XYO Crypto Skyrockets: Kraken Listing & $8.8M Revenue Boom in

XYO Network just pulled off a double win—securing a Kraken listing and posting $8.8M in 2024 revenue. Not bad for a project once dismissed as 'geospatial hype.'

Kraken’s stamp of approval could turbocharge XYO’s liquidity, but let’s see if traders bite or if this becomes another crypto exchange shelf-warmer. Revenue’s up—now where’s the retail adoption?

Pro tip: Watch the order books. If the whales start circling, this could get interesting. If not? Well, at least the 2024 financials look better than most DeFi memecoins.

What is XYO crypto?

Founded in 2018, XYO is the first and one of the largest DePIN projects, operating over 10 million nodes worldwide. The network collects and validates real-world data through its Proof of Location and Proof of Origin technologies, supporting applications in asset tracking, DePIN solutions, and interactive gaming.

XYO operates through two entities—a nonprofit foundation and a for-profit company, XL Labs—which has secured SEC approval for a Regulation A offering and tokenized shares trading on tZERO. The XYO crypto serves governance and staking functions within the ecosystem.

The project’s latest milestone is the launch of XYO LAYER One, its own Layer-1 blockchain designed for high-throughput, low-latency real-world data processing. Under the dual-token model, the existing XYO crypto token serves governance and staking functions, while the new XL1 token manages transaction fees, smart contract execution, and network rewards, separating governance from operational utility.