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Crypto Exchanges Flock to List NXPC, Token Surges 115% on $1B Volume
The NXPC token is developed by NEXPACE, the blockchain arm of South Korean video game developer Nexon.
What to know:
- The NXPC token has racked up more than $1 billion worth of volume across all exchanges in the first three hours after launch.
- It has risen by 115% to a $550 million market cap and a fully diluted value of $3.2 billion.
- The token was part of Binance's Alpha platform, where users can claim the tokens after accruing points.
Several exchanges including Binance and Korean platform Coinone have listed , leading to a 115% surge in the token's value on the back of $1 billion in trading volume in the first three hours of trading.
NEXPACE is a PC role-playing game that features on-chain item ownership. It is the the blockchain arm of South Korean video game developer Nexon.
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Binance Alpha users that have accumulated 187 Alpha points can claim 198 NXPC, worth $629 at current prices. Points are accrued by holding crypto tokens on the Binance exchange or in the Binance wallet.
Binance's Alpha product is a way of distributing newly-launched tokens to users by accumulating points. It caused a stir in December when the platform's Chinese social media channel unintentionally posted a list of tokens that would potentially be launched, prompting the tokens to spike then crash back down.
NXPC has debuted at a $550 million market cap with a fully diluted value (FDV) of $3.2 billion. FDV is calculated by multiplying the total supply by asset price, whilst market cap only considers circulating supply.
More than $240 million of the $1 billion trading volume took place on Binance, with traders on Korean exchange Upbit also racking up $100 million worth of volume.
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