XEN CryptoXEN Crypto, like many crypto project, been in a downtrend move since the birth. However, XEN's price behavior have changed in the past 2 months and significant growth occurred. After the upward impulse wave finished, price entered a corrective wave which unfolded in a downtrend channel; Now, it seems price may breaks this channel. Let's see what happens.
Note; the depicted Elliot waves shown are for display only and its too early to determine their exact locations.
Xencrypto
TitanX is better designed than #HEX and #XENControversial Take I know.
But not really surprising.
We are used to seeing our phones getting better every year.
Hex was designed by Richard Heart well over 5 years ago -- and was amongst the first generation of Yield and self storage #DEFI protocols.
XEN was a fair launch idea... mint your own supply.
A slight improvement on HEX... but disastrous in price.
On #Pulsechain we have seen numerous projects launch pre funded, with token sacrifices with with horrendous price charts.
TitanX has fairly launched on the most battle tested blockchain.
U mine your own supply.
But the miners have a real cost to them. so the system cant be gamed by a couple computer nerds like in Xen and create a horrible price chart.
The dividends could entice people to believe they could potentially generate side income with this system. #Pumpamental
There is scarcity and mining difficulty built in of course.. #Pumpamental
Already on social media I am seeing the beginning of cult like behaviour #Bullish
So the more I scratch the surface of this protocol
The more impressed I am with the thought that has gone into the design.
This could definitely blow up in my face,
and potentially your face if you decide to interact with this protocol, and the Ethereum gets rugged.
It has been audited 3 times... but i have not got to reading those yet...
So proceed with caution
but also optimism at the potential this indeed could go viral. Or at least attract quite alot of capital....
Let's take it month by month
XEN Layer 1 By Early Google EngineerXen crypto is certainly a different project. Xen launched a little over 6 months ago in the middle of a bear market on nearly every block chain a token can be created on. At first its pupose was relatively unknown but it soon became apparent that xen was to be a freely distributed gas token for a new and extremely powerful layer one block chain of its own.
To entice users the xen team allowed the entire supply of tokens to be minted by potential users for Free.
FREE As in NO team allocation of any kind and the entire supply minted freely by users until all tokens have been created.
One of the most promising features of Xen is its founder.
Xen was started by early google engineer Jack Levin under the same game theory applied by Google in the early days. Providing the product free to gain the trust and support of users seems like an unprofitable business adventure but in an industry with fierce competition today we can see the business model obviously worked to set google as the leader in web searches. It is the mass flow of eager users to the Free product that set google in a place to sell enough services to set it at the top of the tech sector.
Xen crypto appears to be shooting for the same response. In the crypto industry competition is equally fierce and speculators are looking to see who can grab the attention of users and xen may be it.
The token was launched and minted for free so looking at the price chart we can see the imense sell pressure. Through crafty tokenomics this sell pressure will not last forever.
Looking at a multi ema ribbon we can see price for the first time since its launch is approaching and possibly ready to cross the 200ema.
Being this is a relatively new project risk is always high but so is the reward if the project can reach its real potential.
Xen crypto has a qualified public leader with a real product that businesses and regular people alike will have a real need for.
Fast cheap and effective layer one block chain.
Time will tell the tale.
Xen(Xen Crypto) Get ready for more action to the downsideBased upon what the charts are suggesting looks like Xen is coming down. A huge diamond pattern on the 1h timeframe plus over 3 additional Layers of confluence supporting the following measured moves, the first projection 0.00000219, 0.0000019, then 0.00000175..Stay tuned..
