DePIN Sector Is Heating Up As XYO Crypto Surges +200% Following Tesla Partnership Speculation

XYO Price Volume in 24h Price 7d , a decentralized physical infrastructure network project, has seen its native token of the same name spike more than 200% over the past 24 hours.

The $440 million market cap DePIN token is currently trading at around $0.033, while at this time yesterday, it was worth roughly $0.0117. As well as price, trading volume for XYO has also spiked massively. As recently as December 2, it had logged just $20 million in volume.

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Recent Surge In Price Puts XYO As The Top Gainer On Coingecko

In the past 24 hours, the volume for XYO is north of $280 million, more than a 10x increase from just a few days ago, per Coingecko. This recent surge in price for XYO has placed it number one for gains of any token within the top 500 cryptocurrencies by market cap.

As of right now, the 200%+ gains of XYO is more than double of every other token within the top 5. Moo Den (MOODENG) 96.4%, Reserve Rights (RSR) 88.6%, CatSlap (SLAP) 86.7% and aixbt by Virtuals (AIXBT) 80.5% make up the top 5 of the top gainers list on Coingecko.

What Has Caused The XYO Pump?

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The reason behind such an insane pump from XYO can largely be attributed to the increased attention paid to the DePIN narrative. Also, strong rumours are circulating of an upcoming Tesla partnership. Whispers had already begun circulating on social media, peaking yesterday after the XYO co-founder made a post on X. Scott Scheper took to X, saying; Confirmed. “Next Thursday December 12th I’ll be visiting a Tesla hardware installation center for the XYO cybertruck”.

This post from the co-founder all but confirmed the rumours and has led to increased attention on the DePIN project. Investors will await feedback from the December 12 meeting to see if any official announcements are made from Elon and/or the Tesla social media team.

What Is XYO Crypto?

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XYO offers a decentralized physical infrastructure network with key features, including consumer software, developer tools, and digital assets. The XYO ecosystem, with its native XYO token at the core of the project, supports and incentivizes users for data sovereignty.

Per the project website, XYO can be broken down into the following four products:

XYO Ecosystem – A complex protocol and node-based DePIN technology that can be integrated into any web3 or web2 product.

COIN – A mobile app that allows users to earn rewards by contributing data to XYO’s decentralized infrastructure.

xyOS – Its native operating system powers XYO’s decentralized network of nodes.

xNS – A blockchain-based name system (similar to ENS for Ethereum), that enables users to claim their own unique, decentralized identities.

BONUS: Another Of Coingecko’s Top Gainers, SLAP, Is Up 85% Following Alleged $500k Buys From Jump Trading Group

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The hottest new cat meme coin Catslap ($SLAP) is attracting big whales. A wallet supposedly linked to Chicago-based trading firm, ‘Jump Trading’, has purchased nearly $500,000 of SLAP over the past two weeks. The buys began on November 23, 7 in total and no more than $21,000 per buy.

Clearly, the firm has seen something bullish in the future of SLAP, as they executed three more purchases yesterday. One was only for $1448.5 while the other two were $189,312.77 and $167,360.15, totalling more than $357,000 of buys in just one day.

Including their buys from November 23, Jump Trading has spent $472,290 on SLAP, and its bag is now worth over $695,000. Interestingly, the US-based trading firm has yet to make a single sale.

There is a good chance that Jump Trading is playing the long game, hoping to start taking profits once SLAP becomes a billion-dollar meme coin by market cap.

Another interesting point of note is that such a large trading firm has bought a hefty 6-figures of SLAP less than 48-hours before the projects huge announcement. There are strong rumours that a Tier-1 exchange, such as Binance, is on the way for CatSlap, which would make sense as to why whales are loading up here rather than buying from Binance at massively increased prices.

Visit Catslap Token website or Best Wallet to buy $SLAP

EXPLORE: 21x Fintech Platform Granted EU Approval To Launch A Tokenization Platform

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Disclaimer

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