NEWSLETTER
Key notes
- nft Marketplace X2Y2 has announced the suspension of operations before April 30.
- X2Y2 once was the second largest nft negotiation platform after OpenSea. The firm is exploring the role of artificial intelligence in decentralized finances (DEFI).
The non -fungible token market (nft) X2Y2 has announced that it will <a target="_blank" href="https://mirror.xyz/x2y2.eth/85DG2KcKmJd1AiyXU7BU2yATys1hgxWWXju_pmESwYI” target=”_blank” rel=”nofollow”>Closing operations On April 30, 2025, it marked the end of a three -year trip that once saw it arise to the second largest nft market after Opensa.
The platform, which accumulated a cumulative negotiation volume of $ 5.6 billion, said that the decrease in nft negotiation volumes, despite a brief increase in November, and network problems affected the base and user operations of X2Y2.
Go to the community
The founder of X2y2, TP, went to the community, remembering the platform trip since its beta launch on February 6, 2022.
He recognized the past success of the market, including its peak as the second largest nft platform and its impressive commercial volume.
<blockquote class="twitter-tweet”>
2/ What a trip has been. We feed how the second largest nft market behind OpenSEA, reached $ 5.6B in negotiation volume, and even today is the third largest in space. I am immensely grateful to our incredible community that made this possible. pic.twitter.com/0B0MWIWC2F
– TP | X2y2 (@tp_x2y2) <a target="_blank" href="https://twitter.com/tp_x2y2/status/1906621917634945273?ref_src=twsrc%5Etfw”>March 31, 2025
However, he pointed out that despite the efforts of the team, the strong decrease in nft's commercial activity and the loss of network effects made it clear that continuous operations were no longer viable.
While the platform will close, its intelligent contracts will remain functional, allowing users to access them if necessary.
A pivot for cryptographic innovation with ai
Instead of seeing this as an end, TP emphasized that the closure of X2y2 marks the beginning of a new approach.
During the past year, the team has been exploring the role of ai in decentralized finances and plans to build a new project focused on the generation of performance without permission promoted by ai.
The objective is to create a long -term sustainable value proposal instead of following short -term market trends.
<blockquote class="twitter-tweet”>
5/ We are building something new: performance in a way without permission, driven by ai. It is decentralized, innovative and designed to create the value cycle after the cycle, not only driving trends.
– TP | X2y2 (@tp_x2y2) <a target="_blank" href="https://twitter.com/tp_x2y2/status/1906621922424844657?ref_src=twsrc%5Etfw”>March 31, 2025
The founder urged the community to stay compromised, assuring them that the next initiative of the team will be built with innovation and longevity in mind.
Impact on the token x2y2
After the ad, the token x2y2 6.54% fell In the last 24 hours, reaching $ 0.001541.
During the past year, it has suffered a significant decrease of 90% and now occupies the 3836 position in Coinmarketcap. The exponential (EMA) mobile average of 20 days at $ 0.0017545 presents immediate resistance for the token x2y2.
TP acknowledged that the value of the Token was closely linked to the vision of the nft market, and the closure would inevitably affect its price.
Although he recognized the challenges, he said that the change towards solutions promoted by ai would finally create a greater long -term value for the community.
Source: TrainingView
According to the previous table, it is clear that the relative force index (RSI) has entered over -sale levels for the token x2y2, while the line gradient suggests one more disadvantage.
On the other hand, the price action of the ALT -coin is breaking the lower end of the Bollinger (BB) bands, losing crucial support. If the band less than $ 0.0015853 is not claimed soon, X2y2 faces the risk of greater inconvenience.
The end of an era for x2y2
The closure of X2y2 is indicative of broader struggles in the nft sector, which has seen a decrease in interest and liquidity in recent years.
Instead of continuing to fight for relevance in a small market, the team has chosen to turn to ai and decentralized finances.
next
Discharge of responsibility: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to offer precise and timely information, but should not be taken as financial or investment advice. Since market conditions can change quickly, we recommend that you verify the information on your own and consult a professional before making any decision based on this content.
A cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the cryptographic and financial world, collecting experience and experience in space after surviving the markets of bears and bulls over the years. Parth is also the author of 4 self -edited books.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
