Eternal Token- XET on a rise
The price of XET (Eternal Token) saw a huge surge in price with over 700% increase in just a few days. The Eternal Token was trading at $0.07 on September 24 and now it is trading at $2.07 which is an enormous increase.
What is Eternal Token?
Eternal Token, which is also XET and it Enters Top 100 With over 700% Weekly Growth.
Eternal Token (XET) entered into the market cap top one-hundred rankings for the first time with surging off the back of 646% weekly growth. This token launched in the mid-August and it is only listed on two exchanges, but that hasn’t slowed the momentum which carrying its 1,414% growth in the last fourteen days.
According to the information drove from the website, and the project’s BitcoinTalk announcement, Eternal Token- XET appears as a proxy token which entitles users to set a conversion ratio of XEC (Eternal Coin), it’s a centralized digital currency issued and overseen by the Japanese firm named- Atom Solutions.
A constraint ratio of conversion cannot be accurately pinpointed since various numbers exist in the various official documentation, which is ranging from 1:1 to 1:10. The idea is that Eternal Token– XET will be converted to the centralized XEC, which can then be used for international payments via exchange with existing cryptocurrencies.
The idea for this Eternal Token is to sold a helpful solution which allows users to keep track of their funds via a centralized authority – essentially a conversion center for crypto payments. But this raises a few questions like why is this initial issuance of XET necessary at all? Why users cannot convert their BTC or ETH to XEC and then use the service as described.
XET to Moon?
Over two weeks ago Eternal Token- XET was trading at $0.090469. With a fast forward in just a period of fourteen days and this token is worth $2.07. It’s the peak XET hit one morning at around 1,414% growth against the rate of the dollar. The token leveled off at $2.07, where it remained for the rest of Thursday.
In the past week, the flow has slowed down somewhat, equaling only 646% growth, and up from the weekly low of $0.183598. Volumes have almost risen by 1000% in the past week, up from $135,000 to today’s peak of $2.07.
Future of Eternal Token
Perhaps the launching of an ICO can garner more exposure than a simple product launch ever could, not to mention the fact that the teams now presumably have some R&D funds to play with. The Bitcoin Talk forum page is covered with some new accounts which are proclaiming the genius of this project; while also containing a few genuinely curious individuals, as well as all those yelling ‘scam!’ but that’s hardly unusual.
There are already, whispers of a dump is coming, as it is expected after such meteoric growth over the last two weeks. Whether the news about dump is actually hit or not, it’s probably too early to judge Eternal Token since many coins and tokens have started off under strange and abnormal environment, which is only to hang around through some kind of persistence.