CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.1% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

XDC rises after euro-backed stablecoin EURS joins network

By Alara Jordan

Edited by Martyn Cornell

19:35, 20 December 2022

XDC to USD market price
$XDC’s market cap rose by more than 20% after the euro-backed integration was announced – Photo: Shutterstock

The XDC network was up almost 6% in 24 hours after announced it would integrate with STASIS, the issuer of one of the largest euro-backed stablecoins, to allow the EURS stablecoin on the XDC Network

XDC is a platform that describes itself as a EVM-compatible layer-1 hybrid blockchain solution that was created to support the global trade of business and finance.

Its market cap rose by around 20% after the integration was announced. At the time of writing, after drifting slightly from its peak for the day, XDC was trading at $0.02711, up just under 5% in the previous 24 hours.

XDC to USD

A Medium blog post by STASIS, promoting the STASIS coin, outlined the need for organisations to provide greater transparency at a time when uncertainty and volatility continue to dominate the crypto sector, and to ensure that users can remain as risk-free as possible.

ETH/USD

3,058.63 Price
-1.510% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

BTC/USD

51,219.35 Price
-1.040% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

XRP/USD

0.54 Price
-1.680% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

UNI/USD

10.64 Price
-1.020% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.08964

The blog post said: “Many stablecoin companies have tried to penetrate the market with various models, struggling to achieve notable adoption. By 2022, the STASIS-issued EURS has cemented its place as the most reliable asset in the euro stablecoin segment and even beyond for users, businesses, traders, merchants and pretty much everyone else involved in the cryptocurrency domain.”

XDC Network's native token, $XDC, has been dubbed one of the most antipcated tokens to watch for 2022 by investors, alongside projects such as Toncoin ($TON) and OKC Token ($OKC).

STATIS’s chief executive, Gregory Klumov, commenting on the partnership, said that now, more than ever before, companies are realising the “importance of transparency.”

Klumov said: “With the help of XDC, EURS gained support of new powerful tools and a new global community and enterprise participants. By now, we have enforced our brand sufficiently to see the need for our stablecoin become apparent in world markets. More companies are realising the importance of transparency, and this is a confirmation that we are doing our job right — educating the cryptocurrency community and improving the financial inclusion within Web 3.0.”

Related topics

Rate this article

Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 580.000+ traders worldwide that chose to trade with Capital.com

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading