XDC Network (XDC) surged over 14% in the past 24 hours, driven by a strategic partnership with Animoca Brands and significant network growth. This rise reversed its weekly losses into a 9% gain, making it the second-highest gainer of the day. Animoca Brands, a prominent gaming and venture firm, will act as an institutional masternode validator, providing funding support for developers on the XDC Network. The network's expansion was marked by a 49% increase in its stablecoin market cap, reaching $118 million, with USDC accounting for 98% of this total. Additionally, the Total Value Locked (TVL) on the network rose by 12.40% to approximately $14.78 million. Despite these gains, XDC's price action showed a breakout from a descending trendline on larger timeframes, while still consolidating on lower timeframes, indicating potential for further upward momentum.
XDC Network Jumps 14% Following Animoca Partnership and Network Expansion
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