XMON Token Slumps by 90% amid Uncertainty

03/02/2023 05:33 • NFT Newsflash • 114 views

It is reported that, according to Paidun data, XMON, the native token built by Sudoswap developer 0xmons for summoning neural network to generate pixel monster NFT platform, experienced a short-term slump of more than 90%. According to coingecko data, the current XMON has dropped from $25000 to $3666.92, with a decline of 85.3% in the past 24 hours. The community user @ lumpsugar53 said it might be related to the release of XMON pledge. In addition, the future XMON token is likely to have nothing to do with Sudoswap governance. In January of this year, Sudoswap released the governance token SUDO and launched lock-in and airdrop. Early sudoAMM LP (only limited to the transaction pool) and 0xmons NFT holders (before the snapshot date) were eligible to obtain SUDO airdrop, while XMON holders could obtain SUDO tokens through lock-in activities. After that, after being locked for 1 month from the contract deployment, each locked XMON could obtain 10000 SUDOs.

Or a short-term slump of more than 90% due to pledge unlocking of XMON

Interpret the above information:

The XMON token, built by Sudoswap developer 0xmons to summon neural networks and generate pixel monster NFTs, has experienced a drastic short-term slump of over 90%. Coingecko data reveals that XMON has plummeted from a high of $25,000 to $3,666.92, indicating an 85.3% decline over the past 24 hours.

This unprecedented drop in XMON’s value has raised several concerns among investors and the community. According to @lumpsugar53, a community user, the sudden decline could be linked to the release of XMON pledge. However, there is no clear evidence to support this claim.

Furthermore, speculation is rife that the future of the XMON token may not be associated with Sudoswap governance. In January of this year, Sudoswap launched SUDO, the governance token, with lock-ins and airdrops. Early sudoAMM LP and 0xmons NFT holders were eligible for the SUDO airdrop, while XMON holders could access SUDO tokens through lock-in activities. Each locked-in XMON could earn 10,000 SUDOs after being locked for one month from the contract deployment.

The community’s uncertainty surrounding XMON’s future governance implies that investors may exit the token after the slump, causing its value to drop even further. Besides, given the volatile nature of the cryptocurrency market, the sharp decline of XMON’s value warns investors about the potential risks of investing in the token.

On a positive note, the Sudoswap platform’s technological approach to generating pixel monster NFTs using neural networks continues to attract interested parties. HashFox, an institutional mining operator, has exhibited interest in SudoSwap’s technology to develop game applications on its platform.

In conclusion, the recent slump in XMON’s value has raised concerns among investors and the community. With its future governance uncertain, investors face high risks and may exit the token, causing its value to drop even further. However, Sudoswap’s technology that generates pixel monster NFTs using neural networks continues to be of interest to industry players.

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XMON Token Slumps by 90% amid Uncertainty

Or a short-term slump of more than 90% due to pledge unlocking of XMON

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