XDC Network has secured $50 million from LDA Capital Limited and will accelerate the expansion and development of Layer-2 projects on top of the network.
XDC Network (XDC/USD) is an enterprise-grade Ethereum Virtual Machine (EVM) blockchain that features interoperable smart contracts.
XDC Network was originally founded in 2019, and the XDC cryptocurrency fuels the transactions and the smart contracts on top of the network.
Users also need to stake their XDC as a means of running validators, participating in the block generation process, and ensuring that the network is secure and safe.
The $50 million capital investment as a catalyst for growthIn the latest crypto news, the founders behind the XDC network have utilized a portion of their personal token allocations as a means of securing a $50 million investment from the global alternative investment group known as LDA Capital Limited, based on an official press release published on October 3, 2022.
This investment aims to accelerate the expansion and development of Layer-2 projects on top of the XDC ecosystem as a whole and facilitate higher network adoption and real-world utility.
LDA support will also fund new ventures, all of which can contribute to the growth of utility as well as the value of the XDC cryptocurrency.
Should you buy XDC Network (XDC)?On October 3, 2022, XDC Network (XDC) had a value of $0.03133.
The all-time high for the XDC Network (XDC) cryptocurrency was on August 21, 2021, at a value of $0.192754. Based on this, we can see that XDC was trading $0.161424 higher in value, or by 515% at its ATH.
When we go over its performance throughout the past week, XDC Network (XDC) had its low point at $0.02829998, while its 7-day high was at $0.03206897. Here we can see a difference in the value of $0.00376899, or by 13%.
Meanwhile, when we analyze its 24-hour performance, XDC Network (XDC) saw its low point at a value of $0.03075646, while its high point was at $0.03209331. This indicates that there is a difference in the value of $0.00133685 or by 4%.
With this in mind, investors might want to buy XDC at $0.03133, as by the end of October, it can climb to as much as $0.05, an increase of 59%
The post After XDC Network secured $50M from LDA Capital, how far can its value grow? appeared first on Invezz.
