Pixels, a blockchain-based farming and social game, introduced its PIXEL token on Monday, experiencing a substantial surge in value following its debut.
After conducting various play-to-airdrop campaigns and participating in the Binance Launchpool rewards program, the token witnessed significant growth, with a 22.7% increase on its first day of trading, as reported by CoinGecko.
Trading at over $0.58 based on its circulating supply, the PIXEL token propelled its market capitalization to $441 million, positioning itself among the top 200 cryptocurrencies by market value. With approximately 771 million PIXEL tokens in circulation out of a total supply of five billion, the potential fully diluted valuation exceeds $2.8 billion.
Binance, a leading cryptocurrency exchange, facilitated the token’s launch through its Launchpool platform, offering 350 million PIXEL tokens to users who staked Binance Coin (BNB) or the FDUSD stablecoin. Following the launch, PIXEL was listed for trading on Binance.
In addition to the Launchpool initiative, Pixels announced a 20 million PIXEL airdrop over the weekend for users who staked Ronin’s RON token, further incentivizing engagement with the network. Despite experiencing a slight dip in price early Monday, Ronin’s value surged by 17% over the past week, reaching a two-year high of $3.49 earlier in the month.
Pixels, reminiscent of classic farming games like Harvest Moon and Stardew Valley, integrates a crypto token economy with NFT-based land plots and pets. Initially developed on the Polygon network, the game migrated to Ronin, a sidechain focused on gaming, last fall. This transition significantly contributed to the adoption of Ronin, with daily active users skyrocketing from around 20,000 last fall to approximately 700,000 recently.
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