This week did not have a lot of news or announcements and most focus was on the upcoming network software upgrade on Monday November 15th around noon UTC. The increased interest of traders resulted in another week with a positive result breaking the negative trend of the weeks before. As development work continues on avalanche and features continue to be added to the CashTab.com wallet there was some relevant news and announcements from exchanges this week. Let’s take a look at what happened this week in eCash.
$XEC on Over 100,000 watchlists on CoinMarketCap
There have been numerous signs of eCash being on the radar of an increasing number of crypto traders. One such place where this type of thing becomes visible is the coinmarketcap website, where traders can elect to add certain coins to their crypto watch list. With the rebranding to eCash (XEC) first announced on July 1 of this year, it is remarkable that on Sunday Nov. 7 it showed that over 100,000 crypto traders have put XEC on their watchlist. It seems to indicate that increasing numbers of traders are aware the project is under very active development with lots of future improvements in the pipeline.
CoinEx Support XEC Network Upgrade
The next day on Monday Nov. 8, Coinex.com followed the example of Binance and let its users and the wider eCash community know that it is ready for the network upgrade of Monday November 15th which takes place on or around 12 noon UTC. The exchange announced it will close deposits and withdrawals an hour earlier at 11 AM UTC. These will be resumed as soon as the upgrade has been completed and the network is judged as being fully stable. Trading and inter-user transfers will continue as normal during the upgrade.
Exchange Coinbene Closing: Withdraw Coins If Possible
On Tuesday November 9 news reached the community that crypto exchange Coinbene had announced closing its services entirely. The notice published on November 3 tells users to withdraw their coins immediately and not later than November 15th as they plan to shut down the platform at that time. With XEC users complaining before that they were not able to withdraw their XEC from the website it is unknown if all their customers will indeed be able to get their coins out of the exchange. Providing customers with not even 2 weeks to withdraw coins will likely lead to many people learning of the situation too late to get their coins and tokens out.
It is events like this that reinforce the advice many crypto veterans always give: make sure to store your coins in a way that you own the private keys of the addresses that hold your coins. Not your keys, not your coins.
Coinmarketcap Glitch Causes Confusion
On Wednesday Nov. 10 a glitch on the coinmarketcap website led to confusion for many eCash (XEC) holders and traders. The otherwise quiet trading day showed a sudden price spike suggesting the price had jumped 10X without warning. The website system got further confused as this abnormally triggered it to push eCash back into the 200+ ranking category with all listed markets marked as giving untrusted data. Traders looked frantically where these trades at much higher price had taken place but it soon became clear that none of the exchanges showed the same data and Coinmarketcap competitor Coingecko.com showed a very normal chart with a more expected price. It later became clear it had not only been an issue for eCash but that the glitch on the website had affected the displayed data of many other coins also.
StealthEX Announces Nov. 17th AMA with Amaury Séchet
Also on Wednesday StealthEX exchange and the official eCash Twitter account announced eCash’s lead developer Amaury Séchet will join the StealthEX Telegram group on November 17th for an AMA (Ask Me Anything). The exchange further announced that the best 5 questions will share in a 250,000 XEC prize pool. The event is scheduled to take place on November 17th at 4 PM UTC. Please note that the 17th is a Wednesday and not Thursday as the Tweet reads.
Poloniex Breaks Silence and Completes Rebranding
eCash community members were pleasantly surprised on Wednesday with the Tweet by cryptocurrency exchange Poloniex announcing the completion of rebranding and enabling of deposits and withdrawals as also the preparations for opening an eCash (XEC) / USDT marketpair. As eCash NEWS Today reported half September, holders of BCHA had been left wondering what was going on when the exchange closed the BCHA/USDT marketpair at the end of July but did not proceed with rebranding and redenomination to eCash (XEC). With withdrawals closed and no announcement or communication, as time went on many feared they would never regain access to their coins.
Users now have been reporting successfully withdrawing their XEC even if some had to try a number of times as the exchange still had to iron out some wrinkles after the announcement was made. Overall very good news to see this issue resolved and to see an additional exchange listing an eCash(XEC) market pair.
Cain Looks Back On the 100 day Content Contest
Not quite finished but nearing its finale, the 100 day contest organised by Cain has inspired many to contribute in different ways to the eCash project and community. In an article named “Final Days” Cain looks back on how it all started, how someone surprised him with a generous donation towards his contest experiment and how the people participating and contributing proved to come from all walks of life and from all over the globe. One thing is sure, the contest has resulted in a very positive vibe that can be seen in the countless eCash graphics and other content that can be seen on Twitter and other social media every day.
eCash and SwapSpace Organize eCash Giveaway
On Thursday November 11 the official eCash twitter account announced partnering with swap exchange SwapSpace for a giveaway/contest. By following the ecashOfficial Twitter and the SwapSpaceCo Twitter accounts, liking and retweeting the giveaway tweet and tagging 3 friends in a reply to the tweet people enter to win a 250,000 XEC prize. The winner will be drawn randomly out of all the people that have completed the 3 requirements. The draw will take place on or shortly after November 17th
Bitcoin ABC Continues to Search For Talent
On Saturday November 13 the Bitcoin ABC team, through the official eCash Twitter account, confirmed they are still looking for more talented people to join their team. They are especially interested in finding skilled developers. The tweet reads:
“We are on the lookout for talent, especially skilled developers.If you're passionate about freedom, and want to build cool stuff, check out our careers page: https://e.cash/careers”
A quick look at the careers page shows there are still a number of positions open as C++ developers, front end (React) developers, full stack (node, react) developers and smart contract engineers can still apply for a position.
eCash Contest / Giveaway Update
Another week means another 7 winners of the daily 1,000,000 XEC prize that is part of the eCash content contest organised by CainBCHA. 7 more contenders for the 3 grand prizes totalling 50,000,000 XEC that will be awarded at the end of the contest to the best of those 100 daily winners. We are almost at the contest finale but for now let’s see who this week's winners are:
On Sunday November 7 this week's first winner, number 89 was @AndrewJardine9 aka u/jardine1980 on reddit for helping reddit users with good quality answers to their questions. Winner number 90 was Telegram user Phlip68 for helping countless people with many questions since even before eCash was ever created (including Cain himself). Cain noted: “The world can always use people who are willing to help others”. @RamokVan won 1 million XEC on Tuesday for being a true believer and never losing hope. @xecAfrica was named winner on Wednesday November 10th because of Africa’s potential for eCass adoption.
Prize number 93 was awarded to @eCashInformer for being someone worth a follow for always providing useful information related to eCash and constantly spreading positivity and enthusiasm. Friday
@Argentina_Ecash was named a winner because Cain wants to see more South Americans find the project and for running eCash nodes to support the network. Final winner during this Week in eCash was announced to be @BatalSarjana who has been producing great eCash related graphics while also spreading the message that this project isn't just about number go up but real technological development.
Day 95, winner @BatalSarjana
With that all the winners of this week in eCash are known. Only 5 daily winners are left to be announced and after that it will be very interesting to see which of the daily winners will be awarded one of the three grand prizes. Will it be one of the people that already won more than one daily prize or will it be somebody more unexpected. It is going to be exciting to see who the 3 winners are. But first we are looking forward to seeing the last 5 winners announced in the coming week.
Total prize money: 150 million XEC
Awarded to date: 95 million XEC
Still to be awarded:
5 million XEC in daily prizes and 50 million XEC in grand prizes
This Weeks Market Action
Coingecko.com shows another week of eCash (XEC) price trending up. Whether this was triggered by the upcoming network software upgrade on the 15th or by preparations for NFT functionality on the CashTab wallet, or perhaps there are further indications that avalanche is coming close to being released. It is all speculation.
It is however good to see the week close with a result of +3.7%. The week started with a price of $0.00019953 and after some midweek volatility resulting in a 7 day low of $0.00018842 followed by quick price rise to a 7 day high of $0.00021703, eCash markets closed the week with a price of $0.00020699 at the end of Saturday November 13th. With 24 hour trading volumes ranging from $65,540,544 on Monday and $466,381,858 at the end of the week on Saturday, the positive trend also resulted in winning one place on the ranking as eCash moved from #55 to #54.
As investors are eagerly awaiting the finalization and release of a production version of the avalanche work that has been done over the past year, it will be interesting to see if Amaury Séchet will give an update on what is happening with avalanche development and can give an updated ETA during his AMA on November 17th.
Follow eCash News and subscribe to our Telegram channel for eCash developments.
For information about contributing to eCashNEWS.Today
Publisher on Telegram @eCashNEWSToday, or email publisher@ecashnews.today