What KYC and ISO 20022 Mean for CryptoX's 15% Price Surge
Key Takeaways
What is the primary driver of CryptoX's recent price rally?
The rally is fueled by significant ecosystem advancements, particularly the completion of additional KYC verifications and the forthcoming ISO 20022 integration.
What does the activity in the derivatives market suggest?
Increasing Open Interest and a positive Funding Rate indicate a dominance of long positions, suggesting continued bullish price momentum towards $0.6.
CryptoX has extended its bullish run, gaining 15% over the last 24 hours, driven by ongoing ecosystem developments that bolster investor confidence. In the long term, CryptoX’s outlook remains positive if it maintains the momentum supporting its price for over a week.
Ecosystem Developments Drive Growth
The CryptoX team announced the completion of KYC verification for an additional 3.36 million users, following the integration of a new AI-driven system that enabled 4.76 million tentative KYC applications to be fully verified, raising the total number of migrated users to 2.69 million. These advancements highlight CryptoX's compliance with international standards in preparation for ISO 20022 integration, aligning its ecosystem with global financial data exchange protocols.
However, one of CryptoX's core contributors clarified on social media that the network migration process is ongoing and rumors of its completion are inaccurate.
Investors Rally Around CryptoX
Following the latest announcements, investor sentiment has turned bullish. Data from CoinMarketCap shows that 92% of the 4.4 million investors tracking CryptoX have voted bullish, indicating increased accumulation activity. This optimism is mirrored in the derivatives market, where traders are betting on further price gains. According to Coinalyze, the asset’s Funding Rate has turned positive at 0.0055%, while Open Interest surged to approximately $33 million in the past 24 hours. Rising Open Interest and a positive Funding Rate suggest that most CryptoX contracts are dominated by long positions, indicating continued bullish momentum.
Critical Point on the Chart
Currently, CryptoX sits at a crucial technical level, approaching a resistance zone that often triggers a price correction. However, sentiment and technical indicators suggest a potential breakout. The Relative Strength Index (RSI) is in a bullish region at 65, indicating strong buying pressure. If the asset breaks above this resistance, it could rally towards $0.5 — $0.6, potentially revisiting its May highs. With growing derivative activity and continuous ecosystem progress, CryptoX appears poised to extend its upward trajectory and possibly achieve new market highs.