XEP in figures June 2021
XEP in figures is written by Aat de Kwaasteniet in a personal capacity and it is not only an objective listing of facts but it is supplemented at some points with with my ideas and opinion. I am just one of the community members of XEP and have no ties to the XEP team. I will try to make an overview of all the figures around Electraprotocol XEP every month.
The prices are the weighted average opening prices of the various exchanges named on CoinGecko and are valued in USD to appeal to the widest possible audience.
The annual figures are obviously limited at this time but for completeness they are mentioned. In one or two years these figures will be more useful.
June 1: $0.00155
June 30: $0.00122
The lowest price was reached on: June 23: $0.00101.
The highest price was recorded on: June 5: $0.00220.
The 30-day moving average (red line) shows a declining line. It was on 01–06–21 $0.00185 and is on 30–06–21 $0.00137. So we see the whole month a falling price.
In this month the long awaited listing on a T1 exchange finally became a reality on June 4 and although a lot of people had high hopes for it for the course (rockets, moon and lambo’s I saw passing by) unfortunately not much happened to the price level. Only a small pump and dump.
Price in historical perspective
Although the historical data from XEP covers only a short period of time, we can make a graph of it. We can see June isn’t the best month pricewise.
We are seeing a small but growing trading volume of XEP with positive and negative outliers here and there during the month. Especially the second part of the month of June showed much trade activity compared to the first half. Overall June was a good trading month.
If we look at the trading volume of June compared to the previous months we see an increasing volume in US dollar and also in XEP.
June was a top trading month with, for the first time, over a million dollar trading volume. Maybe caused by the Bittrex Exchange listing.
XEP is active on several social media channels. Based on these numbers of users, we can see if people remain actively involved with XEP. Number of users is per June 30, 2021. In parentheses the members as of May and the percentage change.
Telegram Members: 4854 (4467, +8.6%)
Twitter Members: 23400 (20100, +16.4%)
Discord Members: 12067 (12108, -0.3%)
Reddit Members: 511 (500, +2.2%)
Youtube Members: 249 (229, +8.7%)
Facebook Members 2178 (2174, +0.2%)
We are seeing a big increase in the number of XEP Twitter followers +16.4%, Telegram members and even Youtube followers, despite the lack of content on Youtube. This grow is nice because it means that more and more people want to follow XEP and are interested enough to follow it on social media. Only the Discord members has dropped a littlebit.
Number of active nodes : 437 (June 30,2021). In May it was 455 and April 538. We see a steady little drop the last few months. That drop must be stopped for the safety of the blockchain.
We see that the realization of the Bittrex listing has not brought what many XEP adepts had hoped for. And despite all the good announcements around Evoblox and new wallet versions, little happens with the price. This is also my experience with other currencies, such developments hardly affect the price of that currency. But why not?
News of new features and issues affecting the use case are obviously shared most via social media among existing users. But the existing XEP “hodlers” are waiting for the price to grow and will not be inclined to keep investing in XEP in order to get the price up. Each user has reached their own limit of purchases at some point and then goes to wait.
An increase in the price can actually only be caused by the growth of new entrants into XEP. All attention should be focused on this. The question is, of course, how this can be achieved.
My experience is that new users are not attracted by the development of, for example, a new wallet. A coin can develop the most fantastic wallet with the most beautiful features but it will not lead to more XEP trading as history shows with other coins. A big part of the users don’t even have a wallet but leave everything on exchanges, despite the 3% stake reward.
Also the development of the use case with evoblox/electrapay and so on, which the XEP team is very focused on, will not automatically lead to a great future in price and number of users for XEP.
In fact, most crypto-owners don’t care. The vast majority of crypto owners are only in crypto to get rich quick and not out of idealistic motives to create a nice new decentralized payment system, unfortunately.
I think the XEP community needs to realize this and thus XEP can only grow, both in size and price, if we start convincing more people of the usefulness of crypto and in particular of XEP of course versus the current FIAT money system. It therefore makes no sense to adopt a wait-and-see attitude and expect everything from the XEP team. XEP is a decentralized cryptocurrency so success depends on your own efforts. Get started yourself and make sure all the people around you have heard of XEP.
My experience is that many people love free money and that “seeing is believing”. So get new people to download a wallet and give them XEP worth one or two dollars and a proportion of them will then take an interest in crypto and hopefully buy some more XEP.
Soon I will start on Twitter with a little XEP give away whereby participants are forced to download a wallet so that they at least get in touch with XEP.