The recently launched PIXEL token, linked to the popular blockchain game Pixels, has exploded into the crypto scene. PIXEL rose 20.8% in the last 24 hours to an intraday high of $0.687 before settling around $0.61 as per the CoinMarketCap by press time, already ranking among the top 10 most traded cryptos.

PIXEL 24 HRS  Price Chart, Source: CoinMarketCap

PIXEL’s launch day trading volume exceeded a staggering $1.2 billion, passing major coins like Dogecoin, Cardano, and Polygon over the same period. The video game token briefly claimed the title of most traded gaming crypto asset from XAI, which hit its all-time high on Sunday.

Analysts say PIXEL’s meteoric debut reflects pent-up demand from Pixels players. Crypto gamers have long awaited the PIXEL launch. Pixels has seen surging player accounts this year after migrating from Polygon to Ronin.

Over 28,000 top Pixels players have earned PIXEL tokens through play-to-airdrop campaigns since January. The rewards programs tapped into the game’s growth to over 1 million monthly active users.

Recently, Pixels announced plans to incorporate augmented reality and launch a mobile app to boost accessibility and mark the next evolution for blockchain gaming. 

While volatility always exists with new assets, PIXEL seems poised for more upside based on the strength of the link to Pixels and the booming crypto gaming sector.

Also read: Pixels Token Sees 22.7% Gain on First Day of Trading