PIXEL launches with $441m market cap, Ronin gamers receive airdrop tokens
Blockchain-based farming and social sport Pixels launched its PIXEL token this Monday, seeing a notable improve in worth after its debut.
Following a sequence of play-to-airdrop campaigns and a Binance Launchpool rewards program, the token has seen a noteworthy improve in worth, with a 22.7% rise on its debut day, based on CoinGecko information.
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 absolutely diluted valuation exceeding $2.8 billion.
Main cryptocurrency alternate Binance facilitated the token’s launch by means of 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, harking back to basic farming video games like Harvest Moon and Stardew Valley, integrates a crypto token financial 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 every day lively customers bounce from round 20,000 final fall to roughly 700,000 just lately.
