The Ethereum-based scaling solution, Arbitrum, initiated the Xai gaming network’s first airdrop last week, distributing 125 million XAI tokens to early adopters. The token saw a significant surge in value over the weekend and into Monday, enhancing the airdrop’s overall value for token holders, both existing and newly claimed. How high will the XAI price go? Let’s take a look at ths XAI price prediction article in more detail.
What is XAI token?
Positioned as a gaming-focused “layer-3” network, Xai operates atop Arbitrum, which serves as a layer-2 scaling network for Ethereum. Developed through a partnership between Arbitrum developer Offchain Labs, game studio Ex Populus, and the recently established Xai Foundation, the network aspires to establish itself as a prime hub for blockchain gaming.
How has the XAI Price moved in recent days?
As of today, the current Xai price stands at $1.06 USD, accompanied by a 24-hour trading volume of $563,351,417 USD. Over the past 24 hours, Xai has surged by 24.52%. In the CoinMarketCap ranking, it holds the #163 position, boasting a live market cap of $293,955,479 USD. The circulating supply comprises 277,118,150 XAI coins, while the maximum supply is set at 2,500,000,000 XAI coins.
Why is XAI Price Up?
XAI has surged by over 24% in the past 24 hours, reaching a record-breaking price of $1.08 at the time of this report, according to CoinMarketCap data.
Following its initial debut last week at approximately $0.77, the token experienced a decline to as low as $0.45, a common occurrence for newly launched tokens due to their inherent volatility. However, in the early hours of Sunday, the price started to climb from around $0.60 to its present value, marking an impressive increase of almost 90% in just about a day and a half.
In the recent airdrop conducted last week, tokens were distributed to users holding early Xai NFT collectibles and those who acquired Sentry Keys to operate validator nodes, contributing to the network’s transaction processing.
For instance, Sentry node operators had the opportunity to claim 1,658 XAI for each node owned, now valued at approximately $1,860. Owners of Xai Vanguard NFTs could claim 1,307 XAI each, equivalent to over $1,460 at the current price.
The overall value of the airdrop has surged from around $70 million shortly after the token launch last week to about $140 million, reflecting the peak price of XAI as of now.
The current surge in price and the inclusion on various exchanges mirror the growing anticipation surrounding Xai in preparation for its mainnet launch. The most recent addition to support XAI is Crypto.com, joining the ranks of other leading exchanges like Binance, KuCoin, and CoinEx.
On January 3rd, Binance unveiled Xai as the 43rd project on Binance Launchpool, enabling users to farm XAI tokens. This milestone marked Xai’s principiante integration with a major exchange. Furthermore, Binance expanded its support by introducing XAI spot trading pairs and offering USDT-margined XAI contracts on Binance Futures.
How High Will the XAI Price Go?
With its layer 3 architecture emphasizing scalability, user-friendliness, and interoperability, Xai is strategically positioned to harness the rapid expansion in the gaming sector. Through the abstraction of blockchain complexities, Xai aims to seamlessly onboard millions of gamers into web3 experiences.
The remarkable rebound of the XAI token post-airdrop announcement underscores its substantial potential. The recent listing on a major global exchange such as Crypto.com further suggests that XAI may undergo additional price discovery.
As XAI becomes more accessible to users, anticipations include heightened liquidity, increased trading volumes, and enhanced visibility for this promising blockchain tailored for gaming.
Based on the outlined considerations, it is projected that XAI may fluctuate between $1.070 and $1.466. Achieving the upper price target could potentially lead to a significant increase of nearly 35%, bringing XAI to $1.466.
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