HomeCryptoAltcoinXEN Crypto: the project responsible for 40% of all Ethereum transactions

XEN Crypto: the project responsible for 40% of all Ethereum transactions

XEN Crypto, created by an early Google engineer Jack Levin, has been the source of irregular Ethereum traffic. The token was responsible for the use of 40% of gas units last October. 

What is XEN Crypto?

XEN is a new crypto made with the goal of making the blockchain more decentralized, transparent, counterparty-free and peer-to-peer. It is an ERC-20 token, which is a smart contract standard that runs on the Ethereum blockchain, with the aim of making it easier for developers to work with.

Its creator Jack Levin and his team, call their social mining project a “universal cryptocurrency,” accessible to everyone.   

The token was first launched on the MEXC exchange, which is currently the most liquid trading platform for the cryptocurrency in question.  

The price of XEN opened at $0.006148 on 9 October 2022, then reached a high peak at $3.86 around 20 October 2022.

All participants in the XEN ecosystem can make use of Ethereum-compatible wallets to mint XEN. 

Why XEN is sending ETH into a deflationary mode

Ethereum is struggling to fulfill its post-merger promise to go deflationary. The bearish market and declining transactions on the network have caused concern among cryptocurrency and NFT enthusiasts, greatly reducing the minting of Non-Fungible Token on Ethereum. 

The XEN cryptocurrency operates through a participatory mechanism: all that is needed to mint the token is to pay gas fees. Undoubtedly, the launch of the cryptocurrency and this mode of its purchase aided Ethereum’s latest recorded growth in 2022. 

In fact, the launch of Xen Crypto caused Ethereum’s inflation rate to drop from 0.21% to 0.13%. 

The sharp increase in ETH transactions, largely caused by XEN, may turn into something very positive for the crypto market.

In the event that the demand for the Ethereum coin increases at the same time as a depleting supply of ETH, the market could change course, becoming bullish.

This could thus bring Ethereum into the deflationary mode that was promised before 2022, after the Merge. 

Who is the man behind the XEN Crypto project?

Jack Levin, a prominent investor who was born in Russia in 1974 and later moved to the United States with his family, was one of the first people to work for the Internet giant. Indeed, he claims to be employee number 21 at Google.

In 2010 he began to take an interest in Bitcoin, joining the crypto world, later creating the XEN project in 2022.

A project that Levin himself calls “revolutionary” and one that can change the world, even during these bearish times.  

Levin’s project has debuted strongly, but in a recent interview, the founder of the cryptocurrency claimed that there is still much work to be done and that the project will grow even more, fostering the spread from generation to generation. 

However, there are many doubts about Jack Levin’s identity. Many theories believe that Google employee number 21 is not Jack Levin, but rather Marissa Mayer, the first female engineer to be hired by Google and the CEO of Yahoo from 2012 to 2017.

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