NFT marketplace X2Y2 announced that it will not sell any of its tokens when they unlock later today. The announcement has sent the value of the X2Y2 token up by 12.2% in the last 24 hours.
X2Y2 developers said on Feb. 3 that their refusal to sell showed that their faith in the marketplace remains steadfast and that they are committed to its growth.
🪙Regarding the Upcoming Token Unlock🪙
As many are aware, there will be a major token unlock that will take place in 24 hours. Specifically, 12.5M Treasury tokens and 25M Team tokens are set to be unlocked.
— X2Y2 (@the_x2y2) February 3, 2023
Over 35 Million X2Y2 Tokens Unlocked
According to the marketplace, the scheduled unlock would release over 35 million X2Y2 tokens —12.5 million treasury tokens and 25 million Team tokens — into the market. A significant token unlocks of this nature usually increases the selling pressure on a token shows data fro Kaiko.