The XYO token, tied to a decentralized physical infrastructure project, saw a major price spike on Friday, climbing nearly 44% after scoring a new exchange listing.
South Korean trading platform Bithumb announced it would list the asset, bringing fresh attention to the project.
The XYO Network is designed to handle decentralized data across a wide range of devices, using a system where hardware nodes verify each other’s information to ensure data reliability. According to its creators, the project’s goal is to make decentralized data easy to collect, validate, organize, and apply.
In addition to the new listing, the project recently revealed plans for a significant upgrade. XYO will transition to a new DePIN-focused layer-1 blockchain and introduce a second native token, XL1.
Going forward, the network will operate with a dual-token system, with XYO continuing to live on Ethereum and serving as a regulatory bridge for the flow of XL1 into the new chain.
The team behind XYO believes these changes will strengthen the network’s infrastructure and broaden its use cases, positioning it as a core player in the growing DePIN sector.
By introducing a dedicated blockchain and new token model, the project hopes to boost scalability and attract a wider range of decentralized applications and partners.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/xyo-network-skyrockets-as-project-unleashes-dual-token-strategy/