New altcoin Surges By 20%! Is It A Good Investment For Future?

The post New altcoin Surges By 20%! Is It A Good Investment For Future? appeared first on Coinpedia Fintech News

The Pixel token has gained significant attention from the market following its listing on the Binance platform on 19th February this year. Since its launch, it has added over 18% to its valuation, indicating a strong bullish sentiment for the coin in the crypto market.

Further, this ERC-20-based altcoin has recorded a trading volume of over $1.405 Billion within the past 24 hours, a circulating supply of just over 771 Million tokens, and a market cap of over $445 Million, highlighting strong potential and fundamentals in the future price action for this token. 

Pixels (PIXEL) token was created on the Ethereum Blockchain as a standard ERC-20 token. Its native currency is PIXEL Coin, which is a premium currency in its Pixels game. With the help of Pixel coin, players can purchase, upgrade, and improvise the appearance of their character.

TradingView: PIXEL/USDT

Before the launch, a snapshot was taken of the registered users on the 8th and they were categorized into different tires based on their staking in Ronin Network (RON). Following this, 20 Million of these tokens were airdropped into their wallets based on their stakes.

The technical indicator, MACD, displays a rising green histogram, indicating increased buying pressure within the market. Further, the averages constantly rise, highlighting a bullish influence for this altcoin.

With the rising hype of this token in the industry, investors are concerned about the future prospects of this token such as Will PIXEL hold its gains? However, it is too early to jump to a conclusion as this token is new and still in an early stage of development.