NFT Marketplace X2Y2 Announces Suspension of Operations, Token Reserve

NFT marketplace X2Y2 has confirmed that it will cease operations on April 30 due to a decline in NFT volume and network issues.

NFT marketplace X2Y2 has announced that it will suspend operations on April 30.

X2Y2 was once the second-largest NFT trading platform after OpenSea. The company is exploring the role of artificial intelligence in decentralized finance (DeFi).

Non-fungible token (NFT) marketplace X2Y2 announced that it will shut down operations on April 30, 2025, ending a three-year journey as the second-largest NFT marketplace after OpenSea.

The platform, which has accumulated $5.6 billion in trading volume, said the decline in NFT trading volume, despite a brief surge in November, and network issues affected X2Y2's user base and operations.

Addressing the community

TP, founder of X2Y2, addressed the community, reflecting on the platform’s journey since its beta launch on February 6, 2022.

He acknowledged the marketplace’s past successes, including its peak position as the second-largest NFT platform and impressive trading volumes.

However, he noted that despite the team’s efforts, the sharp decline in NFT trading activity and the loss of network effects clearly showed that continued operations were no longer viable.

While the platform will shut down, its smart contracts will remain functional, allowing users to access them when needed.

A pivot point for AI-driven crypto innovation

TP does not see this as an end, instead, he emphasized that the closure of X2Y2 marks the beginning of a new focus.

Over the past year, the team has been exploring the role of AI in decentralized finance and plans to build a new project centered on AI-driven permissionless yield generation.

The goal is to create a sustainable, long-term value proposition rather than follow short-lived market trends.

The founder urged the community to stay engaged and assured them that the team’s next plans will be innovative and long-term oriented.

Impact on X2Y2 Token

Following the announcement, the X2Y2 token fell 6.54% in the last 24 hours, reaching $0.001541.

The token has seen a massive 90% decline over the past year and is currently ranked 3836th on CoinMarketCap. The 20-day exponential moving average (EMA) at $0.0017545 acts as an immediate resistance for the X2Y2 token.

TP admitted that the token’s value is closely tied to the vision of the NFT market and the closure will inevitably impact its price.

Despite recognizing these challenges, he insisted that the shift to AI-driven solutions will ultimately create greater long-term value for the community.

As can be clearly seen from the above chart, the relative strength index (RSI) has entered oversold levels for the X2Y2 token, while the gradient of the line suggests that there is room for further decline.

On the other hand, the altcoin’s price action broke through the lower end of the Bollinger Band (BB), losing key support. If the lower band of $0.0015853 is not reclaimed soon, X2Y2 will be at risk of further decline.

End of the X2Y2 era

The closure of X2Y2 is indicative of the broader struggles facing the NFT space, which has seen declining interest and liquidity in recent years.

Rather than continue to fight for position in a shrinking market, the team chose to turn to artificial intelligence and decentralized finance.