14. April 2024

• Radix’s XRD token has outperformed the crypto market by a wide margin, with its price reaching a 12-month high of $0.15 on Tuesday.
• The surge in price was due to Radix’s March fundraising, led by DWF Labs, and optimism about an upcoming upgrade called Babylon.
• Babylon will introduce smart-contract functionality to the network, allowing developers to create powerful decentralized applications.

Radix’s XRD Token Beats Wider Crypto Market

Radix’s XRD token has more than doubled in the past 30 days, becoming the best-performing top 100 cryptocurrency during that period. The XRD price reached a 12-month high of $0.15 on Tuesday and its market capitalization is now at $1.16 billion making it the 46th-largest coin in the market. This is in stark contrast to the 5% increase seen in total crypto market capitalization over the same time frame.

Fundraising Drives Price Surge

Radix’s March fundraising, led by market maker and investment firm DWF Labs, and optimism about an impending upgrade seem to have galvanized investors’ interest in the token driving up prices significantly. The fundraising round gave Radix a valuation of $400 million and caused a 15% rally on March 23 when it was announced.

Upcoming Upgrade

The upgrade coming for Radix is called “Babylon” which will introduce smart-contract capabilities to Radix allowing developers to create powerful decentralized applications as of last month there were already over 50 projects developing or planning projects on Babylon before it even launches this July 31st.

Conclusion

Overall, Radix’s XRD token has seen significant success this past month due to increased investor interest driven by their successful fundraising round and anticipation for their upcoming Babylon upgrade which promises great things once released later this year.

Takeaways

•Radix’s XRD token has outperformed the wider crypto market significantly with its surge in value reaching a 12-month high of $0.15 on Tuesday •This increase can be attributed to their March fundraising round as well as anticipation for their upcoming upgrade “Babylon” which will introduce smart contract functionality •As of last month there were already over 50 projects being developed or planned with Babylon highlighting how much potential people believe it can have