PIXEL Token of Popular Blockchain Game Pixels Surpasses $1.2 Billion in Trading Volume
The Ethereum token of the popular blockchain game Pixels has achieved more than $1.2 billion in trading volume since its launch on Monday, making it the 10th most-traded cryptocurrency in the market, according to data from CoinMarketCap.
PIXEL has surpassed the trading volume of popular cryptocurrencies such as Avalanche, Dogecoin, Cardano, and Polygon over the last day.
In addition, PIXEL is currently the most-traded gaming token, with XAI, the token of Arbitrum’s layer-3 gaming network, coming in second place with $278 million worth of trading volume.
No other gaming coin has reached even $200 million in trading volume during this period. Ronin, the network that Pixels operates on, ranks third with $150 million worth of trading volume in the past day.
The Long-Awaited Launch of PIXEL
The launch of PIXEL was highly anticipated by crypto gamers. The game has experienced a surge in player accounts after migrating from Polygon to Ronin and implementing play-to-airdrop campaigns to engage players and reward top performers.
Rising Value and Market Cap
Since its launch, PIXEL’s value has increased by approximately 15%, reaching a current price of around $0.58. Its market cap is estimated at $450 million based on a circulating supply of about 771 million PIXEL tokens.
While PIXEL reached a high of nearly $0.69 earlier on Monday, it has since experienced a decrease of approximately 15%.
Hot Take: The Success Story of PIXEL
PIXEL’s impressive trading volume demonstrates the strong demand for gaming tokens within the cryptocurrency market. As the most-traded gaming token and the 10th most-traded cryptocurrency overall, PIXEL has solidified its position as a popular choice among crypto enthusiasts and gamers alike.
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