X2Y2, an NFT marketplace, will be making a key opening soon. A total of 12.5 million treasure tokens and 25 million team-owned tokens will be unlocked. However, the project emphasized that they will not specifically sell unlocked coins. This has pleased investors and the price of the altcoin project has increased by over 20 percent in the last 24 hours. Here are the details…
Altcoin price appreciates after X2Y2 announcement
X2Y2 released an update on Twitter reassuring its community that the team will not be selling any unlocked tokens. The NFT marketplace expects 12.5 million treasure tokens and 25 million team tokens to be unlocked within 24 hours. In a tweet that followed, X2Y2 wrote:
However, we are proud to announce that the X2Y2 team will not be selling this upcoming unlock or any tokens that have ever been unlocked in the near future. The team is also keeping its promise not to sell unlocked tokens that it has held since it first unlocked. Our belief in the future of X2Y2 is unwavering and we are committed to [growth] with our long-term owners.
https://twitter.com/the_x2y2/status/162151121489186819
After this announcement, the altcoin price rose from $0.18 to $0.22, gaining close to 20%. It is currently changing hands at $0.20 with an increase of 13%. The coin recorded an all-time high of $4.17 on February 17, 2022. In other words, it seems to have collapsed 95 percent in almost a year. Still, it’s not hard to guess that the cryptocurrency has suffered from the overall market drop.
X2Y2 follows major NFT marketplaces
cryptocoin.com As we have also reported, the NFT market entered the market in February last year. Since then, LookRare has lagged behind OpenSea and Blur and has experienced a significant drop in transaction volume. However, X2Y2 has retained enough users who only follow OpenSea and Blur. It also records more daily sales on average than LookRare.
The platform is also one of the few platforms that fully respects creator fees after enforcing OpenSea’s policy. The leading NFT marketplace introduced an on-chain tool last September that mandates that all platforms impose royalties on all collections. Along with the price increase, the trading volume of the coin has also increased significantly in the last 24 hours, reaching $10 million. X2Y2 token now has a market cap of $36.8 million despite the crypto winter.
