The blockchain-based farming and social game Pixels launched its PIXEL token on Monday. The token saw a significant 22.7% increase in value after its debut, according to data from CoinGecko.
PIXEL is trading at over $0.56 based on the current circulating supply. This gives the token a market capitalization of $441 million, placing it among the top 200 cryptocurrencies by market value. Out of a total supply of 5 billion, around 771 million PIXEL tokens are currently circulated. The potential fully diluted valuation exceeds $2.8 billion.
Following this, Leading Exchange Binance has facilitated PIXEL’s launch via its Launchpool platform. It offered 350 million PIXEL tokens to users staking Binance Coin (BNB) or the FD/USD stablecoin. Binance then listed PIXEL for trading after the Launchpool event. Pixels also airdropped 20 million PIXEL tokens over the weekend to RON token stakers, further driving participation.
Pixels integrates crypto token economics with NFT-based land and pets, reminiscent of farming simulator games. Originally developed on the Polygon network, it shifted to the Ronin sidechain in the fall, targeting gaming. This move increased Ronin’s daily active users from 20,000 to 700,000.
Also Read: Binance Launches Web3 Game Pixels (PIXEL) on Ronin Network
