The PIXEL token, used in the Pixels game on the Ronin blockchain, surged over 46% after being listed on Binance.
Binance’s listing of PIXEL offers various trading opportunities and requires holders to pass educational quizzes due to the token’s volatility potential.

Pixels (PIXEL), a gaming altcoin based on the Ronin blockchain, has seen a sharp increase in market value after it was listed on Binance, the largest cryptocurrency exchange in the world. This is a big step for the Web3 gaming industry. This milestone highlights the PIXEL project’s noteworthy accomplishment and increasing recognition in the gaming and digital asset communities.

Binance Integration Sparks Market Movement

The price of PIXEL surged after Binance revealed that it would be integrated into its platform. With a quick rise from a low of $0.4711 to a high of $0.6887, PIXEL showed an increase of more than 46%. The market capitalization of PIXEL steadied at a remarkable $441 million despite a minor retreat to $0.5916.

 

The listing of PIXEL by Binance opens up a number of trading and farming opportunities for it, such as listings on Binance Simple Earn, Binance Convert, Binance Margin, Binance Futures, and Binance Auto-Invest. With so many trading possibilities available, PIXEL is now more visible and accessible to a larger group of investors and gamers.

To mitigate the possible volatility linked to more recent coins, such as PIXEL, Binance has introduced a seed tag. This guarantees that owners of such assets know the dangers by requiring them to pass tests every ninety days. The educational strategy demonstrates Binance’s dedication to user safety and creates a welcoming atmosphere for newly emerging tokens.

PIXEL and the Growing Web3 Gaming Landscape

The Pixels game incorporates a cryptocurrency token economy with NFT-based land plots and pets, taking inspiration from vintage farming and exploration games like Harvest Moon and Stardew Valley. The choice to move to Ronin, a sidechain focused on gaming, after being first developed on the Polygon network, has been crucial. Ronin’s daily active user count increased from over 20,000 in the fall of last year to about 700,000 lately, which is evidence of Pixels’ contribution to the blockchain’s acceptance.

In addition to causing a substantial price increase, PIXEL’s listing on Binance has propelled the gaming token to the 200th rank of all cryptocurrencies in terms of market value. Considering that there are currently 771 million PIXEL tokens in circulation out of a possible 5 billion, the project’s fully diluted valuation might go higher than $2.8 billion. In addition to enhancing PIXEL’s standing in the cryptocurrency world, this listing brings attention to the market’s expanding potential and value for gaming tokens.

Ahead of its trading launch on Binance, the platform facilitated the staking of BNB and the First Digital USD (FDUSD) stablecoin to farm PIXEL tokens. The recent play-to-airdrop campaigns and a surprise 20 million PIXEL airdrop for Ronin’s RON token stakers demonstrate the project’s commitment to rewarding its community and supporting network participants.

 Despite a temporary dip in Ronin’s price early Monday, it has since rebounded, achieving a 17% increase over the last week and hitting a two-year high of $3.49 earlier in the month. The listing of PIXEL on Binance marks a significant milestone for the Web3 gaming industry, reflecting the growing integration of blockchain technology in gaming. 

 

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Filed under: Bitcoin - @ February 20, 2024 6:13 pm