The XO Protocol has been making waves in the cryptocurrency market recently, showing strength at a time when many altcoins are struggling. Let us see what is behind this price movement and why investors are paying attention to the token.
XOXO price has demonstrated resilience amid market volatility. Initially surging by 100% over just three days, the token seen some declines but still maintains a 20% increase overall. This performance stands out particularly because it is happening during a period when other altcoins are generally not performing well.
Powerful Backing from Industry Giants
One of the most compelling factors driving interest in XOXO is its impressive list of backers. The protocol has secured support from some major players like Rakuten Japan, the largest listed company in Japan, has thrown its weight behind the project. This association with a well-established corporation brings significant credibility to XOXO.
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The XO protocol token has also gained backing from Techstars and Cyber, along with other investors including Expara Ventures, Protege Ventures, and even the Taiwan Government Fund. The SMU Fund rounds out this impressive roster of supporters. These partnerships are not just about funding, they reflect confidence in XOXO approach to combining social networking with blockchain technology.
🌟XO is live on Cyber mainnet🌟
We are excited to announce the collaboration with @BuildOnCyber✨
As a dating app with 1.5M downloads, we are ready to provide all the users a safe and rewarding environment for their amazing cryptomance journey💓
And we appreciate all the… pic.twitter.com/dzIjSdUHHN
— XO 👽 Web3 Friend-making (@XO_app) May 17, 2024Exchange Listings Driving Visibility
XOXO has already secured listings on two major cryptocurrency exchanges: KuCoin and MEXC. This accessibility has contributed significantly to its trading volume and market visibility.
The excitement is building with news that two more centralized exchange listings are in the pipeline, potentially opening XOXO to even more traders.
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Rising in the Web3 Social Space
The protocol has quickly climbed the ranks to become one of the top Web3 social platforms. It’s now growing to be a threat to major competitors in the space, including established names like Lens Protocol and Open Social. This competitive edge comes from XO’s unique approach to social discovery.
XO Protocol integrates AI and blockchain technologies focused on creating secure social networking experiences. The platform utilizes Soul-Bound Tokens (SBTs) and Proof of Personhood (PoP) mechanisms to verify user identities and prevent fraud.
This technological foundation supports XO broader mission of redefining meaningful connections in the digital space, addressing common issues in traditional social media platforms.
