Xai (XAI) is a cryptocurrency that aims to enable real economies and open trade in the next generation of video games. With Xai, gamers can own and trade valuable in-game items without the need to use crypto-wallets. Xai is developed by Offchain Labs leveraging Arbitrum technology.
In this article, we will analyze the current price of Xai, its weekly performance, its future outlook, and some of the latest news related to the project.
Table of Contents
Current Price Analysis
As of 20 Jan 2024, the price of Xai is $0.5759. This represents a 10.47% decline in the last 24 hours and a 23.8% increase in the past 7 days.
The current market cap of Xai is $160,043,246, ranking it at #267 among all cryptocurrencies. The circulating supply of Xai is 277,118,150 XAI, out of a total supply of 984,486,851 XAI and a max supply of 2,500,000,000 XAI.
Higher chances of a pump in XAI, if it continues to trade in this zone.
The 24-hour trading volume of Xai is $64,776,911, with most of the volume coming from Binance and Bitget.
Weekly Price Analysis
The weekly price chart of Xai shows that the coin has been on a strong uptrend since 10 Jan 2024, when it reached its all-time low of $0.455. Since then, Xai has surged by more than 26.6%, reaching its all-time high of $0.7734 on 9 Jan 2024.
The weekly price chart also shows that Xai has broken above the 20-day and 50-day moving averages, indicating a bullish momentum. The relative strength index (RSI) is above 70, suggesting that the coin is overbought and may face some resistance or correction in the near future.
Future Outlook
The future outlook of Xai depends on various factors, such as the development and innovation of the project, the adoption and integration of Xai in the gaming industry, the competition and regulation in the crypto space, and the overall market trends and sentiment.
Some of the positive factors that could boost the price of Xai in the future are:
- The growing popularity and demand of Xai as a gaming currency that enables real economies and open trade in video games.
- The support and participation of the Xai community, which can operate nodes, receive rewards, and vote on governance decisions.
- The development and innovation of the Xai project, which leverages the Arbitrum technology to provide scalability, security, and interoperability for Xai.
- The listing and exposure of Xai on major cryptocurrency exchanges and platforms, such as Binance, Bybit, DigiFinex, BingX, and Bitget.
- The partnership and collaboration of Xai with other gaming projects and platforms, such as ScapesMania, which is a metaverse game that will use Xai as its native currency.
News Roundup
Here are some of the latest news and events related to Xai and its project:
- Elon Musk Slams Bloomberg Over ‘Fake’ xAI Funding Report: Elon Musk, who launched xAI as an alternative to OpenAI last year, slammed Bloomberg for publishing a ‘fake’ report that claimed xAI secured $500 million in commitments from investors toward a $1 billion goal.
- XAI’s 60% weekly rise and ScapesMania presale could skyrocket in February: Xai (XAI) has been on a dominant upward trajectory, highlighting its potential in the crypto market. The coin is expected to soar even higher in February, as the presale of ScapesMania, a metaverse game that will use Xai as its native currency, is set to launch.
Conclusion
Xai (XAI) is a cryptocurrency that aims to enable real economies and open trade in the next generation of video games. The coin has been on a strong uptrend in the past week, reaching its all-time high of $0.7734 on 9 Jan 2024. The current price of Xai is $0.5759, with a market cap of $160,043,246.
The future outlook of Xai depends on various factors, such as the development and innovation of the project, the adoption and integration of Xai in the gaming industry, the competition and regulation in the crypto space, and the overall market trends and sentiment. Some of the latest news and events related to Xai and its project include the funding report of xAI, the presale of ScapesMania, and the valuation of xAI.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
