NFT Marketplace X2Y2 Token Rallies as Team Refuses to Sell Unlocked Tokens
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NFT marketplace X2Y2 announced that it will not sell any of its tokens when they unlock later today. The announcement has sent the value of the X2Y2 token up by 12.2% in the last 24 hours.
X2Y2 developers said on Feb. 3 that their refusal to sell showed that their faith in the marketplace remains steadfast and that they are committed to its growth.
> Over 35 Million X2Y2 Tokens Unlocked
According to the marketplace, the scheduled unlock would release over 35 million X2Y2 tokens —12.5 million treasury tokens and 25 million Team tokens — into the market. A significant token unlocks of this nature usually increases the selling pressure on a token shows data fro Kaiko.
However, the team’s assurance that it will not sell any of the tokens from this unlock or subsequent unlocks appears to have made investors bullish.
With the recent price spike, X2Y2 has recorded a market value increase of 262.10% in the last 30 days. This positive price performance has seen the token’s value go from a low of $0.054 on Jan. 1, 2023, to as high as $0.21 over the reporting period.
> 🗃️ Source
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