Why is eCash (XEC) going up? (July 6, 2023)

eCash is a digital currency created during the July 2021 hard fork of the Bitcoin Cash network that emerged as a result of a Bitcoin hard fork. eCash was previously known as Bitcoin Cash ABC (BCHA). eCash’s native token, XEC allows for direct transfers between its users and enables payments for products and services. It is also used to stake within the network’s governance system.

XEC is up 19.55% in the last 24 hours. XEC rose alongside its predecessor, Bitcoin Cash (BCH), after BlackRock filed a spot Bitcoin ETF application with the SEC and EDX Markets went live.