Pixelverse’s PIXFI token surges nearly 50% in a few hours after airdrop

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MarsBit
07-18
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According to Mars Finance, Pixelverse conducted the much-anticipated PIXFI token airdrop on July 18. According to CoinMarketCap data, the token rose by nearly 50% in the first few hours after listing, and its market value once approached $200 million, before falling back.

PIXFI tokens are currently listed on multiple centralized exchanges, including Bybit, HTX, Gate, Bitget, and MEXC. Pixelverse said in a post on the X platform that this airdropped 10% of the total supply of PIXFI to holders of its rare, epic, and legendary NFT collections, and the project will distribute another 20% of tokens to Pixelverse and Pixelchain users over time.

Pixelverse is the project behind the hit Telegram game PixelTap, a cyberpunk-themed mini-game that reportedly attracted 50 million new users in June alone. It is hosted on TON, a layer-one blockchain originally developed by the Telegram messaging app team and now managed by the TON Foundation.

The airdrop is designed to avoid the sharp sell-off that is common after the distribution of free tokens. The airdropped tokens are automatically "staked" for additional rewards, and withdrawing the tokens immediately will face a 90% penalty. Pixelverse said on X that although early airdrops were seen as rewards for real users and welcomed by the community, farming and shibboleth attacks later became popular among diligent users, and airdrops these days usually trigger community anger and negative action on token prices.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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