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XDC Crypto Breaks into the Top 50, Here's What Drives its Success

Wed, 07/26/2023 - 08:08
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Vladislav Sopov
The potential factors driving XDC rise in the cryptocurrency world, include strategic partnerships, compliance-friendly features, growth of developers' ecosystem, and the launch of the stablecoin FXD on the XDC Network
XDC Crypto Breaks into the Top 50, Here's What Drives its Success
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In the ever-evolving landscape of blockchain and cryptocurrency, projects frequently come and go, but XDC Network has stood out, experiencing remarkable growth. Let's delve into the factors behind its surge into the top 50 cryptocurrencies by market capitalization.

Image by CoinMarketCap

XDC rises to prominence in crypto charts

Between the start of 2022 and the end of February 2023, the XDC Network witnessed exponential growth, doubling wallets and volume, along with a triple-digit increase in smart-contract deployment. This rapid expansion has catapulted XDC into the coveted top 50 list of cryptocurrencies.

Trade finance focus and legislative support accelerate XDC's growth

XDC's sharp focus on trade finance has garnered significant attention, with its emphasis on facilitating cross-border transactions and streamlining trade finance operations. 

Recent legislative developments in the UK Parliament, aimed at fostering blockchain adoption and digital assets, have further accelerated XDC's growth. Leading institutions like ICC, WTO, Citi Group, and Trade Finance Global have recognized XDC Network's potential in the field of trade finance, with XDC being the first blockchain company to join the esteemed Global TFD Initiative.

SBI Partnership in Japan is a landmark milestone for XDC 

The strategic partnership with SBI, a prominent Japanese financial institution, has propelled XDC's surge. XDC Network's collaboration with SBI has expanded its user base in the Japanese market, particularly in the crucial hub of international trade.

XDC Network's ability to facilitate asset tokenization and its compliance-friendly features have attracted institutional investors and enterprises, fostering trust and credibility in the network.

Growing developers ecosystem through hackathons and expanding global presence

A thriving developers' ecosystem has driven XDC's success, resulting in numerous decentralized applications and smart contracts being built on the network. Hackathons worldwide, such as the XDC DeFi hackathon and Consensus Web3athon 2023, have showcased XDC Network's capabilities, attracting more enthusiasts and contributors.

XDC Network's widespread global community has played a crucial role in promoting its adoption across various regions, including the United States, Australia, Germany, Europe, Japan, the UAE, Asia, and Africa.

XDC's overcollateralized ecosystem behind FXD stablecoin goes live

The soft launch of the stablecoin FXD has added another layer of utility to the XDC ecosystem, aiming to revolutionize trade finance by bridging the $5 trillion gap and enhancing global supply chains.

XDC Network's rise to the top 50 cryptocurrencies is a result of its focused approach on trade finance, strategic partnerships, compliance-friendly features, a thriving developers' ecosystem, and the introduction of the stablecoin FXD. As the cryptocurrency landscape continues to evolve, XDC's story serves as an inspiring example of how a determined project can climb the ranks and gain widespread recognition.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (, Monoreto, Attic Lab etc.)