The grounds behind MXC’s 200% increase are a growing partnership network, the capacity to mine multiple cryptocurrencies at once, and a resurgence in interest in blockchain-focused IOT technology.
Due to its profitable nature and detrimental effects on the environment, cryptocurrency mining has grown in popularity over the last few years.
A new class of inexpensive mining protocols with low-power network technologies has emerged as a result of Web3’s debut and the growing number of Internet of Things (IoT) devices. These include LPWAN or LoRaWAN, which are made to send low-bit-rate data over great distances.
MXC, a Web3 infrastructure protocol intended to offer geolocation-based LPWAN coverage to IoT devices worldwide, is one such technology that has seen recent growth.
The price of MXC has increased 200% since its low of $0.046 on January 1 to reach a new all-time high of $0.139 on January 19, according to data from Cointelegraph Markets Pro and TradingView.
The earning potential of the MXC miners, which can mine multiple cryptocurrencies at once, the launch of a one-week shipment for new mining devices, and an increasing, global ecosystem of partners and independent mining nodes are three elements that are boosting MXC’s growing momentum.
Mining Variety May be Beneficial
Many new players have established themselves in the IoT mining industry in recent years, with initiatives like Helium (HNT) and Nitro Network (NCASH) providing LoRaWAN-based networks that send data in exchange for the native HNT and NCASH tokens.
To provide coverage for IoT devices that may simultaneously mine various cryptocurrencies, including Bitcoin, MXC, and DataHighway (DHX), MXC has adopted a novel approach that makes use of a low-power wide-area network (LPWAN).
The MatchX M2 Pro LPWAN miner, which costs EUR 2,499 or $3,299 on Amazon, is used by the MXC network together with the DataDash app, which enables users to control its miners and payouts.
The Bitmain Antminer S19 Pro requires 3,250 watts, but the M2 Pro miner just needs 5 watts. This makes the M2 more suitable for people who don’t have a lot of money to invest in a sizable mining operation.
It will take a total of eight months to return the initial investment, according to one user’s self-report, who claims that the M2 Pro miners have been yielding between $8 and $10 each day.
Access M2 Pro Effortlessly
The addition of one-week shipping for new M2 Pro orders is another factor contributing to MXC’s growing popularity.
To ensure the general well-being and long-term viability of LPWAN networks, extensive coverage must be attained. The rate of growth is aided by making it simple for those who are interested to acquire mining equipment.
Other networks, notably Helium, have had miner shipment delays, which has caused friction and some cancellations as users bemoan the wasted mining time and resources that could have been used more effectively elsewhere.
The MXC network has 18,186 nodes worldwide because of the ease with which interested parties can acquire the M2 Pro.
Introducing F-NFTs and Bringing on Future Partners
The network of MXC is growing, new partner projects are joining, and there are plans to incorporate functional nonfungible tokens or F-NFTs.
To develop promotional incentives for users from abroad, the protocol has worked with Matcha, and the team is now in discussions with Huobi exchange.
Additionally, MXC announced a new collaboration with Radom Network, which would give the community access to a dashboard for the information that MXC disseminates from its global network of M2 Pro miners.
To broaden the community and functionality of the MXC Data Republic, MXC has disclosed intentions to introduce F-NFTs in addition to working with other organizations.