Blockchain-based farming and social sport Pixels launched its PIXEL token this Monday, seeing a notable enhance in worth after its debut.
Following a collection of play-to-airdrop campaigns and a Binance Launchpool rewards program, the token has seen a noteworthy enhance in worth, with a 22.7% rise on its debut day, in accordance with CoinGecko data.
Based mostly on its circulating provide, the PIXEL token is buying and selling at over $0.58, propelling its market capitalization to $441 million. This valuation locations PIXEL among the many prime 200 cryptocurrencies by way of market worth. Roughly 771 million PIXEL tokens are circulated from a complete provide of 5 billion, indicating a possible totally diluted valuation exceeding $2.8 billion.
Main cryptocurrency trade Binance facilitated the token’s launch via its Launchpool platform, providing 350 million PIXEL tokens to customers who staked Binance Coin (BNB) or the FDUSD stablecoin. Following this, Binance listed PIXEL for buying and selling.
Pixels additionally introduced a 20 million PIXEL airdrop over the weekend for customers who staked Ronin’s RON token, additional incentivizing participation within the community. Regardless of a dip in Ronin’s value early Monday, it has gained 17% over the past week, reaching a two-year excessive of $3.49 earlier this month.
Pixels, paying homage to basic farming video games like Harvest Moon and Stardew Valley, integrates a crypto token economic system with NFT-based land plots and pets. Initially developed on the Polygon community, the sport migrated to Ronin, a sidechain centered on gaming, final fall. This transfer has considerably contributed to the adoption of Ronin, which noticed its each day energetic customers bounce from round 20,000 final fall to roughly 700,000 not too long ago.