XELIS has made such huge waves in the crypto market, especially after its launch which happened in April this year. But before you go headfirst into investing in this relatively new crypto, there’s a lot you need to catch up on.

With that in mind, this article will highlight all the nitty-gritty details of the XEL crypto, paying close attention to its innovative features. As a plus, you will learn how to invest securely and effectively in this crypto. That said, let’s get started.

What is XEL(XELIS) Cryptocurrency?

XELIS is a decentralized platform that leverages smart contracts, zero-knowledge proof, homomorphic encryption, and BlockDAG to offer privacy on transactions, enable smart contracts, and give developers an easy-to-integrate blockchain network.

At the heart of this innovation, you have the XEL cryptocurrency which powers this decentralized network. Unlike traditional blockchains, XELIS uses BlockDAG to offer parallel chains and reduce the rate of orphaned blocks, a common issue that happens in conventional blockchains.

This innovative approach enhances scalability and transaction speeds, making XELIS a force to reckon with in the crypto space. On top of that, XELIS uses a specific client protocol that handles multiple occurrences of the same transaction across different chains. That streamlines the process, further reducing the emergence of orphaned blocks.

XELIS is built using Rust, a programming language that’s famous for it’s speed and efficiency. The bottom line is that XELIS is perfectly built for speed. And as a L1, platform, XELIS is set to change the current crypto space for the better.

The Price of XELIS on CoinEx

Despite the ups and downs that have happened on the XEL crypto, it has displayed a significant long-term bullish trend on the 7-day chart, increasing by over 29.92% to reach a high of $10.24. In August alone, XEL showed a steep upward trend, where the coin surged all the way from $6 to a peak of over $11. This outstanding trend is a strong indicator of a strong bullish momentum, primarily driven by increased buying pressure.

So far, the market cap seems to have maintained a stable figure, which shows the community of holders is slowly growing. Technically speaking, XEL has the potential to grow even further, supported by the breakout that happened at nearly $6 and consolidation near $10.

What’s more, the current consolidation within the $10 suggests that this could be an interim support. The recent peak at $12 serves as the new resistance level. That said, if the price action breaks either these interim support or resistance levels, we expect it to continue moving in that direction for a while. That said, if you truly want to leverage on XEL, the good place to trade is CoinEx.

Overview

*This article does not constitute investment advice.