X2Y2 to Shut Down Operations on April 30, 2025
X2Y2, an NFT marketplace, will cease operations on April 30, 2025, after three years of activity. It was once the second-largest NFT platform, with a cumulative trading volume of $5.6 billion.
Key points:
- Declining NFT trading volumes and network issues prompted the decision.
- The founder TP reflected on the platform’s journey and acknowledged the challenges faced.
- Smart contracts will remain functional post-shutdown for user access.
- X2Y2 is pivoting towards AI-driven projects focused on decentralized finance and yield generation.
- The X2Y2 token dropped 6.54% to $0.001541 following the announcement, with a 90% decline over the past year.
- Current resistance for the token is at a 20-day EMA of $0.0017545; further downside risk exists if support isn't reclaimed.
This closure reflects broader struggles in the NFT market, leading the team to pursue AI innovations instead of continuing in a declining sector.