• eCash (XEC) is currently trading at $0.00003694 in the last 24 hours, after finally breaking above the $0.00002 price level on January 23, 2023.
• The eCash network was created to bring Decentralized Finance (DeFi) solutions to crypto users and to support Ethereum Virtual Machine (EVM) compatibility.
• Recent upgrades, such as Avalanche Pre-Consensus and Avalanche Post-Consensus, are likely influencing its price trend.
eCash Price Update
eCash (XEC) is currently trading at $0.00003694 in the last 24 hours, after finally breaking above the $0.00002 price level on January 23, 2023. The asset’s price has been positive for the past 30 days with its 30-day high at $0.00004428 and its 30-day low at $0.00003424. Despite the current slump, it has recorded progress in February 2023.
What Is eCash?
The eCash network was created to bring Decentralized Finance (DeFi) solutions to crypto users and to support Ethereum Virtual Machine (EVM) compatibility while scaling up transaction speed and reducing costs associated with transactions on the network.
Updates On The eCash Network Affecting Its Price Trend
Avalanche Pre-Consensus was announced on January 30, 2023 which offers almost instant transaction finalization where transactions are irreversible once finalized with confirmation time of a transaction from 10 minutes to just a few seconds making it faster than Proof-of-Work reliant crypto like bitcoin . This upgrade will launch soon on the network and will validate each transaction before adding it to a block . Additionally , Avalanche Post-Consensus provides 51% attack prevention which is important for miners since XEC shares same SHA256 algorithm with Bitcoin . With this post – consensus upgrade , individual nodes form a consensus to finalize blocks on the network .
Recent upgrades made to the eCash Network have likely had an influence over its recent market performance as well as provide additional security measures that make it more attractive for miners and investors alike . It remains unclear how much further these updates will drive prices but they certainly look promising so far .