What Does X Mean in Crypto? Explanation and Examples

The letter "X" pops up in various corners of the cryptocurrency world, and its meaning can shift depending on the context. From ticker symbols to social media platforms, understanding the different interpretations of "X" is key to navigating the crypto landscape. Let's break down the most common ways "X" is used in crypto.

"X" as an ISO Currency Code Prefix for Non-national Cryptocurrencies

You've likely encountered cryptocurrencies with ticker symbols starting with "X," such as XBT for Bitcoin or XMR for Monero. This isn't random; it follows the ISO 4217 standard, an international system for representing currencies.

Supranational Currencies

According to this standard, the prefix "X" is reserved for currencies that are not tied to any specific country. Think of it as a designation for supranational or non-national currencies. This is similar to how precious metals like gold are represented as XAU and silver as XAG in traditional financial markets.

Examples

• XBT: While BTC is more common, XBT is an ISO-compliant ticker for Bitcoin, emphasizing its global nature.
• XMR: The ticker for Monero, a privacy-focused cryptocurrency.
• XLM: The ticker for Stellar, a network focused on facilitating cross-border payments.
• XRP: The ticker for Ripple, a technology aimed at enabling global payments.

Why the "X"? This prefix signals that these digital currencies are intended for international or global use and are not under the jurisdiction of a single nation's central bank. It helps distinguish them from traditional fiat currencies like USD (United States Dollar) or EUR (Euro).

Also Read: What is the XXX Token in Crypto?

"X" as the Name of a Specific Crypto Token or Coin

Beyond the ISO prefix, "X" can simply be the name or ticker symbol of a particular cryptocurrency project. 

Just like any other digital asset, a token named "X" would have its own price, market capitalization, and trading volume, tracked on various cryptocurrency exchanges. In this case, the "X" doesn't inherently carry the ISO meaning but is just the identifier for that specific project.

"X" as a Symbol for Twitter (Now X) and Its Crypto Ambitions

The rebranding of Twitter to "X" has introduced another layer to the meaning of "X" in the crypto conversation. Given the platform's large user base and the increasing interest in digital payments, "X" now often refers to the company's potential foray into cryptocurrency integration or the development of its own payment system, sometimes referred to as "X Money." This usage is specific to the social media platform and its evolving plans within the crypto and fintech space.

Also Read: XXX vs ECXX: Difference Between Them

"X" as Mathematical Notation in Cryptography

In more technical contexts, particularly within cryptographic literature, the lowercase "x" is frequently used as a variable in mathematical expressions. 

For instance, it might denote a set, a key, or a component within a cryptographic algorithm. While crucial for understanding the underlying technology of cryptocurrencies, this usage is not specific to cryptocurrencies as tradable assets.

Why Do Some Cryptocurrencies Use the Prefix "X"?

As highlighted earlier, cryptocurrencies adopt the "X" prefix in their ticker symbols to align with the ISO 4217 international currency code standard. This signifies their status as non-sovereign or supranational currencies, meaning they are not issued or controlled by any single country. This convention aims to:

• Enhance Clarity: Differentiate them from national fiat currencies.
• Facilitate Integration: Potentially ease integration with traditional financial systems and international transactions.
• Signal Global Scope: Emphasize their worldwide usability.

Conclusion

The meaning of "X" in crypto is multifaceted. Most commonly, when it appears at the beginning of a ticker symbol, it indicates a cryptocurrency that is not tied to a specific nation, adhering to international standards. 

However, "X" can also be the name of a specific cryptocurrency, refer to the social media platform X (formerly Twitter) and its crypto ambitions, or serve as a mathematical variable in cryptographic contexts. To accurately interpret "X," always consider the surrounding context.

Also Read: What is XXXX? The Real Definition and Context in Crypto

FAQ

What does the "X" in XBT, XMR, and XRP stand for?

In these ticker symbols, the "X" is a prefix that follows the ISO 4217 standard for currencies that are not tied to any specific country. It signifies that these cryptocurrencies are supranational or non-national.

Is there a cryptocurrency called "X"?

Yes, there can be cryptocurrency projects with the ticker symbol or name "X." The meaning of "X" in this case is simply the identifier for that specific digital asset.

Does "X" in crypto always mean it's not a national currency?

Primarily, yes, when it appears as a prefix in a ticker symbol. However, it can also refer to the social media platform X (formerly Twitter) or be the name of a specific cryptocurrency project. Context is crucial.