Plasma Group Picks Film.io for XPL Market Development Amidst Market Scrutiny
Plasma Group has selected Film.io as its partner for the market development of XPL, the project's token. This news comes amidst rumors and stock market scrutiny, with Plasma CEO Paul Faecks recently addressing these issues.
Faecks clarified on October 10, 2023, that there have been no insider stock market sales and confirmed a lockup period for XPL holdings of investors and team members. Despite his reassurances, the stock market response was met with skepticism, and community sentiment remains cautious.
Faecks further confirmed that no team member has sold XPL tokens. All team-held XPL allocations are secured with a three-year lockup period and a one-year cliff period. Meanwhile, CoinMarketCap data shows XPL's current price at $0.92, with a market cap of $1.66 billion, and a 29.24% decrease in its 24-hour trade volume.
Analysts at Coincu suggest that regulatory scrutiny and evolving sentiment are influencing token behaviors and security measures, emphasizing the need for robust compliance frameworks. Faecks also denied involving Wintermute as a market maker, stating that the current circulating supply comes from public sales and liquidity allocations.
Plasma Group's choice of Film.io for XPL's market development has sparked stock market scrutiny, with Plasma CEO Paul Faecks addressing rumors and clarifying stock market sales and lockup periods. Despite his statements, community sentiment remains alert. Stock market data shows a decrease in XPL's trade volume, and analysts highlight the importance of strong compliance frameworks in the current regulatory environment.
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