The newly launched PIXEL token, which is connected to the well-liked blockchain game Pixels, has taken the cryptocurrencycurrency world by storm. According to CoinMarketCap, as of press time, PIXEL had already risen 15% on its first day of trading on Monday to an intraday high of $0.69 before settling at roughly $0.61. This puts it in the top 10 most traded cryptocurrencycurrencies.
Over the course of the same month, PIXEL’s trading volume surpassed prominent coins like Dogecoin, Cardano, and Polygon, surpassing a whopping $1.2 billion. After hitting its all-time high on Sunday, XAI was briefly displaced as the most traded gaming cryptocurrency asset by the video game token.
Analysts claim that Pixels players’ pent-up demand is reflected in PIXEL’s explosive launch. Gamers of cryptocurrencycurrency eagerly anticipated PIXEL’s release. Player accounts on Pixels have increased this year as a result of platform migrations.
Play-to-earn initiatives have given over 28,000 elite Pixels players PIXEL tokens since January. The game’s rise to more than a million active monthly players was facilitated by the rewards systems.
Transactions on the Pixels platform, such as purchasing character skins and opening up new farms, are powered by Pixel. To earn yields, token holders can also stake their tokens.
The introduction of the token follows a number of significant Pixel advances. Due to Polygon congestion, the game was moved to the Ronin sidechain last autumn.
Pixels recently revealed plans to introduce augmented reality and release a mobile app in order to increase accessibility and signal the next step in the development of blockchain gaming.
PIXEL’s outstanding beginning has not gone unnoticed. “This is only the start,” John Smith remarked. If the attitude surrounding the cryptocurrencycurrency market as a whole improves, he believes the token will continue to gain popularity.
New assets are typically volatile, but given the strength of the relationship to Pixels and the thriving cryptocurrencycurrency gaming market, Pixel appears to be well-positioned for further gains.
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