UChain, a layer 1 blockchain, has continued to development sideways regardless of the market downtrend. $UCN, the native crypto of the chain, is at present buying and selling at roughly $864 and has a market capitalization of round $86 million.
Excessive shortage has been cited as one of many causes for UCN’s ongoing consolidation, alongside its utility-centric focus.
Restricted Provide Leveraging Provide-Demand Narrative
UChain has a restricted provide of 100,000, which is 210 instances smaller than Bitcoin. UChain’s block explorer has revealed that no extra tokens might be minted, as builders have renounced contract possession.
On prime of that, 50% of the whole provide is locked in staking, which additional limits the availability to present UCN a hyper deflationary mannequin.
Diversified Ecosystem of UChain
UChain gives a number of options that official paperwork say are meant for on a regular basis use. These embody:
- UTrading gives automated buying and selling bots for BTC/USDT and UCN/USDT pairs on MEXC, BingX, and HTX. It encompasses a return cap by license tier, which suggests as soon as customers hit the cap, the bot stops.
- UWallet is a non-custodial pockets that helps over 20 cryptocurrencies. It’s built-in with UDefender for chilly storage.
- UDefender is a {hardware} NFT pockets holding a part of the mnemonic phrase. Transactions are confirmed by tapping the UCard on a smartphone.
- UCard is a crypto debit card used for leveraging crypto for each day transactions. It’s built-in with Apple and Google Pay. Transactions are restricted to €10,000 each day and €100,000 month-to-month.
UCN Token Utility Defined
$UCN serves three capabilities throughout the UChain ecosystem. First, it’s used for fuel charges, which UChain implements as bandwidth factors. Second is staking, which provides customers further community sources, voting rights, and governance participation. Lastly, governance entails choosing 27 tremendous representatives who validate transactions and, in return, earn block rewards.
Upcoming Options of UChain
In line with the official documentation, further options are coming. These embody UTrading growth, NFT performance based mostly on the URC-721 commonplace, and a multi-wallet administration characteristic alongside the total UWallet launch.
Remaining Ideas
$UCN’s continued consolidation regardless of the market downtrend is seen as a internet constructive for a utility-centric ecosystem. It might be potential for the crypto to take care of its present momentum and even surge if the macroeconomic circumstances grow to be conducive.
