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Binance Lists Gaming Token XAI, Price Rallies 7% – Crypto News

Published

2 years ago

January 9, 2024

Dripp

On Tuesday, January 9, 2024, Xai (XAI) was listed on Binance, the largest crypto trading platform globally. Earlier, the project was introduced as the 43rd Launchpool on the crypto exchange, which concluded on Monday. After being listed on Binance, the XAI price gained nearly 7% and attained an all-time high.

Xai, as the first Layer 3 in the Arbitrum ecosystem, is an innovative approach as it pushes democratizing of web3 gaming. Traditional gamers can now seamlessly trade in-game items on the Xai network without the complexities of crypto wallets. Moreover, the platform’s decentralized nature encourages active participation in governance.

Also Read: Binance Announces New Solana (SOL), BNB, NFP, SEI & Other Crypto Margin Pairs

XAI As Binance’s 43rd Launchpool Project

The 43rd Binance Launchpool, which concluded on Monday saw users staking their BNB, FDUSD, and TUSD in separate pools to farm XAI tokens. This exciting phase unfolded over four days, starting on January 5, 2024, at 12:00 a.m. UTC and concluding on January 8, 2024, at 11:59 p.m. UTC.

Thereafter, the XAI Binance listing commenced on January 9, 2024, at 10:00 a.m. UTC. In addition, the crypto exchange has opened up trading pairs that include XAI/BTC, XAI/USDT, XAI/BNB, XAI/FDUSD, XAI/TUSD, and XAI/TRY. In addition, XAI has been equipped with the Seed Tag.

The XAI crypto has a maximum supply of 2.5 billion tokens. Diving into the specifics of the XAI Binance Launchpool, the total token rewards comprised 75,000,000 XAI, equivalent to 3% of the total token supply. The initial circulating supply stands at approximately 11.08%, amounting to 277,118,150 XAI.

The hourly cap on rewards per user varied across pools, with the BNB pool set at 62,500 XAI, the FDUSD pool at 7,812.5 XAI, and the TUSD pool at 7,812.5 XAI. Users staking BNB had the opportunity to claim an 80% share of 60,000,000 XAI in Launchpool rewards. Whilst, FDUSD and TUSD pools promised 7,500,000 XAI in rewards per pool.

XAI Price Soars 7%

The XAI crypto price rallied over 80% after Binance listing and registered an all-time high of $0.786384. At press time, the crypto gained 6.85% in value and traded at $0.724314 on Monday. Whilst, XAI’s market capitalization stood at $200.72 million.

Apart from the recent gain, the 24-hour trade volume suggested an impressive figure of $165.24 million. Currently, the crypto has a circulating supply of 277.12 million, which is just 11.08% of the max supply. Hence, there is room for shorting, which could hype the XAI price unprecedentedly in the future.

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