ALICE token third most active on Binance behind BTC and ETH
The upcoming social building game My Neighbor Alice launched its token on Binance yesterday, and saw more than $1.8 billion in trading volume in its first 24 hours. ALICE/USDT has been the number four trading pair on the exchange, just behind BTC and ETH pairs.
The ALICE token will be the governance token for the game, but also serves as an in-game currency. It’s a token on the Binance Smart Chain. ALICE is now $21.30, down 39% from its launch price.
Aside from the launch on Binance, there’s also a token distribution happening through PancakeSwap. By staking CAKE, users can yield farm ALICE. PancakeSwap saw an increase of 59% in volume in the past 24 hours, while its CAKE token dropped 5% in value to $10.09.
What is My Neighbor Alice?
My Neighbor Alice will allow players to own a piece of virtual land, create a social life on the island and do all kinds of quests. The game will also have play-to-earn mechanics, allowing players to earn ALICE tokens by completing certain tasks.
Gamers compare the game with Nintendo’s hit series Animal Crossing. My Neighbor Alice will launch later this year through game distribution platform Steam.
DeFi game strong on Binance
Binance Smart Chain is a serious competitor for the DeFi crown. Ethereum has been king of the DeFi castle, but low gas fees make Binance a very attractive alternative. Combine that with the incentive of high yields, and it’s easy to see why BSC is attracting so many users.
According to the DappRadar Binance Smart Chain report, the blockchain had more than 108 thousand active wallets in February. During the same month dapps generated $745 billion in transaction volume. Most of those volumes came from two DeFi dapps: Venus and Autofarm.
Those active with decentralized finance (DeFi) can always dive into the DappRadar Portfolio Tracker to keep an eye on their portfolio. The service works on both the Ethereum blockchain and Binance Smart Chain, and gives users the best tracking service for NFT collections and yield farming activities.