Pixelverse (PIXFI) Price Rose Sharply on Friday as Investors Cheered Its Recent Launch on Top Exchanges

The newly launched PIXFI token was trading at $0.0886 on Friday, giving it a market cap of over $451 million.

Pixelverse (PIXFI) price surged on Friday after its recent launch on major exchanges like Bybit, HTX, and Gate. The PIXFI token was trading at $0.0886, giving it a market cap of over $451 million.

Pixelverse also rallied after the developers launched perpetual staking, which allows token holders to generate returns by simply holding the tokens. With perpetual staking, users only need to stake once to receive rewards from the entire ecosystem.

In the first stage of staking, users received common, uncommon, rare, epic, and legendary loot boxes. Notably, items in the legendary loot boxes, such as clothes, masks, and real estate vouchers, will be available exclusively for staking.

The perpetual staking feature arrived a day after the developers announced their airdrop, where all users received their NFT rewards, which are claimable on July 25th. Of the total PIXFI tokens, 10% were allocated to rare, epic, and legendary NFTs, while 20% were rewarded to Pixelverse and Pixelchain users.

Pixelverse also introduced a unique approach to preventing dumping and bot activity. Immediate withdrawal of the PIXFI token granted users only 10% of the airdrop, with the rest being transferred back to the community incentive pool to reward the community.

Part of the TON ecosystem, Pixelverse has witnessed rapid growth in recent months, attracting over 75 million users and 15 million daily active users.

The developers have also launched the Playground demo and forged partnerships with several platforms, including Pudgy Penguins, Notcoin, and Coq Inu. Additionally, they have created Pixelchain, the first layer-2 network for the TON Network.

A layer-2 network is a sidechain that operates parallel to the main blockchain, reducing the load on the parent network and boosting its performance. For instance, popular Ethereum layer 2 blockchains like Polygon and Arbitrum offer faster transaction speeds and lower costs compared to Ethereum.

A closer look at the technical analysis reveals that the PIXFI token encountered resistance at the Fib 0.236 level of $0.092. However, it managed to break through this level, indicating bullish momentum.

The next key support level for the PIXFI token is the Fib 0.382 level of $0.077, followed by the Fib 0.5 level of $0.068. On the upside, the Fib 0.146 level of $0.102 is likely to act as resistance.

Next up for the Pixelverse token is the launch of the mobile browser, which is scheduled for August. This browser will allow users to easily participate in the ecosystem and potentially earn rewards.

One major risk associated with the PIXFI token is the tendency for many cryptocurrencies to initially surge after an airdrop and then pull back as the hype dies down.

For instance, Wormhole (W) initially soared to $1.8540 after the airdrop and then dropped to $0.30. Similarly, the zkSync token rose to $0.40 shortly after its airdrop and then slid down to $0.18. Other recent airdrops, like Rapper Iggy Azalea's MOTHER and Andrew Tate's DADDY, also experienced a surge and then a decline after a few days.

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