XYO held more than 30% rallies as the project filled a significant strategic position before its anticipated layer -1 blockchain launch.
XYO $ 0.0236 reached a high level, which is 77% from its lowest point this week, while its market cap press has crossed $ 305 million as time. Altcoin’s trading volume rose 335% in the last 24 hours, exceeding $ 37 million, indicating an increase in buying pressure.
The rally took a damp of 3.9% in the last 24 hours as a comprehensive crypto market. While writing, Bitcoin (BTC) was 1.5% below, while other major altcoins, such as ethereum (eth), XRP (XRP), Solana (SOL), and Dogecoin (DOGE), all traded in red, between 4 Damage posting 6%.
At its current price, XYO is about 320% compared to the previous year, but its all -time high is 73% below $ 0.813, reaching three years ago.
Why is XYO growing today?
XYO rally after project Announced Recruitment of sky as a strategic advisor. Moot, a member of a Forbes Business Council, an official influential person for Benns, and a managing partner in Elevate Ventures, ATF Capital, and Sky Ventures, to help guide the blockchain project before the much awaited launch of his layer. The advisory will join the team. –1 Blockchain Network Set for Q1, 2025.
XYO Price has also benefited from publicity before launch. Dub ‘Xyo Layer One’, Layer -1 blockchain will have multichane support facility and will be served as the backbone of XYO ecosystem. This will reportly the facility of applications in various fields, including AI models, blockchain equipment, real -world property management, and dipin.
Investors have also shown interest in AltCoin recently Entry Turkish Crypto Exchange on Bitsi. The platform has allegedly enabled trading to Altcoin with Turkish Lira and USDT pairs.
Additionally, speculation about a possible collaboration with electric car giant Tesla is growing within the Crypto community, many people are expected to finalize today.
XYO price action
On the 1-day/USDT price chart, XYO is broken above the descending trendline formed by adding high height to the daily movements of altcoins, indicating a strong rapid reversal from its recent downtrend.
The price of Altcoin has increased above the 50-day and 200-day moving average, suggesting that the bulls dominate the market.
In addition, the MACD lines and the relative power index reading have pointed upwards, meaning XYO can continue its rally in the coming days.
Market commentators share similar expectations. According to ForkedThoughs, XYO has formed a vertical falling channel pattern in the last two months. He said that if Altcoin manages to break down the upper limit of the channel, it can rally up to $ 0.055- $ 0.066 range in the short term, a faster target of $ 0.10- $ 0.20 by the end of the year.
XYO was above 30%in press time, exchanging hands at $ 0.0232 per coin.
