Abstract
- Kraken itemizing provides to XYO’s present CEX portfolio, which incorporates Coinbase, KuCoin, MEXC, Bithumb, and Gate.io.
- Itemizing comes after XYO reported $8.8 million in income for 2024.
- XYO is a DePin undertaking that not too long ago launched XYO Layer One, its personal Layer-1 blockchain.
In keeping with a press launch shared with crypto.information, XYO (XYO), the token of a pioneering DePIN undertaking, will likely be listed on Kraken Change at present, becoming a member of its present lineup of main centralized exchanges, together with Coinbase, KuCoin, MEXC, Bithumb, and Gate.io.
The itemizing on Kraken, ranked among the many prime 20 exchanges by spot buying and selling quantity on CoinMarketCap, is predicted to considerably enhance XYO’s liquidity and buying and selling exercise, with the potential to offer XYO crypto worth a serious enhance. The token’s earlier itemizing on Bithumb in April lifted its worth by 50%.
Kraken’s resolution to checklist XYO crypto follows the corporate’s report of $8.8 million in income for 2024, as disclosed in its SEC submitting.
Markus Levin, co-founder of XYO, commented on the event, highlighting the way it displays the broader shift within the trade towards revenue-driven initiatives:
“Within the final cycle, in the course of the ICO increase, tokens have been being launched and listed at breakneck velocity primarily based on whitepapers and hype. Metrics like social media followers and Whole Worth Locked (TVL) had a a lot larger sway throughout that interval. Right now, because the trade matures and U.S. regulation takes form, the main focus has shifted towards companies that function like profitable firms in the true world, with income, profitability, and sustainable fashions as key indicators. Exchanges are aligning with this shift, and we’ll see extra of those companies thrive.”
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What’s XYO crypto?
Based in 2018, XYO is the primary and one of many largest DePIN initiatives, working over 10 million nodes worldwide. The community collects and validates real-world knowledge by its Proof of Location and Proof of Origin applied sciences, supporting purposes in asset monitoring, DePIN options, and interactive gaming.
XYO operates by two entities—a nonprofit basis and a for-profit firm, XL Labs—which has secured SEC approval for a Regulation A providing and tokenized shares buying and selling on tZERO. The XYO crypto serves governance and staking features throughout the ecosystem.
The undertaking’s newest milestone is the launch of XYO Layer One, its personal Layer-1 blockchain designed for high-throughput, low-latency real-world knowledge processing. Beneath the dual-token mannequin, the present XYO crypto token serves governance and staking features, whereas the brand new XL1 token manages transaction charges, good contract execution, and community rewards, separating governance from operational utility.
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