The cryptocurrency market is reeling from X's recent announcement regarding its new API policy, which prohibits InfoFi applications. According to the official information, this decision has triggered a wave of reactions across the industry, impacting various projects and their communities.
KAITO's Price Plummets
In the wake of the announcement, KAITO's price plummeted by more than 14% within just a few hours, reflecting the immediate market response to the news.
CookieDAO Terminates Snaps Service
Meanwhile, CookieDAO has announced the termination of its Snaps service, a move that will significantly affect numerous content creators who rely on the platform for their work.
Surge in Sell Orders for InfoFi Assets
The new policy has led to a surge in sell orders for assets related to InfoFi, as investors react to the uncertainty surrounding the future of these applications.
Developers Discuss Migration Strategies
Developers are now actively discussing potential migration strategies to alternative platforms, highlighting the growing concern over the sustainability of their projects in light of X's policy changes.
Amid the turmoil in the cryptocurrency market following X's API policy announcement, recent trading on Solana DEXs has faced execution failures due to liquidity fragmentation. For more details, see the full report on the trading issues.
