For the previous two years, the project has been getting ready to launch on the cryptocurrency exchange Binance.
Shortly after releasing its token on cryptocurrency platform Binance, Pixel, one of the biggest Web3 games in terms of daily active users, has come close to being valued at $3 billion.
As of the time of writing, the PIXEL coin is trading at $0.5385, up 1,246% from when it was first listed on Binance on February 19 for $0.04. As of right now, the project’s diluted market cap is $2.65 billion. Citing the latter’s devoted gaming user base, Pixel stated last September that it was switching from Polygon to the gaming blockchain Ronin Web3 from Sky Mavis.
DappRadar data indicates that 531,850 wallets are actively participating in the social community game, which is 47.9% more than it was thirty days ago. In the relaxed adventure game Pixels, players can cultivate their own land, go on adventures, and use nonfungible tokens (NFTs) to interact with other players. But the protocol’s in-game token, Berry, hasn’t kept up with the growth of the Pixel token, which has led to a significantly lower value in terms of gaming transactions.
The Ronin blockchain has recovered this year, with its token value surpassing its pre-attack highs, following a catastrophic hack in 2022. In the meantime, the blockchain’s total locked value has increased to $214 million, with the native decentralized exchange Katana accounting for 99% of its volume.
The price of the Ronin (RON) token, which was also released on Binance on February 5, fell sharply as a result of insiders amassing RON and selling it soon after the token was listed. In order to prevent knowledge breaches, Yi He, a co-founder of Binance and the former CEO Changpeng Zhao’s husband, clarified following the debacle that the exchange would implement stricter internal controls to divide the listing team from project research teams.
Aleksander Larsen, co-founder of Sky Mavis, clarified in a Cointelegraph interview that Ronin will permit Web3 games to be added into the Mavis Hub, the protocol’s platform for game curation that resembles Steam, if they achieve popularity. This year, Larsen plans to add sixteen blockchain games to Ronin.