eCash comes from bitcoin as successor coin to the BCHA fork but operates in a different way
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eCash is the bitcoin successor that promises to do things a bit differently. So what is eCash (XEC)? What is eCash used for? How does eCash work? What is the eCash price prediction? Let’s see what we can find out.
eCash explained
The crypto is, ultimately, based on bitcoin. It’s the successor coin to the BCHA fork of the bitcoin cash crypto. Bitcoin cash (BCH) came into being when there was a split among the people behind bitcoin, with some developers believing that bitcoin’s value stemmed from it being a method of payment and others who were more interested in the technical aspect of the blockchain. This ideological division led to a fork in the coin. The former group took over the old fork and created bitcoin cash. This was not the end of the argument, though, as bitcoin cash also forked, creating Bitcoin SV. Then Bitcoin cash split. This is where eCash begins.
On 15 November 2020, the Bitcoin Cash blockchain forked again, with one part staying as the bitcoin cash that we have today, while the other became the Bitcoin Cash ABC chain. This chain had its own cryptocurrency, known as BCHA. Over the course of the next few months further changes were planned. In the summer of 2021, BCHA announced that it would be redenominating itself and rebranding as eCash, or XEC. eCash is used as a method of exchange, allowing people to buy and sell things online without the need for a bank account.
Confusingly, eCash is not the same thing as Ecash. Ecash, with a capital ‘E’ and lower case ‘c’, is one of the very first examples of something that, in a manner of speaking, ended up turning into cryptocurrency. Ecash (not eCash), created by scientist David Chaum in 1983, was used for microtransactions by the Mark Twain Bank in Missouri in the mid 1990s, and ended up dying out – despite offering its users the chance to experience the sort of privacy we now associate with cryptocurrencies as a whole.
eCash price history
It’s now time to take a look at the eCash price history. While past performance is no indicator of future results, it is useful to see how the coin has behaved in the relatively short time that it’s been operating. It can help us contextualise an eCash price prediction.
eCash has, in its current form, been trading on the open market since July 2021. On 8 July, it opened trading at $0.00002803. It remained around that point for another six weeks or so. In late August the crypto started to catch on. Coupled with the resurgence of the cryptocurrency market as a whole, this was good news for the XEC price. There was a significant bull run, with the price rising from $0.00007999 on August 26 to $0.0003868 on 4 September, a rise of more than 380% in little over a week. This high point could not last, but throughout September and October it was operating above the $0.0001 level.
A spurt of activity on 10 November saw it reach an all time high of $0.005112 before dropping to around where it had been before. There was still some bad news ahead, though, as a market slump caused, at least in part, by uncertainty surrounding the omicron variant of Covid-19 saw eCash caught in the downturn. It closed the year at $0.0001082. January saw further decline, with the coin trading at $0.0000936 on 18 January, when there were 18.954 trillion XEC in circulation out of a maximum supply of 21 trillion. At the same time, eCash had a market cap of around $1.774bn, making it the 64th largest cryptocurrency by that metric.
eCash price forecast
Long-term forecasts, especially ones for something as volatile as a cryptocurrency, are very often wrong. We also need to note that many longer-term crypto forecasts are made using algorithms, which can change at a moment’s notice.
With that in mind, Price Prediction has made an XEC price forecast. It suggests that the token could reach an average of $0.00014865 in 2022 before rising to $0.00020775 in 2023 and $0.00029318 in 2024. The site forecasted an average price of $0.00043432 for 2025, hitting $0.00063102 in 2027, $0.001 in 2028 and end the decade at approximately $0.002. The eCash price prediction does not foresee any movement in 2030, with the crypto staying at $0.002 and rising to $0.004 in 2031, according to Price Prediction.
CryptoNewsz indicates that eCash will end up settling around the $0.0006 mark towards the end of 2022. In 2023, the eCash price prediction sees it start at around $0.000816 before getting as high as $0.001400 at the end of the year. In 2024, it could start at $0.00139, before hitting an average of $0.0016 and potentially reach a high of $0.0021 at the year’s close. The site’s eCash price prediction for 2025 sees the coin hit $0.0022309 by May before finishing the year at $0.002510. For 2026, CryptoNewsz thinks it will trade at an average of $0.000856.
TechNewsLeader has an eCash price prediction for 2022 of as much as $0.00013720, moving to a potential high of $0.00020723 in 2023 and $0.00030409 in 2024. For 2025 and 2026, it sees eCash reaching $0.00046381 and $0.00066092, respectively. In 2027, the crypto can get as high as $0.00093263, the site thinks, while 2028 might well see it drop a zero and rise to $0.001. The XEC price prediction then sees it move to $0.002 in 2029 before starting the new decade at $0.003 and then rising as high as $0.004 in 2031.
Finally, Wallet Investor thinks that the eCash coin price prediction for 2023 is $0.000283, reaching $0.00100001 in early 2027.
Final thoughts
A few final things to mention. eCash is, at its heart, a fork of a fork of a fork of Bitcoin. Whether it can, after its rebranding, step out of its predecessor’s shadow remains to be seen.
The coin operates in fractions of a cent. While there is nothing wrong with this in and of itself, the very small price can, potentially, put people off investing in the crypto.
The coin differs from bitcoin in one important way. It uses a type of proof-of-stake consensus mechanism which should, at least in theory, make it one of the greener alternatives in the world of crypto.
For what it’s worth, the consensus mechanism is called Avalanche. It should not to be confused with the blockchain of the same name, nor with that blockchain’s coin, AVAX.
Finally, while XEC is focused on being a method of exchange, there are other cryptos, such as the original BTC, that could also lay claim to this use. We will have to see which one, if any, end up dominating the market.
FAQs
As of 18 January 2022, there were 18.954 trillion XEC in circulation out of a maximum supply of 21 trillion.
It could be. The forecasts are mainly optimistic. There is a space for a crypto based pretty much entirely as a method of exchange to take off. However, there is still going to be uncertainty. We don’t know whether XEC will be the one to do that. Maybe its use of a more ecologically-sound consensus mechanism might help it succeed, but that is far from certain. Crytos are highly volatile, high-risk assets. Either way, you will need to do your own research. Remember that prices can go down as well as up. And never invest more money than you can afford to lose.
It could. That said, it has been on a downward trend, along with much of the crypto market, lately. When and if it can rebound from that and deliver growth remains to be seen.
This is up to you. Before you do, you will need to do your own research. Remember prices can go down as well as up. And never invest more money than you can afford to lose.
