X2y2, once in a leading market for cannot be said to tokenThe S (NFT) closes on April 30, ending a three -year running that has seen a short trail exchange only opening the trading volume during the NFT Boom of 2021.
The decision will come as the broader NFT market continues to release. Trade volumes have dropped nearly 90% since their peak, the team wrote in a PostAnd X2Y2 struggles to maintain network effects that are critical to market success.
“Marketplaces live or die by network effects,” the founder of the TP wrote in a post. “After three years, it’s time to move on.”
X2Y2 began in early 2022 and reached $ 5.6 billion all -time trading volume, according to data from Tokenterminal.
Smart contracts tied to the platform will remain operational, but are encouraged by users to withdraw the property or transfer activity by shutdown date. The market’s native token price of the market has dropped 10.7% in the announcement that will now trade a little to $ 0.001. The token has lost 97.7% of its value over the past two years.
The team said it was pivoting on a new project involving the AI-powered, decentralized financial tool.
