XYO, the cryptocurrency powering the XYO Network, a decentralized physical infrastructure (DePIN) project, saw a massive price jump.
A Big Price Surge
The token shot up almost 44% on Friday following a listing on Bithumb, a major South Korean crypto exchange. This news sent the price even higher, with XYO now trading at $0.0154. The coin has also seen impressive gains over the past week, up over 71%.
What is the XYO Network?
The XYO Network aims to handle all sorts of decentralized data. It uses a network and protocol to collect, verify, organize, and use data from any device running compatible software. A key feature is its decentralized verification system, where devices act as witnesses for each other, ensuring data accuracy.
Network Upgrade and Dual Tokens
The project recently announced a move to a new layer-1 blockchain, and introduced a new token, XL1, to work alongside the existing XYO token. XYO will remain on the Ethereum network, acting as a control mechanism for XL1 on its new blockchain.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before investing in cryptocurrencies.
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