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XEN mining PoP mechanism supply deflation comes true Within 30
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Date：2024-04-23 19:10:14 Channel：Exchange Read：
In the field of digital currency, the XEN mining PoP mechanism has caused an uproar recently. According to reports, in just 30 days, the price of XEN currency soared by 1,500%. This astonishing figure made the entire market crazy. Let’s take a deep dive into what exactly is happening behind the supply deflation of the XEN mining PoP mechanism.The essence of XEN mining PoP mechanismThe XEN mining PoP mechanism is a new mining method that uses the Proof of Participation (PoP) algorithm to incentivize participants and encourage them to participate more actively in network maintenance. The uniqueness of this mechanism is that it is not just a simple output of traditional mining, but also an incentive model based on participation. By participating in various community activities and network maintenance, users can receive rewards in XEN currency, thereby achieving a win-win situation.Price surge caused by supply deflationThe supply deflation of the XEN mining PoP mechanism is one of the key factors causing the currency price to skyrocket. As the number of participants increases and the reward mechanism continues to improve, the supply of XEN currency gradually decreases, and the circulation in the market also gradually decreases. This supply tightening resulted in increased scarcity of the currency, which drove the XEN currency price to rise rapidly.Community effect of XEN mining PoP mechanismIn addition to skyrocketing prices, the XEN mining PoP mechanism also brings powerful community effects. Participants have joined the XEN ecosystem one after another, actively participated in various community activities, and jointly built this digital currency ecosystem. Through the joint efforts of the community, XEN's influence continues to expand, attracting more users to join it, forming a virtuous cycle of development pattern.Future Outlook of XEN Mining PoP MechanismAs the XEN mining PoP mechanism continues to improve and develop, its future prospects are highly anticipated. As an innovative mining method, the XEN mining PoP mechanism will further promote the development of the digital currency field and bring new vitality and opportunities to the entire industry. As more users join and the ecosystem grows, the future of XEN will be brighter.ConclusionThe supply deflation of the XEN mining PoP mechanism has come true, causing currency prices to skyrocket by 1,500%. There are abundant opportunities and challenges behind this phenomenon. Through an in-depth understanding of the operating principles and community effects of the XEN mining PoP mechanism, it is not difficult to see that this innovative mining method will bring new vitality and development opportunities to the digital currency field. Let us wait and see and witness the glorious future of XEN together!The four most famous international exchanges:
Binance INTL
OKX INTL
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Huobi INTL
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Coin Circle (120btc.COM) News: Project XEN with a new concept of mining mechanism "Proof of Participation"
Crypto ignited the cryptocurrency community in October last year. Since its launch, it has accounted for nearly half of the gas burning on Ethereum. Within 9 hours, more than 100,000 wallets participated. The token even skyrocketed after being listed on the Matcha Exchange (MEXC). 180 times, and then plummeted 99% in just 3 days, instantly falling to the altar.
Since mid-March, it has skyrocketed by 1500% again
XEN
It has been 192 days since Crypto went online. More than 2 million wallets have minted XEN, and a total of nearly 30,000 Ethereum gas fees have been spent. Just when everyone thought that the price of the currency had collapsed, the price of XEN began to rebound strongly again in mid-March this year, starting from a low Points surged more than 1500%.
Why did the currency price turn V and rebound?
As for why the price of XEN began to rebound in mid-March, the community speculated that the team was ambushing a big move. Some people speculated that it was related to the newly launched token DXN. DXN needs to be obtained by burning XEN. Some people thought it was related to the launch of XEN this year. Knights commemorative NFT is relevant because bidding must be done with XEN. But in fact, it can be found from the data that XEN, a token that started to expand from 0 to more than 4 billion in three days after its birth last year, began to enter a deflationary pattern in the token supply in mid-March this year.
According to Coingecko data, XEN’s trading volume in the past 24 hours was nearly 45 million US dollars, 28.72% of which was concentrated on Uniswap v3, founder Jack
Levin tweeted one after another today saying that XEN has never ended and will never end, and proudly said: Uniswap
The trading volume on V3 is very high, and while Pepe and XEN are in the top ten, the other coins are not very interesting.
I'll answer.
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