Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
Crypto News

GXChain (GXC), Binance listed coin surges record 900%, Here’s what you need to know

Aggrey AeraBy Aggrey AeraPublished December 3, 2021 on December 3, 2021
GXChain
Illustration credit: Morning Tick
Share
Reddit Facebook Twitter LinkedIn Pinterest WhatsApp Email
  • GXChain Foundation initiates a proposal to rebrand to REI network.
  • The REI Network will be compatible with Ethereum RPC and EMV.
  • The new structure allows for seamless migration of Ethereum applications, including Defi.
  • Price surges 900% (9X) from its last week low with an ATH of $5.7

The GXC coin had surged 900% from its last week low to hit an all-time high of $5.70 as at the time of writing with intraday volume over $4.5 billion, as per CoinMarketCap.

GXChain is a decentralized blockchain for the global data economy, designed to build trusted data exchange solutions. It is a peer-to-peer data marketplace that allows users to store and exchange their data.

Why does the coin price skyrocket? 

The rise of the coin was actuated when GXChain Foundation initiated a proposal to revolutionize its brand, token distribution, economic model, and ecosystem cooperation on Dec. 2 through a tweet and on medium.

☑️Welcome to #REINetwork !#REI #GXChain #GameFi #EVM #Airdrops #Discord #referral #Mateverse #DeFi #Crypto https://t.co/iiZdt82div

— GXChain | Becoming #REI Network (@GXChainGlobal) December 2, 2021

Since the mainnet came live in 2017, GXChain has consistently been building a value network of trusted data. To remain relevant when Defi revolutionized the crypto market, GXChain embarked on reinventing itself to GXChain 2.0. However, on 2nd December, GXChain 2.0 was renamed REI Network.

The REI network is restructured to a brand new blockchain structure that uses a lighter code architecture that is compatible with Ethereum RPC and EMV(Europay, Mastercard, and Visa). Therefore, the new structure will allow for seamless migration of Ethereum applications, allowing more applications developed on GXChain and Ethereum, including Defi.

Gigantic accumulation phase

An analysis of the chart reveals that the coin has been in an accumulation phase for the past 560 days. However, on April 5th, 2021 there was an attempt to break out but didn’t manage to sustain any rally as it got rejections from the Fibonacci golden ratio of 0.618 in the weekly timeframe. 

GXChain
GXC/USDT – 1 Week, Binance

The altcoin only managed to get a breakthrough this week following the official announcement, surging 900% from its low previous low. It even managed to hit an astonishing Fibonacci level of 2.618 which stood at $4.72. However, the RSI indicator was at 90, which is an overbought zone, indicating the possibility of price weakening.

There is an immense spike in the trading volume, resulting in a 9x gain as it surged 1000% volume as per CoinMarketCap hitting $4.5B on average. The last 24-hour trading volume on Binance in USDT pair is alone $1.7 Billion. The altcoin has a circulating supply of $75 million and ranked at 180 on CMC at the press time

Crypto News Featured Market Analysis
Disclaimer
Read More Read Less
The information provided on this website shouldn’t be considered as investment, tax, legal, or trading advice. Morning Tick is not an investment advisory platform, nor do we intend to be. The publication, its’s management team, or authored-by-line doesn’t seem liable for your personal financial losses, which may be due to your panic decisions based on the content we published. We strongly recommend considering our stories as just a piece of information, unlike advice, recommendations, or requests. Some of the contents may get outdated, updated, or inaccurate despite our profound editorial policies. We urge readers to do their due diligence before making any investments decision with ongoing IDOs, ICOs, IEOs, or any other kind of financial offerings. Few outbound links may be commissioned or affiliated, which helps us grow financially and maintain healthy editorial norms. For more information, visit disclaimer page.
Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
Previous ArticleGrexie launches its free GREX token, integrates with fiat-to-crypto gateway aggregator, Onramper
Next Article Fragma launches Metaverse for content creators with token reward scheme
Aggrey Aera
  • Twitter

Aggrey Isoe Aera is B.A. Economics graduate and certified Accountant with interests in emerging technologies, and their disruptions in everyday lives. He is particularly interested in AI, Big Data, 5G, Blockchain, Machine Learning, Fintech, cashless payments, and anything crypto.

Recommended Posts

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

3 hours ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 weeks ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

3 months ago

Oxford United FC joins the mental health conversation through new sponsorship

4 months ago
Add A Comment

Comments are closed.

Latest

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

3 hours ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 weeks ago

KX.finance announces upcoming DeFi/DEX aggregator launch on APTOS/SUI blockchain

3 months ago

HyperBC Group unveils Zero interest Crypto Credit Card HyperCard, obtains Lithuanian Financial License

3 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

3 months ago
Morning Tick
Facebook Twitter Instagram Pinterest RSS
  • About Us
  • Press Toolkit
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
© 2022 Morning Tick. Disclaimer: The information provided on this website shouldn't be considered as investment, tax, legal, or trading advice.

Type above and press Enter to search. Press Esc to cancel.