X Empire Introduces $X Holder Status with Exclusive Rewards for Token Holders

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As a seasoned researcher and crypto enthusiast with years of experience navigating the complex world of digital currencies, I find the $X Holder Status initiative by X Empire to be a promising step towards fostering community engagement and incentivizing long-term holding.

empire_x has introduced a fresh scheme called “$X Holder Status” to recognize and reward its $X token owners. This program was recently publicized within the Telegram-based tap-to-earn game, where it’s stated that users can simply log in through their X Empire app, link wallets containing $X tokens, and confirm their eligibility for special perks.

In the provided image, the team clarified that an individual qualifies as an $X holder if they have maintained a positive balance of $X throughout the past 30 days. This means that such a user can receive rewards without needing to freeze or transfer their tokens. Instead, all that’s required is keeping their digital asset in an on-chain wallet.

The app provides an intuitive platform where users can link their digital wallets and track their advancement. However, assets kept in centralized exchange platforms are not considered for eligibility. To become eligible as a holder, The X Empire recommends moving your holdings to personal wallets like the Telegram wallet. Moreover, the rewards grow larger based on how long users keep their tokens and the amount they possess.

As a proud holder of $X, I’m thrilled to know that we might get extra airdrops from our partners. This added bonus serves as an even greater motivation for me to stay actively involved and committed in the community.

$X Holder Status

Currently, you’re able to access the X Empire app, link your wallet containing $X tokens, and verify whether you meet the criteria to be an $X token holder.

As a reminder, $X holders will receive additional Airdrops from partner projects.

Note: If your tokens are on an exchange, you’ll…

— X Empire (@xempiregame) November 17, 2024

Community Reactions and Program Challenges

Through this undertaking, Empire X aims to foster a vibrant and interactive environment for its user base, enhancing the value of having $X tokens. Yet, there’s been a surge in questions from users who find themselves perplexed about the program’s workings. Some users assert they have securely stored their tokens in designated wallets, such as their Telegram wallet, but their token balance remains at zero, contrary to their assertions of ownership.

These complaints have prompted questions about the accuracy and reliability of the process.

Market Impact and Future Potential

It seems that the incentive system is boosting the market value of the $X token. In fact, its price has jumped over 2% within the last 24 hours at the time of writing. Moreover, trading volume has also risen significantly by more than 12% during the same period. Notably, this is a positive change for the $X token, following a 50% drop in its value over the past week.

The strategy of incentivizing token holders by offering rewards after 30 days might lead to extended holding times, thereby possibly decreasing the available supply and strengthening price stability if demand persists. Furthermore, providing perks such as airdrops from collaborating projects could enhance the appeal of owning the $X token, boosting community interaction and attracting fresh investors.

Starting from today, Binance‘s announcement on November 13 about incorporating $X into their Perpetual Contract lineup, offering up to 75 times leverage, has led to the initiation of this incentive program. This move expands the possibilities for users to engage in trading activities involving the token.

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2024-11-18 15:30