Kraken Listing for XYO Follows $8.8M 2024 Revenue
XYO Network will list its XYO token on Kraken today, expanding its centralized exchange reach beyond Coinbase, KuCoin, MEXC, Bithumb and Gate.io. The Kraken listing follows a report of $8.8 million revenue for 2024 from XYO’s SEC filing. The move is expected to boost liquidity and trading volume for XYO, as past listings on major CEX platforms lifted its price by up to 50%. Co-founder Markus Levin says the Kraken listing reflects a market shift toward revenue-driven crypto projects. Founded in 2018, XYO is among the largest DePIN projects, with over 10 million nodes processing Proof of Location and Proof of Origin data. XYO recently launched its own Layer-1 blockchain under a dual-token model: XYO for governance and staking, and XL1 for transaction fees and smart contracts. This Kraken listing cements XYO’s growing presence across top exchanges and could catalyze further price gains.
Bullish
The Kraken listing for XYO and its strong 2024 revenue of $8.8M is a bullish signal. Historically, new exchange listings, such as April’s Bithumb debut, drove XYO’s price up by 50% within days. Listing on Kraken, a top 20 spot exchange by volume, will likely increase XYO’s liquidity and visibility. In the short term, traders may respond with heightened buying activity, spiking the token price. Over the long term, sustained performance and revenue-driven growth could attract institutional interest, stabilizing the market for XYO. The move also reflects broader market maturation, where exchanges favor projects with solid revenue and sustainable models. Overall, this announcement is expected to boost trader confidence and support upward momentum in both price and trading volume.