Pixel, a prominent Web3 game, has experienced a surge in its market valuation, nearing $3 billion after Binance, a leading cryptocurrency exchange, listed its PIXEL token. Since the listing on February 19 at $0.04, the token’s price has skyrocketed by 1,246% to $0.5395.
Pixel’s Popularity and Market Expansion
With a diluted market cap of $2.65 billion, Pixel has witnessed a growth in active users. The game transitioned to the Ronin Web3 gaming blockchain, operated by Sky Mavis, in September. Current data shows a 47.9% increase in user interaction over the past month, with over half a million wallets engaged. Pixel offers an interactive adventure where users can farm, acquire land, and incorporate NFTs. However, Berry, the game’s in-game currency, hasn’t seen the same appreciation as the PIXEL token.
Ronin’s Recovery and GameFi Developments
Ronin’s recovery from a 2022 hack has been notable, with its token values returning to pre-incident levels and the network’s total value locked reaching $214 million. Katana, Ronin’s native decentralized exchange, contributes 99% of this volume. Despite RON’s Binance listing on February 5, its value decreased as ecosystem investors accumulated and quickly sold off the token. Subsequently, Binance announced tighter internal controls to avoid information leaks, with separate teams for project research and token listings.
Sky Mavis co-founder Aleksander Larsen discussed plans for Ronin to integrate more Web3 games through Mavis Hub, a platform likened to Steam. Larsen anticipates welcoming 16 blockchain games to Ronin within the year, signaling expansion in the GameFi sector.