eCash Fundamental Analysis
ECash (XEC) is a cryptocurrency on the Bitcoin Cash ABC network — a result of a hard fork of Bitcoin Cash that occurred in 2020. The coin was initially called Bitcoin Cash ABC too (BCHA), but was redenominated 1:100000 and rebranded to eCash in July 2021.
The history of the Bitcoin Cash ABC network is controversial. A few years before BCHA forked off BCH, BCH itself split away from Bitcoin Core, or just Bitcoin. This was caused by disagreements among the team and the community about the scalability of Bitcoin with its block size cap of 1 MB and usefulness as a payment method. As a result, Bitcoin Cash was made, with larger block size, therefore supporting higher transaction throughput.
Bitcoin Cash ABC was split off later because its core developer group was in favor of imposing “miner tax.” 8% of each block’s coinbase (newly mined coins which normally go to the successful miner as a block reward) would be sent to the address belonging to the developers as an incentive to work on the protocol. This idea was not received well by the community, and BCHA forked off BCH with almost no hashpower.
After rebranding to eCash, the network also made plans to integrate the Proof-of-Stake consensus protocol to help speed up the transactions. Experts also note that there is a focus on EVM compatibility, which may mean plans for interoperability with Ethereum-based projects.
eCash Price Chart
ECash started slow, trading at around $0.00002 for the better part of July 2021. Later XEC price started going up and climbed throughout August towards $0.00006–$0.00008. In September, XEC experienced a price surge, reaching a high of almost $0.0004 on September 4. Although after this XEC went through a slight price correction, it’s been trading in the ~$0.0002–$0.0003 zone, which is still very good for this coin. This makes eCash price predictions very hopeful.
eCash Technical Analysis
Despite the fact that 100% accurate technical analysis for eCash cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated XEC buy-and-sell rating for selected timeframe. The summary for XEC/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Summary
As it can be clear from the analysis cited above, eCash (XEC) projections are rather contradictory. There is no universal consensus either about positive or negative future XEC price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the eCash projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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eCash Price Prediction: Can Bitcoin Cash ABC Cryptocurrency Price Soar after Rebranding into eCash? was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
