XYO Token Jumps 45% After Layer One Blockchain Launch
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XYO, the native token of the decentralized network, has experienced a price jump of approximately 45%, following the launch of XYO’s Layer One blockchain.
On January 28, XYO launched the Layer One blockchain, which is designed to securely store and share data, aiming to improve collaboration across technologies.
It acts as a unified system that connects different blockchains, as well as Web2 and Web3 technologies, making it easier for businesses and projects to adopt blockchain without losing control over their data.
This launch is a key part of XYO’s Decentralized Physical Infrastructure Network (DePIN) and focuses on efficient data management. It will give particular benefits for applications like AI, Decentralized Physical Infrastructure Networks (DePIN), and Real-World Asset (RWA) management, offering users control over their data.
After this launch, the price of XYO surged to 45% and reached around $0.025 in the last 24 hours. At the time of writing, the XYO is trading at around $0.023. The market cap has surged to $320.06 million, which is a 34.55% jump, and trading volume skyrocketed by 1,276.60% to $89.44 million.
XRO is the main token for the Decentralized Physical Infrastructure Network (DePIN) project, which powers the XYO ecosystem. The network rewards users for providing and maintaining accurate location-based data, with XYO tokens being used as the currency for this system.
A recent boost for XYO’s growth could be linked to speculation about the U.S. government potentially introducing a 0% capital gains tax on U.S.-based cryptocurrency projects.
Although Eric Trump, who isn’t a policymaker, suggested this idea, it has raised hopes that such a tax policy might be adopted, which could attract more investors to projects like XYO.
