PIXEL, an Ethereum-based token and native cryptocurrency of social Web3 blockchain games Pixels, registered strong 18% gains within 24 hours of launch. At press time, the PIXEL price is up 15% trading at $0.5873 with a market cap of $452 million.

PIXEL Trading Volume At $1.4 Million

What’s more interesting about the PIXEL cryptocurrency is that its 24-hour trading volume has shot past a massive $1.4 billion. It currently ranks as the seventh-largest cryptocurrency in terms of daily trading volumes.

This means that during the past day, PIXEL has seen more trading activity than several well-known cryptocurrencies, such as Dogecoin (DOGE), Avalanche (AVAX), Cardano (ADA), and Polygon (MATIC).

Over the past day, PIXEL stands out as the most actively traded gaming token, surpassing its counterparts by a significant margin. Following closely behind is XAI, the token associated with Arbitrum’s layer-3 gaming network, which recorded a trading volume of $278 million within the same timeframe. Notably, XAI reached a new all-time high price on Sunday since its launch in January.

Comparatively, no other gaming coin managed to achieve a trading volume exceeding $200 million during this period. Rounding out the top three is Ronin (RON), the network supporting Pixels, with a trading volume of $150 million over the past day. In a surprising move over the weekend, Pixels rewarded RON stakers with 20 million PIXEL tokens through an unexpected airdrop.

The launch of PIXEL was highly anticipated by crypto gamers, with the platform experiencing a surge in player accounts in recent months. Since its migration from Polygon to Ronin last fall, Pixels has employed play-to-airdrop campaigns to boost engagement, ultimately rewarding approximately 28,000 of its top players.

What is Pixels?

Pixels (PIXEL) introduces players to an immersive social casual Web3 game experience, powered by the Ronin Network. Within this captivating open-world environment, players can also indulge in farming, exploration, and creativity to their heart’s content.

Now, let’s delve into the diverse roles of PIXEL, the native utility, and governance token, within the Pixels universe:

1. In-game Currency: PIXEL serves as the primary currency within the game, facilitating various transactions and purchases.
2. NFT Minting: All future NFT creations from Pixels will be exclusively available in PIXEL, adding value and uniqueness to digital assets.
3. VIP Membership: Elevate your gaming journey by acquiring a VIP Battle Pass using the native token, unlocking exclusive perks and benefits.
4. Guilds: Foster social connections and camaraderie by joining Guilds, an engaging social-fi feature within the game, accessible through the native token.
5. Quality of Life Upgrades: Users can also enhance their gameplay experience with premium in-game features and enhancements, obtainable with PIXEL tokens.
6. Governance: Beyond transactions, PIXEL holds a pivotal role in governing the community treasury, ensuring community involvement and decision-making.

Pixels launched on Monday with multiple play-to-airdrop campaigns along with the Binance Launchpool reward program. The alternative cryptocurrency project employed play-to-airdrop campaigns to boost engagement, encouraging participation and ultimately distributing rewards to the top 28,000 players.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.