Xai, a token designed to open up trading in the next generation of video games, was ranked as the top trending coin on CoinMarketCap following airdrop excitement and a listing on Binance Launchpool.
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According to CoinMarketCap's top trending report on January 16, Xai (XAI) was reported as the top trending token. The project was launched to allow billions of mainstream players to own and trade valuable in-game items within their favorite games, eliminating the need for the use of cryptocurrency.
At the time of writing, the token was at $1.01, up 8% in the last 24 hours. This is higher than similar tokens in the Arbitrum ecosystem, which only reported 1.7% growth in the same period.
However, unlike today's top gainers Chiliz (CHZ), Klaytn (KLY) and Blur (BLUR), the market enthusiasm for this project is said to come from announcements made earlier in the month, on January. The project initiated a token distribution via airdrop, which included rewards for early holders of Xai nft collectibles and extended benefits for those who acquired sentinel keys to operate validator nodes, significantly contributing to the network's transaction processing.
On the same day, the project announced that Binance listed Xai as the 43rd project on Binance Launchpool, allowing users to farm XAI tokens. This development marked another important milestone for Xai as it gained exposure to a wider audience through one of the major cryptocurrency exchanges.
Since then, the token has achieved 65.8% growth for the week, which is said to be outperforming the global crypto market, with a drop of 0.1%.
