XAI coin, the native token of the Arbitrum-based, gaming-focused “Layer 3” network Xai Blockchain, has experienced a significant price surge, trading at $1.12 with a 24.69% increase and a market value of $311 million. Earlier in the day, the price spike reached 40%.
The price hike is attributed to Xai’s role as a solution for Ethereum scaling and its ambition to become a new milestone in gaming networks. Xai recently initiated an airdrop for early users, distributing 125 million XAI tokens to its initial supporters and backers as a reward for their early interest.
Despite a strong debut at $0.77, XAI coin couldn’t maintain its initial price surge, temporarily dropping to $0.45. However, it quickly rebounded, with the price jumping from around $0.60 to an impressive 87% increase within just one and a half days.
The rally was further fueled by Binance’s announcement of listing XAI token, leading to even more pronounced price movements. This listing has significantly contributed to the token’s visibility and trading volume.
Additionally, the XAI team rewarded early Xai NFT collectors with an airdrop, which doubled the value of the total airdrop from an initial estimate of $70 million to $140 million. With the price expected to fluctuate between $1.070 and $1.466, a potential 35% increase to $1.466 is anticipated, raising investor curiosity about the future price trajectory ahead of a potential bull run.