$XMON Token Plummets as the $SUDO Lock-Drop Period Ends

The value of $XMON token, introduced by Sudoswap's creators, has drastically dropped by 85% in the span of 24 hours, plummeting its value to $3,500. The token holders were previously able to lock their $XMON tokens to receive Sudoswap's governance token, $SUDO, through a lock-drop mechanism.

The rapid decline in XMON's price could be linked to the $XMON unlock, and that future $XMON tokens may have no correlation with Sudoswap governance. Moreover, Twitter user, @apes_prologue, analyzed that with the transition of Sudoswap's sole governance token to $SUDO, $XMON's primary value proposition will be limited to an NFT collectible. In the absence of any new functionality planned for $XMON, its value is expected to decrease significantly after the lockdrop period ends.