eCash price prediction: What is eCash (XEC)?

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The successor to BCHA, eCash is derived from Bitcoin but operates in a different way. What is the latest eCash price prediction?

eCash logo against a black and red background                                 
Can eCash emerge from Bitcoin’s shadow? – Photo: Shutterstock
                                

Contents

eCash is the Bitcoin successor that promises to do things 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 is 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 more interested in the technical aspects 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, because Bitcoin Cash also forked, creating Bitcoin SV. Then Bitcoin Cash split again, which is where the eCash story 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, enabling 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 lowercase ‘c’, was 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. 

From the eCash whitepaper

The whitepaper states: “eCash is the natural continuation of the Bitcoin Cash project. Realising the vision of the legendary Milton Friedman, eCash follows through on key promises such as the innovative Avalanche consensus layer, while also introducing concepts never before seen in a Bitcoin project, such as staking, fork-free network upgrades and subchains.”

The document goes on to say: “XEC is already about 90% issued, and the dev team holds only a small amount relative to total supply. This means that new supply of XEC into the market will continue to be very limited.”

According to the authors of the whitepaper, this will limit future inflation.

eCash news and price history

eCash price history graph
eCash price history – Credit: Currency.com

It is now time to take a look at the eCash price history. While past performance is no indicator of future results, it can still be useful to see how the coin has behaved in the relatively short time it’s been operating, as doing so can help us to contextualise an eCash price prediction. 

eCash, in its current form, has been trading on the open market since July 2021. It opened trading at $0.00002803 on 8 July and 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 26 August 2021 to $0.0003868 on 4 September, a rise of more than 380% in a 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 2021 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. A market slump, caused at least in part by uncertainty surrounding the Omicron variant of Covid-19, saw eCash caught up in the downturn. It closed the year at $0.0001082. 

January 2022 saw a further decline, and by the end of the month, the coin was trading at $0.00007637. February saw a slight uptrend at the beginning of the month to a peak of $0.00009837, but XEC descended again to a new six-month low of $0.00007044 towards the end of the month. After that, there was a significant uptrend and the coin hit a four-month high of $0.0001611 on 2 April 2022. 

In March, eCash started “incubating” the Avalanche post-consensus integration. Once the node software testing phase is complete, anyone using eCash will be using the Avalanche post-consensus protocol by default.

However, these on-chain developments did little to help XEC dodge the long-running market downturn. There was a correction after the April highs and the coin traded sideways at around the $0.00007426 mark by 4 May. A steep crash in mid-May then saw the value sink to lows of $0.000026, representing a drop of 65% over the course of a few days. 

eCash recovered relatively well in the bear-dominated market, opening on 19 May at $0.00004961 following a successful network upgrade. Further to this, Kucoin announced on 9 June that services such as deposits and withdrawals of eCash were now available. However, on 13 June the total value of the crypto market dipped below $1trn, triggered by events such as the collapse of Terra Luna and Celsius.

The flash crashes towards the end of the second quarter of 2022 throttled both eCash and the wider crypto markets. By 24 August 2022 and at the time of writing, the coin was trading at $0.00003889. eCash has a market cap of around $745m, making it the 61st-largest cryptocurrency by that metric. 

eCash price forecast

Do bear in mind that digital forecasters use algorithms to make their predictions. While useful as a reference, they do not take into account certain fundamental factors or external market volatility. Therefore, checking forecasters’ XEC price predictions should be just one element of your investment due diligence.

With that in mind, PricePrediction has made an XEC price prediction that suggests the token could reach an average of $0.00005410 in 2022, before rising to $0.00008014 in 2023 and $0.00012104 in 2024. The site forecasts an average price of $0.00017933 for 2025, and suggests eCash could hit $0.001 in 2030.

TechNewsLeader has an eCash price prediction for 2022 of as much as $0.00005728, moving to a maximum of $0.00008736 in 2023 and $0.00012208 in 2024. In 2025 and 2026, it sees eCash reaching an average of $0.00017396 and $0.00025771, respectively. The site’s eCash price prediction for 2030 is for it to rise to around $0.001.

DigitalCoinPrice makes a bullish short-term projection, suggesting a value of $0.0000557 by the end of September, and $0.0000549 in December. The forecast for 2025 stands at a more modest $0.0000775, hitting $0.000178 in 2030.

CryptoNewsz’s prediction for 2023 states: “XEC price for 2023 starts at around $0.000155, the second half of the year eCash price forecast is to trade at $0.000167 value. The minimum price predicted for the year is $0.000128, but the chances of value reaching this level are less. The average price is predicted at $0.000147. The maximum price can be $0.000158 by the end of the year 2023.”

The site’s eCash price prediction for 2025 sees the coin start the year at $0.000237.

Finally, WalletInvestor makes a bearish eCash coin price prediction, suggesting the coin is a “bad, high-risk” investment option and will be down to $0.000006068 next year, and make no substantial recovery.

Final thoughts

A few final things to mention. Firstly, eCash is, at heart, a fork of a fork of a fork of Bitcoin. Whether it can step out of its predecessor’s shadow after its rebranding remains to be seen.

Secondly, the coin operates in fractions of a cent. While there is nothing wrong with this, the very low price might, potentially, put some people off investing in the crypto.

Thirdly, the coin differs from Bitcoin in one important way: It uses a proof-of-stake, not proof-of-work, consensus mechanism. This should, at least in theory, make it one of the greener options in the world of crypto.

For what it is worth, the consensus mechanism is called Avalanche, 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, ends up dominating the market.

FAQs

How many eCash coins are there?

As of 24 August 2022, there are almost 19.2 trillion XEC in circulation out of a maximum supply of 21 trillion (91%).

Is eCash a good investment?

It could be. The forecasts are mainly optimistic, and there is space for a crypto that is based on a method of exchange to take off. However, there is still going to be uncertainty. We do not know whether XEC will be the coin to do that. Maybe its use of a more ecologically sound consensus mechanism might help it succeed, but that is far from certain.

Cryptos are highly volatile, high-risk assets and 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. 

Will eCash go up?

It could. That said, it has been on a downward trend lately, along with much of the crypto market. When and if it can rebound from that and deliver growth remains to be seen.

Should I invest in eCash?

That is up to you to decide. Before you do, you need to do your own research. Remember that cryptocurrencies are highly volatile, and never invest more money than you can afford to lose.

Further reading

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