Pixels Trading Volume Hits $1.2 Billion as Ethereum Gaming Token Tops Major Coins

PIXEL, the Ethereum token of standard blockchain recreation Pixels, has racked up greater than $1.2 billion value of buying and selling quantity since launching Monday morning, in line with information from CoinMarketCap.

That makes it the tenth most-traded cryptocurrency throughout the complete market, based mostly on the greater than 8,800 cash that CoinMarketCap tracks. Which means extra PIXEL has been traded than among the hottest cryptocurrencies, together with Avalanche (AVAX), Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC) over the past day.

It’s additionally by far the most-traded gaming token over the previous day. Subsequent up behind it’s XAI, the token of Arbitrum’s layer-3 gaming community, which has racked up $278 million value of buying and selling over the previous day. XAI set a brand new all-time excessive worth on Sunday after launching in January.

No different gaming coin has topped even the $200 million buying and selling quantity market throughout that span. In third place is Ronin (RON), the community that Pixels runs on, with $150 million value of buying and selling quantity over the previous day. Pixels awarded 20 million PIXEL tokens to RON stakers in a shock airdrop introduced over the weekend.

The PIXEL launch was lengthy awaited by crypto players. Pixels has seen surging participant accounts over the previous few months after it migrated from Polygon to Ronin final fall, utilizing play-to-airdrop campaigns to drive engagement and in the end reward some 28,000 of the highest gamers.

PIXEL is already up about 15% at this time to a present worth of about $0.58, yielding a market cap of $450 million based mostly on the present circulating provide of about 771 million PIXEL. It rose as excessive as practically $0.69 earlier Monday, however has settled by practically 15% since.

Edited by Ryan Ozawa.