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PIXEL token soars 16% as trading volume reaches $1b

pixel-token-soars-16-as-trading-volume-reaches-1b
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PIXEL token soars 16% as trading volume reaches $1b

Just a day following the launch of its PIXEL token, blockchain game Pixels has surged past the $1 billion mark in trading volume, recent data indicates.

Blockchain-based farming game Pixels is experiencing a remarkable spike in activity, with the trading volume of its native token, PIXEL, surpassing $1 billion as of Feb. 20.

CoinMarketCap data reveals that the top five trading pairs by volume are concentrated on Binance, where over $1.1 billion in trading volume was generated, constituting a 74.6% share. Alongside the surge in trading volume, the price of PIXEL has also seen an increase, rising by over 16% and currently trading at $0.59, with a market capitalization of $455.7 million.

PIXEL token soars 16% as trading volume reaches $1b - 1
PIXELS markets | Source: CoinMarketCap

The hype surrounding Pixels has also had a positive impact on Ronin, the blockchain network on which the game has been released.

PIXEL token soars 16% as trading volume reaches $1b - 2
Ronin on-chain activity | Source: Token Terminal

Data from Token Terminal indicates that since the launch of the PIXEL token, the daily volume of transaction fees generated on the Ronin chain has reached $11,300, marking an all-time high since the beginning of the year, with the total fees’ growth rate over the past 90 days surging by 1,568%. Additionally, the total number of daily active addresses on Ronin has increased by 664% over the same period.

As crypto.news earlier reported, Pixels announced a 20 million PIXEL airdrop over the weekend for users who staked Ronin’s RON token, further incentivizing participation in the network.

Pixels, reminiscent of classic farming games like Harvest Moon and Stardew Valley, integrates a crypto token economy with NFT-based land plots and pets. Although initially developed on the Polygon network, the game eventually migrated to Ronin.