, the XCAD decentralized exchange, is already live and seeing high levels of liquidity with other Zilliqa tokens. XCAD was also the LunarCrush coin of the day on April 25th, showing its recent increase in popularity.
Though, one coin related to XCAD that was left out of the fun was Zilliqa's native coin: ZIL. Recently, on April 5th, Zilliqa publicly released a new metaverse as a service (MaaS) called Metapolis that has seen high amounts of interest for its value proposition. XCAD will likely integrate with Metapolis in the future once the roadmaps of both projects are complete enough, which should likely lead to price increases for both.
Scilla enables safe DeFi
In the world of DeFi, security is arguably the number one concern. Even if transactions are fast, security is a common weak spot overlooked in many projects. As a result, Zilliqa developed its own programming language for DeFi called Scilla with security as its top priority.
Since XCAD is a Zilliqa token, it is built using Scilla too, and as a result, benefits from the various security features it offers like formal verification. This makes XCAD an attractive token for the creator economy, since YouTube will inevitably open many new attack vectors.
The Future of XCAD and Zilliqa
Zilliqa itself has gone through many large changes this year, including a hiring spree and expanding DeFi ecosystem. These developments have been largely bullish for the price.
XCAD is still at the beginning of its roadmap, but they're about to make a big leap forward by releasing the browser plugin in the summer. Even though some profit taking is likely on the horizon, the overall uptrend appears to be strong and will likely continue given its unique value.
