On January 29, XYO experienced a remarkable surge of over 65%, reaching an intraday high of $0. 025, as it bounced back from a downtrend that had lasted since December. Data from crypto. news indicates that the XYO Network (XYO) climbed by 40% in the past day following the announcement of XYO Layer One, with its price jumping from $0. 0157 to $0. 0224 at the time of this writing. Concurrently, the asset’s market capitalization grew by 42%, reaching approximately $312 million, while trading volume skyrocketed by an astounding 1100%, nearing $86. 7 million. On January 28, XYO unveiled its own Layer-1 blockchain, named XYO Layer One, which is intended to form the foundation of its ecosystem. This blockchain, supporting multiple chains, is expected to enable applications across diverse sectors, including AI models, blockchain utilities, management of real-world assets, and decentralized physical infrastructure networks (DePIN). Market analysts noted that the altcoin has recently broken free from a falling wedge pattern, deemed a bullish signal, which positions the token for likely further gains. Additionally, rumors regarding a potential partnership with electric vehicle manufacturer Tesla have gained traction within the community. When these rumors emerged, XYO saw a staggering 125% jump within less than 24 hours in early December 2024. Another element potentially bolstering XYO’s current rally is its identity as a U. S. -based project. Recent reports suggest that Eric Trump has proposed a 0% capital gains tax for U. S. -based cryptocurrency projects to foster blockchain innovation.

Although Eric Trump is not a policymaker, his remarks are seen as indicative of a broader trend within the Trump administration. The prospect of such a tax incentive has sparked speculation, particularly regarding projects like XYO, which might attract more investors looking for potential tax benefits. Currently, XYO has risen 327% over the past year, with a circulating supply of approximately 13. 93 billion tokens. **What is XYO Crypto?** XYO serves as the governance and utility token for the decentralized physical infrastructure network project of the same name. It drives the XYO ecosystem by supporting applications for consumers, developer tools, and digital assets. The network is structured to enhance data sovereignty, rewarding users for contributing to and maintaining precise location-based information, with the XYO token acting as the cornerstone of this system.