Several exchanges, including Binance and the Korean platform Coinone, list Nexpace (NXPC), with the value of the $1 billion token skyrocketing 115% in the first three hours of trading volume.
Nexpace is a PC role-playing game that features ownership of on-chain items. This is the blockchain arm of Korean video game developer Nexon.
Binance Alpha users who have accumulated 187 Alpha Points can charge 198 NXPC worth $629 at their current price. Points are generated by holding cryptographic tokens in a Binance Exchange or Binance Wallet.
Binance’s Alpha products are a way to distribute newly launched tokens to users by accumulating points. It caused a stir in December when the platform’s Chinese social media channels unintentionally posted a list of tokens that were released unintentionally, spiked them on the tokens and then crashed them.
NXPC debuted at a market capitalization of $550 million and has achieved a fully diluted value (FDV) of $3.2 billion. FDV is calculated by multiplying the total supply by the asset price, but market capitalization only takes into account circular supply.
Of the $1 billion trading volume, more than $240 million was held in Binance, with traders at Exchange Upbit South Korea also gaining a volume worth $100 million.
